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Precia Molen Earnings Release 2019
1607_iss_2019-09-24_003305b5-a32b-4242-9fed-b8a38e323910.pdf
Earnings Release
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Privas, 24 September 2019, 6PM
| (in K€) | Semester 1 2019 |
2018 | Semester 1 2018 |
|---|---|---|---|
| Net Consolidated sales | 67 851 | 129 932 | 64 554 |
| Operational result | 5 748 | 10 961 | 5 125 |
| In % of net sales | 8,5% | 8,4% | 7,9% |
| Net Result (controlling interests) | 3 095 | 6 091 | 2 776 |
| In % of net sales | 4,6% | 4,7% | 4,3% |
| Earnings per shares (in Euros) | 5,7 | 11,1 | 5,0 |
First Semester 2019 consolidated results
The non-executive committee (conseil de surveillance), met on September 24th 2019. The Directory President approved and presented the first semester 2019 unaudited consolidated financial statements. The financial statements have been reviewed by the auditors.
Consolidated sales increased by 5.1% and operating result increased by 12.2% representing 8.5% of sales (7.9% in the first semester 2018)
The Precia Molen Group achieved a turnover of 67.9 M€ in the first semester of 2019. This represents an increase of 5.1% compared to the same period in 2018. At constant exchange rates and perimeter, organic growth amounts to 3.9%, while the effects of changes in foreign currencies amount to 0.1%. Acquisitions made over the past 12 months impacted sales by 1.1%. This first half of 2019 showed a strong growth for the Group in order intake in all its markets, which resulted in strong organic revenue growth and a backlog portfolio at the end of the semester notably higher than a year ago.
Operating profit for the period reached 5.7 M€ corresponding to 8.5% of the consolidated sales, it is in line with the Group's expectations for this semester. This improvement in the operating profit rate was due to a slight improvement in the gross margin rate as well as large deliveries over the period.
Net income (group share) for the six-month period amounts to 3.1 M€ (+11.5%), corresponding to 4.6% of the sales, compared to 4.3 % in 2018.
The earning per share also increased by 13,5% at 5.7 € per share for six months.
Strong cash flow generation and a solid financial structure
Cash net of financial debts amounts to 8.5 M€ compared to 4.6 M€ at the beginning of the year.
Cash and cash equivalents (gross cash) also rose sharply by 6.5 M€ to 30.7 M€.
This increase was mainly due to cash generated by the activity of 7.9 M€ and investments of 2.9 M€ (mainly in tangible assets). Working capital level is down sharply (as a percentage of sales) and represents 11% compared to 13.4% last year, a historically low level for the Group.
Outlook and forecast
The Group foresees an annual turnover between 135 and 140 million Euros in 2019, thanks to the dynamism of certain areas (France, Africa, Asia, ...), despite international economic tensions.
The good level of profitability of the above mentioned areas and the global good performance of the first semester indicate that the target of a 9 % global profitability is achievable at constant exchange rates.
Consolidated financial statements for the semester
The financial statements as at 30th June 2019 will be available on 27th September 2019 on the Company's web site: http://www.preciamolen.com/informations-reglementees/ (FR only)
Le Président du Directoire
René COLOMBEL
Contacts : PRECIA MOLEN BP 106 – 07001 PRIVAS CEDEX Tél. : +33 4 75 66 46 77 E-mail [email protected]
About Precia Molen
PRECIA MOLEN designs and manufactures, sells and maintains systems and solutions of industrial and commercial static weighing and of continuous weighing and dosing equipment. Main clients are heavy industries (mines, quarries, steel, environment, energy…) and light industries (food, chemicals, transportation and logistics…) and also public sectors (posts, local authorities…).
From design to after sales service, PRECIA-MOLEN is able to provide total weighing solutions for all businesses Precia Molen is present in 42 countries, with 19 commercial subsidiaries and a large network of selling agents. It has six production plants (France, The Netherlands, India, the United Kingdom, Morocco and Australia) and two assembly sites (Brazil, USA). The Group pursues a large research and innovation program, and has been granted an "Innovating Company" status by French authority Oseo.
Precia Molen is listed on NYSE Euronext's C compartment in Paris (code ISIN FR0000060832 - Mnemo: PREC).
More information on www.preciamolen.com