2016 ANNUAL RESULTS | Bourse Reflex
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Mercredi 15 Mar 2017 à 18:00

Stronger margins

Reduction in debt

In line with the goals of the Group's strategic roadmap

Turnover 547.0 513.9 524.2
EBITDA4 14.0 15.0 18.6
Current operating income 0.9 2.7 6.6
Consolidated net income -14.6 -14.6 1.5
Net income, Group share -14.1 -14.1 1.8
Net financial debt 87.1 87.1 62.6
Gearing 78% 78% 56%
  1. Financial statements for 2015 were reported in line with IFRS 5.
  2. Figures are restated for activities in the process of being sold on 12/31/2016 in accordance with IFRS 5.
  3. Figures for 2016 are reported in line with IFRS 5 (excluding activities sold or in the process of being sold). The audit procedures have been completed and the auditors' report on the financial statements is in the process of being issued.
  4. EBITDA: current operating income + net depreciation and amortization.

HERIGE has released its audited results for financial year 2016. The consolidated financial statements were examined by the Supervisory Board at its 10 March 2017 meeting.

On 7 February 2017, HERIGE announced its decision to pursue with its program of sales which impacted its Building Materials trading and Concrete Industry business divisions on 31 December 2016. In accordance with IFRS 5, the assets and liabilities of the ventures in the process of being sold have been booked under separate headings on the Group's balance sheet and income statement.

2016 results: increase in margins

HERIGE Group reported turnover of €524.2 million for 2016 as a whole, up 2% on 2015 thanks to a catch-up effect on the first half of the year and despite a negative calendar effect on the second.

At €199.5 million, consolidated gross margin kept pace with turnover, up 3.1% on 31 December 2015. Gross margin improved 0.4 points to 38.1% of turnover.

Current operating income for the period have increased and amounted to €6.6 million, resulting in a current operating margin of 1.3% as against 0.5% one year earlier.

Group net profit came in at a positive €1.8 million after a loss of €14.1 million in 2015.

Financial situation: ongoing internal investment and cut in net debt

HERIGE Group pursued its programme of internal investment over 2016 which is primarily devoted to improving its logistics and production resources (€13.2 million on 31 December 2016 compared with €14.7 million on 31 December 2015).

It was also able to cut net debt which finished the year at €62.6 million (compared with €87.1 million at the end of 2015), resulting in a 22-point improvement in gearing to 56% on 31 December 2016.

Proposed dividend payment of €0.50 per share

HERIGE will propose the payment of a dividend of €0.50 per share in respect of 2016 at its Annual General Meeting on 24 May.

Outlook and developments

In line with its 2016-2020 plan to redeploy to its core activities, HERIGE Group's persistent strategic focus is to achieve lasting profitable growth to finance its future development.

Against a positive backdrop of a gradual recovery in the construction sector, the Group intends to pursue its innovation and modernization drives. This strategy will go hand-in-hand with greater investment to refurbish its points of sale and modernize its WAREHOUSES for concrete and industrial tools.

Next publication: Q1 2017 turnover on 10 May 2017 (after the stock exchange closes).

All our financial communications are available on our website www.groupe-herige.fr

HERIGE (ex VM Matériaux) focuses on three business sectors of the building industry: Building materials trading, the Concrete industry and Industrial joinery. Originally based in the Vendée region, HERIGE currently employs more than 2,400 people and is active in Western France.
HERIGE is listed on Euronext Paris, Compartment C
PEA/pme eligible
Codes: isin FR0000066540, Ticker: HERIG
Bloomberg HERIG.FP, Reuters HERIG.PA


Alain MARION - Chairman of the Executive Board
Caroline LUTINIER - Head of Group Communication
Tel: +33 (0)2 51 08 08 08
E-mail: communication@groupe-herige.fr
ACTUS finance & communication
Analyst/Investor Relations
Tel: +33 (0)1 53 67 36 77 – E-mail: cpuissant@actus.fr
Anne-Catherine BONJOUR
Press Relations
Tel: +33 (0)1 53 67 36 93 - E-mail: acbonjour@actus.fr

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