Cembre

BOARD APPROVES THE INTERIM REPORT AT SEPTEMBER 30, 2014

Cembre (a star listed company): in the first nine months of 2014 consolidated turnover up 9.1% net financial position amounts to a surplus of €8 million

14/11/2014

  • Consolidated sales for the first nine months of 2014 grew worldwide, with domestic sales up 15% and exports up 5.6%
  • Capital expenditure for the first nine months of 2014 amounts to €6.3 million

(€’000)

First nine months 2014

Sales margin

%

First nine months2013

Sales margin

%

%

change

3rd Qtr. 2014

Sales margin

3rd Qtr. 2013

Sales margin

%

change

Sales

83,664

100

76,697

100

9.1%

27,051

100

24,438

100

10.7%

Gross operating profit (Ebitda)

18,186

21.7

14,932

19.5

21.8%

6,133

22.7

4,829

19.8

27.0%

Operating profit (Ebit)

14,469

17.3

11,638

15.2

24.3%

4,762

17.6

3,686

15.1

29.2%

Profit before taxes

14,672

17.5

11,481

15.0

27.8%

4,821

17.8

3,670

15.0

31.4%

Net profit

9,847

11.8

7,587

9.9

29.8%

3,034

11.2

2,397

9.8

26.6%

Net financial position

7,970

 

876

 

 

 

 

 

 

 

 

Brescia, November 14, 2014 - The Board of Directors of Cembre Spa – 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 2014.

 

Consolidated sales for the first nine months of 2014 grew by 9.1% on the corresponding period in 2013 up from €76.7 million to €83.7 million. In the 3rd Quarter of 2014, consolidated revenues grew instead by 10.7% on the 3rd Quarter of 2013 from €24.4 million to €27.1 million.

 

In the first nine months of 2014, 39.2% of Group sales were represented by Italy (as compared with 37.2% in the first nine months of 2013), 45.4% by the rest of Europe (46.4% in the first nine months of 2013), and the remaining 15.4% by the rest of the World (16.4% in the first nine months of 2013). In the same period, domestic sales grew by 15.0% and exports were up 5.6% on the corresponding period in 2013.

 

Consolidated gross operating profit (Ebitda) for the first nine months of 2014 amounted to €18.2 million, corresponding to a 21.7% margin on sales, up 21.8% on €14.9 million reported in the first nine months of 2013 and corresponding to a 19.5% margin on sales.
Gross operating profit for the 3rd Quarter of 2014 amounted to €6.1 million, corresponding to a 22.7% margin on sales, up 27.0% on €4.8 million reported in the 3rd Quarter of 2013 and corresponding to a 19.8% margin on sales.

 

Consolidated operating profit (Ebit) for the first nine months of 2014 amounted to €14.5 million, corresponding to a 17.3% margin on sales, up 24.3% on €11.6 million in the first nine months of 2013, when it represented a 15.2% margin on sales. Consolidated operating profit for the 3rd Quarter of 2014 amounted to €4.8 million, representing a 17.6% margin on sales, up on €3.7 million in the 3rd Quarter of 2013, when it represented a 15.1% margin on sales.

 

Consolidated profit before taxes for the first nine months of 2014 amounts to €14.7 million, representing a 17.5% margin on sales, up 27.8% on the profit before taxes reported in the first nine months of 2013, amounting to €11.5 million and corresponding to a 15.0% margin on sales.
Profit before taxes for the 3rd Quarter of 2014 amounts to €4.8 million, corresponding to a 17.8% margin on sales, up 31.4% on €3.7 million in the 3rd Quarter of 2013, when it amounted to a 15.0% margin on sales.

 

Consolidated net profit for the first nine months of 2014 amounted to €9.8 million, representing an 11.8% margin on sales, up 29.8% on €7.6 million in the first nine months of 2013, when it represented a 9.9% margin on sales.
Net profit for the 3rd Quarter of 2014 amounted to €3.0 million, representing an 11.2% margin on sales, up 26.6% on €2.4 million in the 3rd Quarter of 2013, when it represented a 9.8% margin on sales.

 

The consolidated net financial position at September 30, 2014 amounted to a surplus of €8 million, improving on June 30, 2014, when it amounted to a surplus of €2.6 million. The consolidated net financial position at September 30, 2013 was equal to a surplus of €0.9 million.

 

Capital investments in the first nine months of 2014 amounted to €6.3 million, up on the corresponding period in 2013 when they amounted to €5.7 million.

 

“In the first nine months of 2014 consolidated sales grew by 9.1% on the corresponding period in 2013 as a result of a 15.0% increase in domestic sales – achieved despite persisting difficult conditions in the Italian market – and a 5.6% increase in exports. Sales for the first ten months to October 2014 grew by 7.9% on the corresponding period in 2013, while at the end of the month the net financial position amounted to a surplus of €9.5 million – commented the Chairman and Managing Director, Giovanni Rosani. “We expect to close 2014 reporting a growth in turnover over the previous year and to maintain a net financial position in a strong surplus.” 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.), for a total workforce of 612 as of September 30, 2014. 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
For further information please visit the Investor Relation section in the www.cembre.com site.

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, 2014

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 2014 has not been audited.

 
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