PRESS RELEASE
ANNUAL RESULTS 2016
Anteuil, March 27, 2017
DELFINGEN confirms its continuing growth in Asia and improves its results
A presence in 20 countries
38 sites: R&D, Logistics, Production and Sales
| Sales | Current operating income | Group share of net profit | Cashflow from operating activities | Dividend per share |
| + 2,1% | + 21% | + 12% | + 11% | + 11% |
| + 2.8% CSER1 | 8.1% of sales | 3.9% of sales | 6.2% of sales | ie 0.59 € per share |
| Audited accounts - in M€ | 2016 | 2015 |
| Sales | 175.8 | 172.2 |
| EBITDA | 19.6 | 17.0 |
| Current operating income | 14.3 | 11.8 |
| Operating income | 12.5 | 11.8 |
| Group share of net profit | 6.9 | 6.2 |
| Cashflow from operating activities | 11.0 | 9.8 |
| Net financial debt | 37.2 | 34.1 |
| Equity | 58.9 | 53.2 |
Sales have increased by 2.1% (2), which represents + 2.8% CSER (1)
Sales in the Automotive division, representing 89% of the overall sales, are up by 4.0% (+ 4.8% CSER). Global automotive growth for the same period is + 4.7%. Sales in the on-board networks protection activity are up by 5.3% (+ 6.2% CSER) with a particularly dynamic evolution in Asia (+ 10.6% CSER) and in the Americas (+ 5.1% CSER). The activity of technical tubing for fluid transfer records an increase of 10.7%. The performances were affected by the management of the downsizing of the mechanical parts assembly business (- 8.7%).
In 2016, DELFINGEN has generated a current operating income of 14.3 M€, up by 21%. This is particularly due to the improvement of the gross margin by 1.5 percentage points and a good control on expenditures and external charges. The operating income is 12.5 M€ after one-off charges totaling 1.8 M€ (2) and the net profit amounts to 6.9 M€, up by 12%.
The Group's net financial debt is at 37.2 M€ on December 31, 2016, compared to 34.1 M€ on December 31, 2015. The gearing is 64%.
DELFINGEN announced early January the acquisition of Drossbach North America, a company specialized in the manufacturing of wire harness protection solutions for the transportation, industry and robotics markets. Drossbach North America generates annual revenues of 18 M$ and has a headcount of 80 people.
The forecast for global automotive production is an increase of 2 to 3%. In this environment and on the basis of exchange rates and raw material costs remaining on line with the present levels, DELFINGEN expects further growth of its sales in 2017 and an enhancement of its financial performance.
(1) CSER: at constant scope and exchange rates
(2 ) re: annual financial report
DELFINGEN, a global automotive supplier, and a leading manufacturter of on-board networks protection solutions and fluid transfer tubing.
NYSE Alternext Paris - ISIN code: FR 0000054132 - Mnemonic code: ALDEL
Next press release: May 5, 2017 - 2017 1st 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
