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Rosier S.A. — Earnings Release 2018
Oct 18, 2018
3996_iss_2018-10-18_f95adfa0-72a0-4205-b84a-bc25cdc4bb93.pdf
Earnings Release
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18 October 2018, 5 p.m. Regulated information Inside information
RESULTS as at 30 SEPTEMBER 20181
Sales: € 123.1 million (€ 147.0 million as at 30 September 2017) Operating result (EBIT): - € 8.8 million (- € 0.1 million as at 30 September 2017) Net loss for the period: - € 7.1 million (- € 0.6 million as at 30 September 2017)
Results
The distribution of our granular fertilisers throughout Europe reached one of the lowest levels ever in a long time.
As far as export is concerned, despite fierce competition, our sales of granular fertilizers kept on increasing. At the end of September 2018, sales had gone up by 14 % compared to 2017.
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Contrary to our expectations, specialties fertiliser sales during the third quarter decreased by 17 % compared with the same period in 2017. At the end of September, we had registered a fall in the delivery of specialties fertilizers across all our markets (- 9 %).
Consequently, third quarter results were poor.
This highly unfavourable backdrop kept on influencing our business and results till September 2018:
- § Sales at the end of September 2018 totalled € 123.1 million: a sharp fall (-16.3 %) compared with sales of € 147.0 million in 2017.
- § The gross margin decreased by € 7.7 million compared to 2017.
- Operating expenses were maintained at the level reached in 2017.
- § After deducting operating expenses, which include amortisation, depreciation and impairment charges of € 2.9 million (€ 3.2 million in 2017), operating result (EBIT) ended with a loss of € 8.8 million compared to a loss of € 0.1 million for the operating result at 30 September 2017.
ROSIER SA
Route de Grandmetz 11a – B-7911 Moustier (Hainaut) Tél. : +32 69 87 15 30 - Page 1 sur 2
1 The financial elements in this press release are established according to IFRS standards and were not audited by the Statutory Auditor.
§ After deduction of financial expenses and income tax, net loss for the period was € 7.1 million (-€ 27.76 per share), compared with a net loss of € 0.6 million (- € 2.46 per share) at the end of 2017 third quarter.
Outlook
The fourth quarter of 2018 should reverse the trend:
- We have a large volume of confirmed orders.
- However, the expected positive results are unlikely to compensate for the result reported at the end of September.
Nevertheless, we remain confident in the future: the demand should rise again according to our industry related fundamentals.
Willy Raymaekers Chairman and CEO of Rosier Group
ROSIER SA
Route de Grandmetz 11a – B-7911 Moustier (Hainaut) Tél. : +32 69 87 15 30 - Page 2 sur 2
E-mail : [email protected] www.rosier.eu