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Sanitec Corporation: Organic growth in the fourth quarter 2013

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Financial Statements Release 2013

Helsinki, 19 February 2014, 08:00 CET/ 09:00 EET

Fourth quarter 2013 in brief

  • Net sales for the fourth quarter amounted to EUR 167.5 million (167.8). Comparable net sales for the fourth quarter were 1.4% higher than prior year 1).
  • Operating profit for the fourth quarter increased to EUR 14.2 million (12.7), 8.5% (7.6) of net sales. 
  • Operating profit for the fourth quarter adjusted for items affecting comparability increased to EUR 17.9 million (16.9), 10.7% (10.0) of net sales.
  • Profit for the fourth quarter amounted to EUR 12.1 million (18.6).
  • Cash flow from operating activities for the fourth quarter amounted to EUR 38.3 million (28.4).
  • During December the shares in Sanitec (SNTC) were listed on NASDAQ OMX Stockholm.

Full year 2013 in brief

  • Net sales for 2013 amounted to EUR 701.8 million (752.8). Comparable net sales for the year were 3.9% lower than prior year 1).
  • The lower sales was explained by lower volume due to still challenging macroeconomic conditions in key markets, offset by better product mix and increased average sales prices, especially for Bathroom Ceramics. 
  • Operating profit for 2013 amounted to EUR 67.9 million (73.0), 9.7% (9.7) of net sales.
  • Operating profit for 2013 adjusted for items affecting comparability amounted to EUR 74.4 million (77.9), 10.6% (10.4) of net sales.
  • Profit for the period amounted to EUR 42.5 million (71.7). 
  • Earnings per share, basic and diluted, were EUR 0.42 (0.72).
  • Cash flow from operating activities for 2013 amounted to EUR 74.7 million (87.9).
  • The Board proposes a distribution through a refund of capital of EUR 0.22 per share from the reserve for invested unrestricted equity.

1) Calculated in comparable legal structure and constant currency, i.e. organic change

Please click the attached pdf document or visit www.sanitec.com (Investors>Reports) to download Sanitec's Financial Statements Release 2013 in English or in Swedish.

For additional information, please contact:

Niklas Alm
Head of Investor Relations
ir@sanitec.com
mob. 46 76 855 7836

Noora Koikkalainen
Head of Corporate Communications
sanitec.corporation@sanitec.com
tel. 358 10 662 5426

About Sanitec
Sanitec is the market leader in bathroom ceramics and a leading supplier of bathroom fixtures in the Company’s core markets with a unique portfolio of locally well-established brands. Sanitec has longstanding and stable relationships with customers, installers and other industrial partners, and develops sustainable and complete bathroom concepts including bathroom ceramics, furniture, pre-wall flushing solutions, taps and mixers, as well as baths and showers. Sanitec’s brands and products represent a high level of innovation and quality, as well as advanced design that is both functional and attractive.

Sanitec operates an integrated organisation with an unparalleled local presence to provide the best value to its customers when it comes to bathroom products. In 2012 net sales amounted to EUR 753 million, and currently Sanitec employs approximately 6,500 people working in 18 European based production plants and at the Company’s sales, product management and design and other support offices. Sanitec’s head office is located in Helsinki, Finland.

The shares in Sanitec Corporation are admitted on trading on NASDAQ OMX Stockholm under the symbol “SNTC”.

For more information about Sanitec and its products, please visit www.sanitec.com.

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