Earnings Release • Feb 12, 2016
Earnings Release
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(this is a translation of the Dutch press release issued by the company on the same date)
Key developments in the third quarter:
Holland Colours realised a 9% revenue increase in the third quarter of the 2015/2016 financial year versus the same period last year. Favourable currency effects, mainly from appreciation of the US dollar, explain about 7% of the revenue increase.
Revenue for the division Europe was markedly higher, driven by an increase in the Building & Construction market. Revenue for Silicones & Elastomers as well as Specialties also increased while revenue in Packaging stayed behind the third quarter last year.
Revenue for the division Americas, as measured in USD, increased marginally in comparison to the third quarter last year: Building & Construction as well as Specialties was up while both Silicones & Elastomers and Packaging ended below last year's level.
Revenue for the division Asia, also measured in USD, was down in all focus markets as compared to prior year.
The gross margin percentage for HCA over the third quarter of 2015/2016 showed a modest increase over prior year's third quarter.
Operating costs ended somewhat higher as compared to the third quarter 2014/2015, mainly explained by currency effects.
The 2% autonomous growth in revenue, combined with a modest increase of the gross margin percentage and stable operating costs (in same currencies) resulted in an improved operating result. Net result ended higher as well supported by lower costs for financing and despite higher income tax.
The operating working capital per the end of December 2015 ended below the level of December 2016 with inventories and trade payables up and trade receivables down.
In the third quarter of 2015/2016, Holland Colours did meet all covenants as agreed with the bank.
Unforeseen events aside, Holland Colours expects revenue as well as the net result for the full financial year to end above prior year.
The results for the financial year 2015/2016 will be announced on May 26, 2016.
Holland Colours NV, 11 February 2016 The Management Board
Rob Harmsen Margret Kleinsman
Holland Colours Rob Harmsen CEO Holland Colours Tel: + 31 (0)55 - 36 80 700
Holland Colours NV was founded in 1979 and has been listed on the NYSE Euronext Amsterdam Stock Exchange since 1989. It is an independent Dutch company with offices in North America, Mexico, Europe and Asia. Holland Colours makes products for colouring synthetic materials. These so-called colour concentrates are available as both solid and liquid. The key products in solid form are Holcobatch and Holcoprill. The liquid products Holland Colours makes are pastes for colouring Silicones & Elastomers, PET packaging and various other applications.
Holland Colours concentrates worldwide on three markets:
Roughly 80% of sales are realised in these three markets.
Virtually the entire production is generated by the four principal plants in the Netherlands, Hungary, the United States and Indonesia.
Holland Colours is organised in three regional divisions that operate as profit centres in each specific region: Europe (including the Middle East, India and Africa), the Americas and Asia.
The worldwide distribution of sales is as follows: Europe 53%, Americas 33% and Asia 14%.
May 26, 2016 Publication annual figures for 2015/2016 July 7, 2016 General meeting of shareholders
Tel: +31 (0)55 368 0700
PO Box 720 | 7300 AS Apeldoorn | The Netherlands T +31 (0)55 368 0700 | F +31 (0)55 366 29 81 [email protected] www.hollandcolours.com
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