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HERIGE — Earnings Release 2013
Feb 4, 2014
1398_iss_2014-02-04_784c2bfe-afa4-4a00-9205-4e9392be8c45.pdf
Earnings Release
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PRESS RELEASE
L'Herbergement, 4 February 2014, 18:00
2013 annual turnover
- 2013 annual turnover: €651.8 million (-1.7%*)
- 2013 fourth-quarter turnover: -4.5%*
* constant scope restated
| IFRS – € million Consolidated turnover |
2013(1) | 2012 | % change |
% change constant scope restated(2) |
|---|---|---|---|---|
| st quarter 1 |
161.1 | 163.7 | -1.6% | -1.1% |
| nd quarter 2 |
177.2 | 184.8 | -4.1% | 0.5% |
| rd quarter 3 |
153.6 | 164.6 | -6.7% | -2.0% |
| th quarter 4 |
159.9 | 176.5 | -9.4% | -4.5% |
| TOTAL | 651.8 | 689.6 | -5.5% | -1.7% |
| Building distribution | 451.3 | 486.0 | -7.1% | -1.6% |
| Concrete industry | 84.8 | 89.1 | -4.8% | -4.3% |
| Industrial joinery | 136.3 | 136.1 | 0.1% | -0.2% |
| Others (services) | 21.7 | 23.2 | -6.6% | -6.6% |
| Inter-segment eliminations | -42.2 | -44.8 | - | - |
(1) Figures have not been audited.
(2) For 2012, the restated figures include Fene-Tech and exclude sales locations in Southwest France, VM Piégiut and Royan Bois, the concrete plant in Le Buisson, and Isiland. For 2013, restated figures exclude sale of stocks linked to disposal of VM Piégut and the Southwest France sales locations.
Q4 2013 turnover
VM Matériaux posted turnover of €159.9 million for the 4 th quarter of 2013, down 4.5% from the same period of 2012 at constant scope restated (-9.4% at same scope). The pullback in activity since September was confirmed during the 4 th quarter as the construction market deteriorated severely at year-end (housing starts declined by 8.8% in the last three months of the year).
The 4 th quarter trend is evident in all Group businesses, with:
- a 4.5% decline at constant scope restated (down 12.0% at same scope) for Building distribution in a market that continues to be difficult for new construction, except for the public works business,
- a 4.0% decline for the Concrete industry at constant scope restated (down 4.2% at same scope), reflecting lower volumes,
- a 5.4% pullback in Industrial joinery, which had seen a pick-up in activity in the preceding quarters, particularly in PVC and entry closures. The decline reflects four fewer working days.
Business in 2013: good resilience in a lacklustre construction market
The 2013 financial year ended with Group turnover of €651.8 million, down 1.7% from 2012 at constant scope restated (-5.5% at same scope). With the market still slack in 2013 (down 3.2% during the last 12 months), the Group showed good resilience in its Building distribution business (down 1.6% at constant scope restated) and Industrial joinery (off just 0.2% at constant scope restated). Large volume declines had a severe impact on the Concrete industry business (down 4.3% at constant scope restated), as it is oriented to new construction.
In this environment, the Group is pursuing its reorganisation project and its programme of selling non-strategic assets. Under this programme, it made a partial sale of property assets on 31 December 2013. When these operations are finalised, the completed sales should account for nearly €18 million of the announced programme.
With the market outlook still uncertain, the Group remains confident that its fundamentals, its sales strength and its disciplined management approach will enable it to win back market share.
NEXT PRESS RELEASE: FY 2013 results on 19 March 2014 (after stock exchange closes)
All our financial communications are available on our website: www.vm-materiaux.fr
ABOUT VM MATÉRIAUX
The VM Matériaux Group focuses on three business sectors of the building industry: Materials trading, the Concrete industry and Industrial joinery. Originally based in the Vendée region, VM Matériaux now employs over 2,700 people and is active in Western France and the French overseas departments as well as in China and Canada. In 2013, the Group generated total turnover of €651.8 million.
VM Matériaux is listed on NYSE-Euronext Paris, Compartment C Indexes: PAX, Gaia Index Codes: ISIN FR0000066540, Reuters VMMP.PA, Bloomberg VMM.FP, Ticker: VMMA
CONTACTS
VM MATERIAUX ACTUS FINANCE
Philippe Audureau – Chairman of the Board of Directors Corinne Puissant
Tel.: + 33 1 53 67 36 57 - E-mail: [email protected] Alain Marion - General and Financial Manager Tel.: +33 2 51 08 08 08 - E-mail: [email protected]
Caroline Lutinier - Head of Group Communication Tel.: +33 2 51 08 08 08 - E-mail: [email protected]
Analyst/Investor Relations
Anne-Catherine Bonjour Media Relations Tel.: +33 1 53 67 36 93 - E-mail: [email protected]