SERGE FERRARI : FIRST HALF 2015 RESULTS

information fournie par Actusnews •03/09/2015 à 17:30

Revenue up 4% Net income up 5%

SergeFerrari Group (FR0011950682) creates, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.

Saint Jean de Soudain, September 2, 2015

Audited first half results (January 1 - June 30)

(1) Where applicable, 2014 figures have been restated in accordance with IFRIC 21, applicable from January 1, 2015

The gross margin on standard cost of sales of flexible composite materials rose 1 percentage point from 45.8% in first half 2014 to 46.8%. Marketing expenditure was particularly high, up 14.5% on first half 2014. Other operating expenses remained stable. The combined effect of these two items resulted in a 2.0% rise in EBIT.

Financing

On July 28, 2015, the Company closed financing facilities for a total amount of €50 million, including a €15 million Euro Private Placement (Euro PP) and a €35 million revolving credit facility, which may be used for general purposes and, if the opportunity arises, for acquisitions.

Outlook

SergeFerrari Group continued to hire sales staff increasing the headcount to 125 at June 30, 2015 with the aim of reaching 140 by year end. In light of its first half 2015 results, SergeFerrari Group expects to increase both revenue and margins in 2015 and is confident of achieving its 2018 targets of €215 million revenue and a 15% EBITDA margin.

Half-year financial report

In accordance with the Transparency Directive, the Company hereby confirms that it has published its first half 2015 financial report and filed it with the French Financial Markets Authority. The report may be viewed at www.sergeferrari.com under the heading Investors / Financial Information.

Next release

Q3 2015 revenue, November 4, 2015 after market close.

Find all Company details at www.sergeferrari.com .