THERMADOR GROUPE (EPA:THEP) - Thermador groupe : TURNOVER FOR FIRST QUARTER 2018: +20.2%
Transparency directive : regulatory news
13/04/2018 17:50
Click here to download pdf version
TURNOVER FOR FIRST QUARTER 2018: +20.2%
In thousands 2018 Variation Variation
of euros 2018 constant 2017 2018/2017 2018
scope* constant
/2017
Breakdown by business:
Sferaco and
Groupe Valfit,
valves and
fittings* 13,807 12,811 12,921 +6.9% -0.9%
Thermador,
accessories
for central
heating 12,026 12,026 11,862 +1.4% +1.4%
Jetly, pumps 11,177 11,177 11,405 -2.0% -2.0%
Mecafer and
Domac, heavy
tools in DIY
stores* 8,307 6,925 7,404 +12.2% -6.5%
PBtub, tubes in
synthetic
materials 7,088 7,088 6,973 +1.6% +1.6%
Thermador
International 6,033 6,033 5,039 +19.7% +19.7%
Dipra, pumps
and plumbing
in DIY stores 5,803 5,803 5,111 +13.5% +13.5%
Sectoriel,
motorised
valves and air
compressors 5,046 5,046 4,665 +8.2% +8.2%
Sodeco Valves,
industrial
valves and
fittings* 4,969
FGinox,
fittings and
flanges in
stainless
steel* 4,012
Aello,
equipment for
swimming pools 1,681 1,681 1,205 +39.5% +39.5%
Isocel,
components for
boilers 1,522 1,522 1,411 +7.9% +7.9%
Axelair,
ventilation
equipment* 794 531 441 +80.0% +20.5%
Other structures 81 81 76 +6.6% +6.6%
Total 1st quarter
(before
IFRS 15) 82,346 70,724 68,513 +20.2% +3.2%
Impact
IFRS 15** -997
Total 1st
quarter
(after
IFRS 15) 81,349
* 2018 turnover taking into account acquisition of Domac consolidated since
March 1, 2017, acquisition of Sodeco Valves consolidated since September 1,
2017, acquisition of FGinox consolidated since October 1, 2017, acquisition of
Groupe Valfit consolidated since January 1, 2018. Axelair's 2018 turnover
includes the turnover generated further to the acquisition of the Vortice
France business from January 1, 2018.
** Re-categorisation of advertising expenses (i.e. page 57 of the 2017 annual
report).
BUSINESS
For the equivalent scope, business in the first quarter has been a tale of
contrasts: January was very dynamic, February and March rather morose.
Thermador International's turnover increased by 19.7%, while that achieved in
France by our biggest subsidiaries was similar to 2017. Consolidated organic
growth came out at 3.2% with exactly the same number of business days. Despite
this, we are satisfied with what is a better level than the first quarter of
2017 when we reported exceptional growth of 13.7%.
This moderate performance has been achieved in a distinctly inflationist
context, caused by an increase in raw material prices and also by
under-capacities in production for certain industrial valve products
manufactured in China. Local authorities have introduced very radical
anti-pollution measures which have resulted in a large number of factory
closures.
During this first quarter, subsidiaries acquired in 2017 contributed to Ä11.6m
which enabled us to achieve a global growth of more than 20%. We are, of
course, highly committed to making a success of their integration.
PROSPECTS
The halt in growth observed over the past two months means that we are more
cautious. However, we are very confident with an improving economic climate.
EXTRAORDINARY AND ORDINARY GENERAL MEETING OF APRIL 9
Our AGM was held in Lyon on April 9, 2018. It brought together 192 people,
including 152 voters representing 69.7% of voting rights, compared to 63.7% in
2017. We thank you for your enthusiastic involvement and note with satisfaction
that more use is being made of the Votaccess platform. Indeed, 627 shareholders
voted remotely.
On April 11, we received around 130 shareholders at Salons Hoche in Paris. At
the AGM, all the resolutions were adopted on the basis of majority voting.
The texts of those resolutions can be found in the 2017 annual report on pages
114-116 as well as on our website.
Also, a dividend of EUR3.40 will be detached on April 23 and will be payable on
April 25, 2018. On May 9, 2018, the nominal value of each share will be divided
by 2.
BOARD OF DIRECTORS
Warm thanks were made to Hervé Le Guillerm, whose mandate as board member came
to an end. For two years, he has shared his experience in the valve field with
remarkable assiduity and commitment. His replacement, Christophe Arquillière,
was appointed to the Board for a two-year term. His biography can be viewed on
our website in the 'Board of Directors' section.
The board member mandates of Guy Vincent and Guillaume Robin were renewed for a
4-year term. On April 10, the Board renewed Guillaume Robin's function as
Chairman & CEO of Thermador Groupe.
PEA PME
Thermador Groupe confirms its eligibility to Euronext.