COMPOSITES MATERIALS: UP 1.7%
SergeFerrari Group (FR0011950682) creates, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
Saint Jean de Soudain, May 6, 2015.
First quarter 2015 revenues amounted to €35.3 million while sales of flexible composite materials rose 1.7% over Q1 2014, driven by:
- 1.6% growth in volumes;
- Foreign exchange gains following appreciation in the U.S. dollar and Swiss franc, which accounted for 2.3% of sales growth;
- 2.2% adverse product mix variance: revenues to Professionals rose 3.1% with a lower average selling price per square meter than in "Architecture" activities, which edged down 0.8% compared to Q1 2014.
Revenue breakdown by region (unaudited)
The Rest of World region (ROW), which surged 30.8% in Q4 2014, was hit by a 5.7% rebound in first quarter 2015. Business trend in this region is positive.
| (€'000) | Q1 2015 | Q1 2014 | 2015 vs. 2014 |
| Southern Europe (SEUR) | 13,652 | 12,877 | +6.0% |
| Wide Europe (WEUR) | 12,160 | 11,933 | +1.9% |
| Rest of World (ROW) | 7,516 | 7,972 | -5.7% |
| Total flexible composite materials | 33,328 | 32,782 | +1.7% |
| Other products | 1,958 | 2,194 | -10.8% |
| Total revenues | 35,286 | 34,976 | +0.9% |
Ongoing implementation of the strategic plan
Implementation of the development plan continues:
- The 122 sales force headcount as of March 31, 2015 was similar to December 31, 2014. Most of the eighteen new sales staff planned for 2015 will be hired in the second quarter.
- The SAP implementation in the Company's production division at the PET (Emmenbrucke, Switzerland) micro-cables manufacturing plant was completed and the new system went live on April 1, 2015;
- Just under 20,000 square meters of Serge Ferrari flexible composite materials were selected for 15 projects, including 7 pavilions, by architects working on the Milan Expo. For this major event, countries across the world, charities and private consortia are invited to speak on "Feeding the Planet, Energy for Life".
Reporting first half 2015 results
SergeFerrari Group will report first half 2015 revenues and results on September 2, 2015 after market close.
Find all Company details at www.sergeferrari.com
| SERGE FERRARI CONTACT Philippe Brun Chief Financial Officer investor@sergeferrari.com |
INVESTOR/MEDIA CONTACT Amalia Naveira/Marie-Claude Triquet Actus Lyon Tel: 00 33 4 72 18 04 93 anaveira@actus.fr/mctriquet@actus.fr |
About Serge Ferrari
Serge Ferrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €31 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. The Group's principal competitive advantage lies in its differentiating technology - Précontraint® - and its associated proprietary industrial know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari is present in 80 countries through four subsidiaries (in the US, Japan, Hong Kong, Brazil), 5 representative offices (in Spain, Turkey, China, Singapore and Dubai) and a network of more than 100 distributors. At the end of 2014,
Serge Ferrari posted consolidated revenue of €142,3 million of which 75% was achieved outside France, with 605 employees. The company SergeFerrari Group is listed on Euronext Paris - Compartment C (isin code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment.
SergeFerrari Group is listed on Euronext Paris - Compartment C
