Cembre

Board approves the interim report at september 30, 2013

Cembre (a star listed company): in the 3rd quarter of 2013 consolidated turnover up 1% net financial position amounts to a surplus of €0.9 million

14/11/2013

  • Consolidated sales for the first nine months of 2013 declined slightly (-0.9%)

(€’000)

First nine months 2013

Sales margin %

First nine months 2012

Sales margin %

% change

3rd Qtr. 2013

Sales margin

3rd Qtr. 2012

Sales margin

% change

Sales

76,697

100

77,406

100

-0.9%

24,438

100

24,185

100

1.0%

Gross operating profit (Ebitda)

14,932

19.5

14,987

19.4

-0.4%

4,829

19.8

4,692

19.4

2.9%

Operating profit (Ebit)

11,638

15.2

12,274

15.9

-5.2%

3,686

15.1

3,765

15.6

-2.1%

Profit before taxes

11,481

15.0

12,270

15.9

-6.4%

3,670

15.0

3,690

15.3

-0.5%

Net profit

7,587

9.9

8,460

10.9

-10.3%

2,397

9.8

2,770

11.5

-13.5%

Net financial position

876

 

1,631

 

 

 

 

 

 

 

 

Brescia, November 14, 2013 - The Board of Directors of Cembre S.p.A.– a company listed in the STAR segment of the Milan Stock Exchange and one of the largest European manufacturers of electrical connectors and tools for their installation – chaired by its Chairman and Managing Director Giovanni Rosani, approved at today’s meeting the Report on the 3rd Quarter of 2013.

 

Consolidated sales for the first nine months of 2013 were in line with the same period in 2012 (-0.9%), down slightly from €77.4 million to €76.7 million. In the 3rd Quarter of 2013, consolidated revenues grew instead by 1% on the 3rd Quarter of 2012 from €24.2 million to €24.4 million.

 

In the first nine months of 2013, 37.2% of Group sales were represented by Italy (as compared with 39.5% in the first nine months of 2012), 46.4% by the rest of Europe (45.6% in the first nine months of 2012), and the remaining 16.4% by the rest of the World (14.9% in the first nine months of 2012). In the same period, domestic sales declined by 6.7% and exports were up 2.9% on the corresponding period in 2012, while in the 3rd Quarter of the year, domestic sales declined by 4.1% and exports grew by 4.4% on the 3rd Quarter of 2012.

 

Consolidated gross operating profit (Ebitda) for the first nine months of 2013 amounted to €14.9 million, corresponding to a 19.5% margin on sales, down 0.4% on €15 million reported in the first nine months of 2012 (19.4% of sales).
Gross operating profit for the 3rd Quarter of 2013 amounted to €4.8 million, corresponding to a 19.8% margin on sales, up 2.9% on €4.7 million reported in the 3rd Quarter of 2012 (19.4% of sales).

 

Consolidated operating profit (Ebit) for the first nine months of 2013 amounted to €11.6 million (a 15.2% margin on sales), down 5.2% on €12.3 million in the first nine months of 2012 (when it represented a 15.9% margin on sales). Consolidated operating profit for the 3rd Quarter of 2013 amounted to €3.7 million, representing a 15.1% margin on sales, down on €3.8 million in the 3rd Quarter of 2012, when it represented a 15.6% margin on sales.

 

Consolidated profit before taxes for the first nine months of 2013 amounts to €11.5 million, representing a 15% margin on sales, down 6.4% on the profit before taxes reported in the first nine months of 2012, amounting to €12.3 million and corresponding to a 15.9% margin on sales.
Profit before taxes for the 3rd Quarter of 2013 amounts to €3.7 million, corresponding to a 15% margin on sales, stable from €3.7 million in the 3rd Quarter of 2012, when it amounted to a 15.3% margin on sales.

 

Net profit for the first nine months of 2013 amounted to €7.6million, representing a 9.9% margin on sales, down 10.3% on €8.5 million in the first nine months of 2012, when it represented a 10.9% margin on sales.
Net profit for the 3rd Quarter of 2013 amounted to €2.4 million, representing a 9.8% margin on sales, down 13.5% on €2.8 million in the 3rd Quarter of 2012, when it represented a 11.5% margin on sales.

 

The consolidated net financial position at September 30, 2013 amounted to a surplus of €0.9 million, improving on June 30, 2013, when it amounted to a deficit of €3.8 million. The consolidated net financial position at September 30, 2012 was equal to a surplus of €1.6 million.

 

Capital investments in the first nine months of 2013 amounted to €5.7 million, down on the corresponding period in 2012 when they amounted to €8.7 million.

 

“Sales for the 3rd Quarter grew by 1% on the corresponding period in 2012, reducing the contraction of sales for the first nine months of the year to 0.9%. In October sales grew by 5.5% on October 2012, taking sales for the first ten months of the year back in line with those for the same period in 2012. We expect to close 2013 reporting a turnover in line with or slightly higher than in 2012 – commented the Chairman and Managing Director, Giovanni Rosani. “At the end of October, Cembre’s consolidated net financial position amounted to a surplus of €3.3 million, a level that confirms the financial solidity of the Group”, continued Giovanni Rosani.

 

 

Cembre designs, manufactures and distributes electrical connectors and cable accessories. It enjoys a leadership position in Italy and significant market shares in the rest of Europe. It is also the world's largest producer of connector installation tools (mechanical, pneumatic and hydraulic) and tools for cable shearing. The products it has developed for connection to the rail and for other railway applications are used by the main companies in this sector round the world. Cembre owes its success to an insistence on innovative, high-quality products, a broad and thorough collection, and an extensive distribution network both in Italy and abroad.

Founded in Brescia in 1969, the Cembre Group is now a full-fledged international force. Along with the parent company in Brescia it has six subsidiaries: five trading companies (in Germany, France, Spain, the United States and Norway) and one manufacturing and trading subsidiaries (Cembre Ltd. in Birmingham, U.K. and General Marking S.r.l. in Bergamo), for a total workforce of 606 as of September 30, 2013. Since 1990 its products have been certified by Lloyd's Register Quality Assurance for the design and production of accessories for cables, electrical connectors and tools for their installation.

Cembre has been listed on the Italian Stock Exchange since December 15, 1997, and on the STAR section since September 24, 2001.

 

 

Contacts: Peroni e Vitale Comunicazione
Ferruccio Peroni (Peroni e Vitale Comunicazione) Mob. +39 335 6974871 f.peroni@peronievitale.it
Claudio Bornati (Cembre S.p.A.) +39 030 36921    BornatiC@cembre.com

 

 

The manager responsible for preparing the Company’s financial reports, Claudio Bornati, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

Attachments: Financial Statements at September 30, 2013

In the present press release use is made of certain alternative performance indicators that are not envisaged in IFRS-EU accounting principles, and whose significance and content are illustrated below, in line with the CESR/05-178b recommendation published on November 3, 2005:

Gross operating profit (EBITDA): defined as the difference between sales revenues and costs for materials, of services received, and the net balance of operating income and charges. It represents the profit before depreciation, amortization and write-downs, cash flow from financial activities and taxes.
Operating profit (EBIT): defined as the difference between Gross operating profit and the value of depreciation, amortization and write-downs. It represents the profit achieved before financial activities and taxes.
Net financial position: represents the algebraic sum of cash and cash equivalents, financial receivables and current and non-current financial debt.

The present Interim Report for the 3rd Quarter of 2013 has not been audited.

 

 

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