EXACOMPTA CLAIREFONTAINE (EPA:EXAC) - Financial statements - 30 june 2016
Transparency directive : regulatory news
18/09/2017 18:00
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Dear Shareholders,
At its 7 September 2017 meeting in Paris, the EXACOMPTA CLAIREFONTAINE Board of
Directors, chaired by Mr François Nusse, reviewed and approved the Group
financial statements for the 6 months ended 30 June 2017.
- Consolidated results
(EUR000) H1 2017 H1 2016
Revenue 294,764 294,761
Operating income 9,652 7,363
Net income before tax 8,915 7,332
Net income after tax 6,354 6,020
Minority interests 0 (60)
Group share 6,354 6,080
> First half 2016 earnings were impacted by a EUR863,000 badwill gain arising
from the acquisition of a subsidiary.
> In early 2017, Exacompta Clairefontaine acquired exclusive control of its
subsidiary Photoweb via the buyout of minority interests. There are therefore
no longer any minority interests presented in the consolidated financial
statements.
- Segment information
Outside
(EUR000) France Europe Europe Total
Revenue 188,897 89,642 16,225 294,764
Inter-segment
(EUR000) Paper Processing transactions Total
Revenue 143,577 224,479 (73,292) 294,764
Operating income 9,775 181 (304) 9,652
Paper
Demand for printing and writing papers in Western Europe was relatively strong
during the first half. Group sales in this sector were spurred by the
development of new specialised products, while revenues were more or less
identical to first half 2016 revenues. Production fell 2.4% due to a small
number of technical incidents.
After the downward trend observed in the second half of 2016, the price of
paper pulp increased sharply.
First half operating income amounted to EUR9,775,000 in 2017 compared to
EUR6,717,000 in 2016.
Processing
In terms of stationery, the I+C economic survey shows a level 12-month trend.
The emergence of new forms of business and changing consumer habits have
encouraged the Group to continuously update its product offering in this
sector.
Successful adaptation of its marketing, production and logistics resources has
enabled the Group to maintain strong business.
Revenue rose 0.8% compared to first half 2016. The division posted first half
2017 operating income of EUR181,000, compared to EUR965,000 in 2016.
- Group financial results
As at 30 June 2017, with revenue of EUR294,764,000, Group gross borrowings
amounted to EUR139,650,000 and shareholders' equity totalled EUR388,368,000.
The Group has negotiated lines of credit with its banks totalling EUR135
million. At the balance sheet date, the Group had no outstanding commercial
paper out of a global programme of EUR125 million.
With cash of EUR91,070,000 at 30 June 2017, Group net borrowings amounted to
EUR48,580,000.
- Outlook
In the second half of 2017, commercial demand may decline, while the increase
in paper pulp prices will have a substantial impact on margins.
Full-year operating income may sink below the EUR17,264,000 posted in 2016.
THE BOARD OF DIRECTORS
Head of Financial Reporting
Jean-Marie Nusse
jean-marie.nusse@clairefontaine.eu
F 88480 ETIVAL-CLAIREFONTAINE - TEL. +33 (0)3 29 42 42 42 -
FAX +33 (0)3 29 42 42 00
SA AU CAPITAL DE 4 525 920 EUR - SIRET : 505 780 296 000 16 -
NAF : 7010Z - RCS EPINAL : B 505 780 296
SITE WWW.EXACOMPTACLAIREFONTAINE.FR - E-MAIL ACTIONNAIRE@CLAIREFONTAINE.COM