Media release 11.09.2017
First half-year results 2017 – improved profitability
The gross margin increased considerably, benefitting from reduced production costs in France, savings on sourced components and higher production volumes at agtatec.
Growth of personnel costs surpassed sales growth despite steady improvements in France. The higher personnel expenses are also partly due to the integration of HPDS in the U.K.
During the second half of 2017, restructuring costs should remain minimal in France and the U.K. while the focus of the integration of record UK and HPDS will switch to the achievement of synergies and efficiency gains. The pressure on the gross margin from the weakened British Pound should diminish in the second half of 2017.
The group confirms its expectation of sales growth of 4 – 5 % for the full year.
Group key figures (January – June)
|Turnover||175.5||100.0||166.6||100.0||+ 5.3 %|
|Gross profit||128.6||73.3||119.7||71.8||+ 7.4 %|
|Personnel expenses||83.7||47.7||78.1||46.9||+ 7.2 %|
|Structure cost||25.4||14.5||24.3||14.6||+ 4.5 %|
|EBITA||20.2||11.5||18.0||10.8||+ 12.2 %|
|EBIT||13.3||7.6||11.6||7.0||+ 14.7 %|
|Profit for the period||10.2||5.8||8.4||5.0||+ 21.4 %|
Half-Year Financial Report
The complete half-year financial report 2017 is published online in the shareholders’ section of the Group website: shareholders.agta-record.com.