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Texaf S.A. — Interim / Quarterly Report 2014
May 16, 2014
4011_iss_2014-05-16_491d241b-a90c-4f18-b0a1-ae9679ad5041.pdf
Interim / Quarterly Report
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INTERIM STATEMENT 16.05.2014
REGULATED INFORMATION
The activities of the TEXAF group in the DRC have developed as follows over the course of the 1st quarter.
- CARRIGRES (sandstone quarry in Kinshasa): following a two-week shutdown for repairs in March, turnover for the first quarter of 2014 declined by 8 % against the same period last year, amounting to €1.3 million. In April, the primary and secondary crushers have been voluntarily stopped to allow for a refurbishment and the complete replacement of the electrical equipment and cables.
- Real-estate activities (renting of residential property and office space in Kinshasa) benefited from, amongst other things, the new Champ de Coton buildings (24 one-bedroom apartments) and additional office surfaces. Total rent came to €3.2 million over the first quarter, an increase of 12 % compared to 2013.
The two next phase of the Champ de Coton project are presently being erected : two buildings (8 three-bedroom apartments) for delivery in the summer 2014 and five (20 two-, three- or four bedroom apartments) over the first semester 2015. In parallel, the group is transforming 5,500 sqm old warehouses in offices for delivery in the beginning 2015.
Champ de Coton Phase I
Overall, the group confirms that it is anticipating a substantial increase in recurring operating profit for 2014 compared to the previous year.
TEXAF, established in 1925, is the only Euronext-listed industrial, real-estate and agricultural investment company with all of its activities and subsidiaries based in the Democratic Republic of Congo. The listing of the Congolese businesses on the stock exchange and the resulting obligations of good governance and transparency constitute a major asset for the group for the promotion of the formal sector in the DRC.
Contact: Philippe Croonenberghs, CEO: +32 495 24 32 64 Christophe Evers, CFO : + 32 495 24 32 60