Cembre

Board approves the Interim Report at September 30, 2015

Cembre (a STAR listed company): in the first nine months of 2015 consolidated turnover up 9.1% operating profit and net profit for the first nine months of 2015 at an historical high

13/11/2015

  • Consolidated sales for the first nine months of 2015 grew by 9.1% worldwide, with domestic sales up 11.8% and exports up 7.4%
  • Capital expenditure for the first nine months of 2015 amounted to €4.9 million
  • At October 31, the net financial position amounted to €17.7 million, while sales for the first eight months of 2015 grew by 8.5%

(€’000)

First nine months 2015

Sales margin
%

First nine months2014

Sales margin
%

% change

3rd Qtr. 2015

Sales margin

3rd Qtr. 2014

Sales margin

% change

Sales

91,278

100

83,664

100

9.1%

28,241

100

27,051

100

4.4%

Gross operating profit (Ebitda)

22,216

24.3

18,186

21.7

22.2%

6,959

24.6

6,133

22.7

13.5%

Operating profit (Ebit)

17,975

19.7

14,469

17.3

24.2%

5,509

19.5

4,762

17.6

15.7%

Profit before taxes

18,092

19.8

14,672

17.5

23.3%

5,403

19.1

4,821

17.8

12.1%

Net profit

12,928

14.2

9,847

11.8

31.3%

3,976

14.1

3,034

11.2

31.0%

Net financial position

16,132

 

7,970

 

 

 

 

 

 

 

 

Brescia, November 13, 2015 - 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 Interim Report at September 30, 2015.

Consolidated sales for the first nine months of 2015 grew by 9.1% on the corresponding period in 2014 up from €83.7 million to €91.3 million. In the 3rd Quarter of 2015, consolidated revenues grew instead by 4.4% on the 3rd Quarter of 2014 from €27.1 million to €28.2 million.

In the first nine months of 2015, 40.1% of Group sales were represented by Italy (as compared with 39.2% in the first nine months of 2014), 42.5% by the rest of Europe (45.4% in the first nine months of 2014), and the remaining 17.4% by the rest of the World (15.4% in the first nine months of 2014). In the same period, domestic sales grew by 11.8% and exports were up 7.4% on the corresponding period in 2014.

Consolidated gross operating profit (Ebitda) for the first nine months of 2015 amounted to €22.2 million, corresponding to a 24.3% margin on sales, up 22.2% on €18.2 million reported in the first nine months of 2014 (21.7% of sales).
Gross operating profit for the 3rd Quarter of 2015 amounted to €7.0 million, corresponding to a 24.6% margin on sales, up 13.5% on €6.1 million reported in the 3rd Quarter of 2014 (22.7% of sales).

Consolidated operating profit (Ebit) for the first nine months of 2015 amounted to €18.0 million (a 19.7% margin on sales), up 24.2% on €14.5 million in the first nine months of 2014 (when it represented a 17.3% margin on sales). Consolidated operating profit for the 3rd Quarter of 2015 amounted to €5.5 million, representing a 19.5% margin on sales, up on €4.8 million in the 3rd Quarter of 2014, when it represented a 17.6% margin on sales.

Consolidated profit before taxes for the first nine months of 2015 amounts to €18.1 million, representing a 19.8% margin on sales, up 23.3% on the profit before taxes reported in the first nine months of 2014, amounting to €14.7 million and corresponding to a 17.5% margin on sales.
Profit before taxes for the 3rd Quarter of 2015 amounts to €5.4 million, corresponding to a 19.1% margin on sales, up 12.1% on €4.8 million in the 3rd Quarter of 2014, when it amounted to a 17.8% margin on sales.

Consolidated net profit for the first nine months of 2015 amounted to €12.9 million, representing a 14.2% margin on sales, up 31.3% on €9.8 million in the first nine months of 2014, when it represented an 11.8% margin on sales.
Net profit for the 3rd Quarter of 2015 amounted to €4.0 million, representing a 14.1% margin on sales, up 31.0% on €3.0 million in the 3rd Quarter of 2014, when it represented an 11.2% margin on sales.

The consolidated net financial position at September 30, 2015 amounted to a surplus of €16.1 million, improving on June 30, 2015, when it amounted to a surplus of €8.4 million. The consolidated net financial position at September 30, 2014 was equal to a surplus of €8.0 million.

Capital investments in the first nine months of 2015 amounted to €4.9 million, down on the corresponding period in 2014 when they amounted to €6.3 million.

“In the first nine months of 2015 consolidated sales grew by 9.1% on the corresponding period in 2014 as a result of an 11.8% increase in domestic sales – achieved despite stable demand in the Italian market – and a 7.4% increase in exports. Operating profit and net profit reached their highest level. Sales for the ten months to October 2015 grew by 8.5% on the corresponding period in 2014, while at the end of the month the net financial position amounted to a surplus of €17.7 million, improving further on September 30, 2015 – commented the Chairman and Managing Director, Giovanni Rosani. “We expect to close 2015 reporting a growth in turnover over the previous year and achieving a further strengthening of the net financial position.” 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 subsidiary (Cembre Ltd. in Birmingham, U.K.), for a total workforce of 632 as of September 30, 2015. 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, 2015

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 2015 has not been audited.

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