Media release 10.09.2018
First half-year results 2018
In the first half of 2018, consolidated total turnover grew 4.7% at constant exchange rates. Turnover of the higher margin maintenance and service business even grew 8.2% excluding exchange rate effects. The strong growth of the service and maintenance business contributed to the 90 basis points increase of the gross margin, which was also helped by pricing initiatives across the group and the compensation of raw material price increases by savings in the supply chain. The benefits of the reorganisations in France, the United Kingdom, the Netherlands and the United States allowed personnel cost to decrease slightly and structure cost stay constant, despite an expanding business.
The financial result is predominantly non-cash and driven by the impact exchange rate movements had on the cash positions in the Group.
2018 sales growth continues to be anticipated to be 3 to 4% based on constant exchange rates.
The group confirms its expectation of sales growth of 4 – 5 % for the full year.
Group key figures (January – June)
|Turnover||178.6||100.0||175.2||100.0||+ 1.9 %|
|Gross profit||132.7||74.3||128.6||73.4||+ 3.2 %|
|Personnel expenses||83.3||46.6||83.7||47.8||- 0.5 %|
|Structure cost||25.4||14.2||25.4||14.5||0.0 %|
|EBITA||24.7||13.8||20.2||11.5||+ 22.3 %|
|EBIT||18.3||10.2||13.3||7.6||+ 37.6 %|
|Profit for the period||13.4||7.5||10.2||5.8||+ 31.3 %|
Next media release:
3rd quarter turnover on 25 October 2018 (after market closing)