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2016 annual results

Mardi 28 Mar 2017 à 11:00

Sales up 20.3% to €615.2M

Operating income doubled to €24.0M

Dynamic commercial activity at +21.2%: substantial growth assured for 2017

Majority interest in Groupe L'Atelier Des Compagnons

The Board of MAISONS FRANCE CONFORT, meeting on 22 March 2017, approved the accounts for the accounting period ending on 31 December 2016. Audit procedures on the consolidated accounts have been completed. The auditors' certification report will be issued on publication of the annual FINANCIAL report.

Consolidated (€M) 31.12.2016 31.12.2015 % Var.
Sales 615.2 511.5 +20.3%
Operating Income 24.0 11.7 +105.1%
Operating Margin 3.9% 2.3% +1.6 pts
Financial Income 0.6 0.8 -25.0%
Net Income 15.8 8.2 +92.7%
Net Margin 2.6% 1.6% +1.0 pt

Strong growth in operating profitability

The MAISONS FRANCE CONFORT Group confirms sustained growth of activity in 2016 with a turnover of €615.2M, up 20.3% over last year (i.e. +15.5% at constant scope).

The operating income stands at €24.0M against €11.7M at 31 December 2015, showing an operating margin of 3.9% against 2.3% in 2015. This substantial increase in operating income, in accordance with our objectives, results above all from a volume effect associated with controlled development in fixed costs.

Thus, net income rose substantially, reaching €15.8M against €8.2M in 2015, and the net margin gains 1 point to 2. 6%.

The financial structure remains very sound. Shareholders' equity (Group's share) stands at €148.1M at 31 December 2016, the cash position at €94.9M and debt at €42.8M. The cash position net of debt at €52.1M (+ 21%) thus remains largely positive.

Dividend for the fiscal year 2016

The Board of Directors will propose the payment of a dividend of €1.0 per share (0.64 € for 2015) at the Annual General Meeting, on 23 May 2017. The payout will be MADE on 8 June 2017.

Dynamic business activity at + 21.2%

At end 2016, gross order intake in home construction business reaches 7,641 i.e. €845.8M before tax, up +19.3% in number and +21.2% in value over last year.

At the end of February, despite a more demanding comparison base, orders are still dynamic, the Group thus received 1,152 orders representing a turnover of €130.4M before tax, up +16. 7% in number and +19. 0% in value.

Order intake at 31 December 2016 of the Renovation activity (Rénovert, Camif Habitat and Illico Travaux) registers €43.5M with an improved orientation at year-end (+14% over the 4th quarter in 2015). This trend continues over the first two months of 2017 with sales up +28%.

These good order-intake levels assure MAISONS FRANCE CONFORT strong visibility and a solid growth dynamic for 2017.

The Groupe L'Atelier des Compagnons accelerates the development of the Renovation division

On 14 March last, the MAISONS FRANCE CONFORT Group announced its majority holding (51%) in the Groupe L'Atelier des Compagnons, with an agreement over the terms of the gradual development of this participation within the next 4 years.

Positioned in BtoB renovation, the Groupe L'Atelier des Compagnons has posted a 2016 turnover of €50M for an ebitda of €4.5M and boasts a very healthy financial structure. Immediately accretive, this highly structuring acquisition now perfectly completes the expertise and positioning of the Rénovert, Camif Habitat and Illico Travaux activities, oriented towards BtoC renovation.

Beyond the development of this growth relay, the MAISONS FRANCE CONFORT is also committed to significant synergies primarily on purchases, the national development of this activity and the accelerating deployment of Group innovations.

New improvement in profitability and strong growth ensured for 2017

Through the number of construction sites and orders registered these past months, MAISONS France CONFORT confirms the double-digit organic growth of its production for the year 2017 to which will be added external growth.

The diversification strategy conducted in the Renovation activity will result in a turnover of over €100M in this activity in 2017.

Given the volume effect in the home construction business and the stronger dynamic in the Renovation activity, operational profitability will again improve and should reach a more normative level.


Next press release: 1st quarter 2017 sales, on 4 May 2017, after stock exchange closing.



ABOUT MAISONS FRANCE CONFORT:

Founded in 1919, MAISONS FRANCE CONFORT is the oldest builder of single-family homes in France and the largest builder of single-family homes on individual plots. Already leader in the house construction, MAISONS FRANCE CONFORT became in 2015 the French No. 1 in house renovation. The Group operates in all 12 regions in France, with more than 375 sales offices.

Staff at 31 December 2016: 1,569 people.

MAISONS France CONFORT equities are eligible for PEA-PME equity savings plan.

MAISONS FRANCE CONFORT is listed on the Euronext Paris - Compartment B.

ISIN Number:  FR 0004159473 - Index: CACÒ Small, CACÒ Mid & Small, CACÒ All-Tradable, CACÒ All-Share

Commercial site: www.maisons-france-confort.comFinancial site: www.groupe-mfc.com
 

CONTACTS :  
MAISONS FRANCE CONFORT
Patrick Vandromme
Chairman and Managing Director
Tel. +33 (0)2 33 80 66 61
Email pvandromme@maisonfc.fr
 
ACTUS
Amalia Naveira
Analyst/Investor/Press relations
Tel. +33 (0)4 72 18 04 90
Email anaveira@actus.fr
 
 
   
Jean-Christophe Godet
Finance & Administration Manager
Tel. +33 (0)2 33 80 66 61
Email finances@maisonfc.fr
 
 
Marie Claude Triquet
Press relations
Tel. +33 (0)4 72 18 04 93 
Email mctriquet@actus.fr
 
 


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