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SergeFerrari Group — Earnings Release 2018
Apr 25, 2018
1658_10-q_2018-04-25_62b72927-628c-401d-b57c-0e0c5546a567.pdf
Earnings Release
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Press Release
Saint Jean de Soudain, April 25, 2018
First quarter 2018 revenues up 7.2%
SergeFerrari Group (FR0011950682) designs, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
Revenue breakdown by region (unaudited)
| €000 | Q1 2018 | Q1 2017 | Change |
|---|---|---|---|
| Southern Europe (SEUR) | 15,761 | 14,520 | $+8.5%$ |
| Wide Europe (WEUR) | 12,180 | 12,969 | $-6.1\%$ |
| Rest of World (ROW) | 7,841 | 8,768 | $-10.6%$ |
| Serge Ferrari materials | 35,782 | 36,257 | $-1.3%$ |
| Other operations | 1,652 | 1,690 | $-2.2\%$ |
| Acquired operations (1) | 7,801 | 4,180 | |
| $-1,494$ | $-1,333$ | ||
| Total revenues (1) |
43,741 | 40,794 | $+7.2%$ |
(1) Giofex, Ferramat, Milton, Plastitex
First quarter 2018 Serge Ferrari materials like-for-like revenues rose 0.9% year-on-year. Exchange rate movements resulted as expected in reducing revenues by 2.2%.
Serge Ferrari materials sales price hikes since January 1, 2018 improved the sales mix and boosted sales by 2.4%.
Southern Europe resumed sharp revenue growth while Wide Europe and Rest of World revenues came in down following a surge in Q4 2017 revenues of 12.6% and 15% respectively.
Acquisitions increased total revenues by 7.8%.
Outlook
Having successfully completed its sales organization, the Group expects sharp growth in Serge Ferrari materials Q2 2018 like-for-like revenues.
Under its SF2020 plan, the Group reaffirms its strategy to combine organic growth with acquisition-driven growth.