PRESS RELEASE
2017, 1st HALF-YEAR RESULTS
Anteuil, September 11, 2017
Sales are up by 18.5%
and the operating income by + 15.3%
A presence in 20 countries
38 sites: R&D, Logistics, Production and Sales
| Net sales | Current operating income | Operating income | Group share of net profit | Cashflow from operating activities |
| + 18.5% | 7,1% of sales | + 15.3% | + 7.7% | 2.9 M€ |
| + 5.6% CSER1 | 7.6 M€ | 7.1% of net sales | 2.8% of sales | + 1.7 M€ compared to 2016 |
| In M€ | 1st HY 2017 | 1st HY 2016 |
| Net sales | 107.1 | 90.4 |
| Ebitda | 10.6 | 10.1 |
| Current operating income | 7.6 | 7.7 |
| Operating income | 7.6 | 6.6 |
| Group share of net profit | 3.0 | 2.8 |
| Cashflow from operating activities | 2.9 | 1.2 |
| Net financial debt | 51.7 | 38.8 |
| Equity | 58.1 | 53.8 |
Net sales have increased by 18.5%, which represents + 5.6%at constant scope.
Sales in the Automotive division, representing 79% of the overall sales, are up by 5.0% (+ 3.6% CSER1). Global automotive growth for the same period is + 3.8%2. Sales in the "on-board networks protection" activity are up by 6.6% (+ 5.3% CSER1) with a particularly dynamic evolution in Asia (+ 9.4% CSER1) and in the Americas (+ 7.5% CSER1). The activity of "technical tubing for fluid transfer" records an increase of 15.0% (+12.8% CSER1). The performances were affected by the management of the downsizing of the" mechanical parts assembly" business (- 26%).
Sales in the Specialty markets are up by 119.6% mainly due to the impact of the DROSSBACH NA group acquisition (net sales of 11.7 M€ in 2017,1st half-year) and to the growth of the non-automotive technical textiles business (up by 13.2%).
In 2017, 1st half-year, DELFINGEN has generated a current operating income of 7.6. M€, which represents 7.1% of sales (8.3 % in 2016) with an improvement of the gross margin by 2.3 percentage points with important efforts to support the growth plan. The operating income is 7.6 M€ (up by 15.3%), the year 2016 having been impacted by one-off charges totaling 1.0 M€. The net profit amounts to 3.0 M€ (which represents 2.8% of sales), up by 7.7%.
The Group's net financial debt is at 51.7 M€ on June 30, 2017, compared to 38.8.M€ on June 30, 2016, due to the acquisition of the DROSSBACH NA group. The Gearing is 89%.
The forecast for global automotive production is an increase of 2 to 3%. In this environment and on the basis of the raw material costs remaining on line with the present levels, DELFINGEN expects further growth of its net sales and its operating margin in 2017. DELFINGEN confirms its 5-year strategic plan both in term of business growth and operating income objectives
(1) CSER: at constant scope and exchange rates
(2 ) Source: IHS
DELFINGEN, a global automotive supplier, and a leading manufacturter of on-board networks protection solutions and fluid transfer tubing.
EURONEXT Growth Paris - ISIN code: FR 0000054132 - Mnemonic code: ALDEL
Next press release: November 6, 2017 - 2017, 3rd quarter sales
Contact: M. Christophe Clerc : +33 (0)3.81.90.73.00 - www.delfingen.com
The full press release and all financial information pertaining to the DELFINGEN Group are available on www.delfingen.com
