Earnings Release • Feb 5, 2015
Earnings Release
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(this is a translation of the Dutch press release issued by the company on the same date)
Most important developments in the 3rd quarter as compared to prior year:
Holland Colours realized a 16% improvement in revenue over the same period last year. The increase was mainly realized in the focus markets Building & Construction and Packaging.
Contrary to last year, Holland Colours closed the 3rd quarter with a positive net result.
The 3rd quarter revenue for the Division Europe was markedly higher when compared to prior year. This was composed of a strong increase in Packaging and a marked increase in Building & Construction partly off-set by lower results in the other markets. The revenue for the focus markets in the Division Americas showed, when measured in Euro's, significant to sharp increases with the exception of Specialties which stayed behind. Also in the Division Asia, again measured in Euro's, the companies strong increase in revenue was realized, mostly driven by the focus markets Specialties as well as Silicones & Elastomers.
Operating costs ended 12% higher versus the 3rd quarter of last year, yet, when corrected for currency, the increase was 6% (2% relates to one-time effects).
At group level, the Building & Construction focus market showed a marked increase over prior year with all three divisions contributing. The higher revenue in Packaging was driven by the Divisions Europe and Americas.
In the focus market Silicones & Elastomers, a limited increase in revenue was realized: improvements in the Americas and Asia were partly off-set by lower revenues in Europe.
Operating working capital increased marginally as compared to the same period last year which is partly explained by the currency impact and an increase in accounts receivable, in line with the revenue development. Inventory turnover improved further in the 3rd quarter.
The covenants agreed with the bank were met throughout the entire third quarter.
Unforeseen events aside, Holland Colours expects this financial year to realize sales comparable to 2013/2014 and a lower net result.
The results for the financial year 2013/2014 will be announced on May 28, 2015.
Apeldoorn, February 5, 2015
Rob Harmsen Margret Kleinsman Tineke Veldhuis – Hagedoorn
Holland Colours NV Rob Harmsen CEO
Telephone: +31 (0)55 368 07 00
Holland Colours was founded in 1979 and has been listed on the NYSE Euronext Amsterdam Stock Exchange since 1989. It is an independent Dutch corporation with offices in North America and Mexico, Europe and Asia.
Holland Colours makes products for colouring synthetic materials, the main products being Holcobatch and Holcoprill. Both these products have the advantage of being free flowing, dust-free, and very easy to dose. Furthermore, Holland Colours makes pastes for colouring silicones, elastomers, PET packaging and other applications.
Holland Colours concentrates worldwide on three focus markets:
Around 80% of turnover is realized in these three markets.
Virtually the entire production is generated by our four principal plants in the Netherlands, Hungary, the United States and Indonesia.
Holland Colours is organized in three regional divisions that operate as profit centres in each specific region: Europe (including the Middle East, India and Africa), Americas and Asia. The global turnover distribution is Europe 53%, Americas 32% and Asia 15%.
28 May 2015 Publication of annual figures for 2014/2015 09 July 2015 General Meeting of Shareholders
PO Box 720 | 7300 AS Apeldoorn | The Netherlands T +31 (0)55 368 07 00 | F +31 (0)55 366 29 81 [email protected] | www.hollandcolours.com
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