PSB INDUSTRIES (EPA:PSB) - PSB INDUSTRIES F Y 2010
Transparency directive : regulatory news
15/03/2011 18:03
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PSB INDUSTRIESFiscal Year 2010
Sales and earnings up sharply
PSB Industries' Board of Directors approved the FY 2010 financial statements in
a meeting chaired by Jean-Baptiste Bosson on February 28, 2011.
Consolidated data
(000s euros) FY 2009 FY 2010 Change
Sales 182,652 228,553 +25.1%
Operating profit 9,898 20,041 +102.5%
as % of sales 5.4% 8.8%
Net income 4,824 11,166 +131.5%
Group share of net income 4,545 10,610 +133.4%
Cash flow from operating activities 21,258 27,060 +27.3%
SALES ACTIVITY
PSB Industries' sales increased 25.1% in FY 2010 (23.3% on a constant currency
basis) and more than half of the sales volume was generated in exports (Europe,
United States, Mexico and Japan).
EARNINGS AND BALANCE SHEET ITEMS
Operating profit reached EUR20.0 million, or 8.8% of sales, returning to its
pre-crisis levels.
Capital expenditures amounted to EUR17.6 million over the period while the cash
flow from operating activities reduced net debt from EUR81.0 to EUR71.8 million.
OUTLOOK
After the sharp increase in sales in 2010, which benefited from the end of
worldwide destocking trends, growth in FY 2011 should return to a level closer
to 5% with a return on sales target in line with that of FY 2010.
DIVIDEND
After two years of decreased dividends in the context of an economic crisis, the
Board of Directors will recommend to the Shareholders' Meeting on May 26, 2011
to pay a dividend of EUR1.45 per share. An interim dividend of EUR0.65 per share
was already paid out on January 28, 2011.
First quarter 2011 sales will be published on April 12, 2011.
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