TROAX: YEAR-END REPORT 2015
Hillerstorp 16th of February, 2016, 12.00 CET
OCTOBER – DECEMBER 2015
- Order intake increased by 7 per cent, or 5 per cent adjusted for acquisition and currency.
- Sales increased 10 per cent to 27,9 (25,3) MEUR.
- Adjusted for acquisition and currency the Sales increased 8 per cent.
- Operating profit increased to 6,6 (3,1) MEUR.
- Operating margin increased to 23,7 (12,3) per cent.
- Adjusted operating profit increased to 6,6 (5,0) MEUR.*)
- Adjusted operating margin increased to 23,7 (19,8) per cent, mostly explained by higher volumes.
- Earnings per share was 0,22 (0,08) EUR.
JANUARY – DECEMBER 2015
- Order intake increased by 22 per cent. Adjusted for acquisition and currency, the growth was 9 per cent.
- Net sales increased with 23 per cent to 103,7 (84,5) MEUR. Adjusted for acquisition and currency, the growth was 10 per cent.
- Operating profit increased to 22,4 (13,8) MEUR.
- Operating margin increased to 21,6 (16,3) per cent.
- Adjusted operating profit increased to 22,4 (15,0) MEUR.
- Adjusted operating margin increased to 21,6 (17,8) per cent explained by increased volumes.
- Earnings per share was 0,69 (0,44) EUR.
- The board suggest a dividend of 3,00 SEK (Swedish Krona) per share.
CEO COMMENTS
During the 4th quarter Troax, as throughout 2015 showed a good development in orders with an increase of 7 percent, compared with the strong last quarter of 2014. The development was especially positive in The Nordic region and New Markets. The development in the New Markets has continued to improve, from a low level. We have, during the quarter, received important orders both in North America as well as the Far East. The development in North America is positive with increasing order levels. However, despite several important new orders, a major breakthrough with the very large potential customers, has not yet been recorded. In Continental Europe, we did note an improvement in orders from larger customers relating to bigger investment in industrial projects.
Sales increased in the quarter by 10 per cent, compared with the same period last year. The sales development was particularly positive in the Nordic region and the New Markets The Nordic region`s good development has been mainly driven by strong construction sector activity.
The positive result development has continued during the quarter, largely due to higher sales and continuing good capacity utilization in our manufacturing units. The adjusted operating profit increased to 6,6 (5,0) MEUR, which is 32 per cent higher than the fourth quarter 2014. The integration of Satech is progressing according to plan and the company has delivered a significantly higher result than last year.
There is no significant currency impact in the result for the period.
The Working Capital has somewhat increased during the quarter, with a certain increase of the receivables. This is due to increased turnover towards the end of the period. Good generation of cash flow continues, and the Net Debt is reduced to 45,5 MEUR, despite continued investments in the new paint line.
In total, for 2015 the order intake increased with approx. 9 per cent, adjusted for acquisitions and currency. This corresponds also to the volume increase. Compared with the estimated market increase of some 4-6 per cent, this means Troax continues to take market share. The total operating profit amounted to 22,4 MEUR (15,0 2014). This corresponds to an operating margin of 21,6 per cent.
Thomas Widstrand, President and CEO
PHONE CONFERENCE
Invitation to presentation of the fourth quarter result:
Thomas Widstrand, CEO presents the result on a phone conference on the 16th of February 2016 at 17:00a.m. CET. The conference will be held in English. For more information please refer to www.troax.com.
This information is in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ Stockholm. The information was submitted for publication on 16th of February 2016 at 12.00 CET .
Thomas Widstrand
President and CEO
Troax Group AB
Box 89
330 33 Hillerstorp
Tel 46 (0)370-82831
http://www.troax.com
thomas.widstrand@troax.com
About Troax
Troax is the leading global supplier of indoor perimeter protection (“metal-based mesh panel solutions”) for the market segments: Machine guarding, Warehouse partitioning and Property Protection. Troax develops high quality and innovative safety solutions to protect people, property and processes.
Troax Group AB (publ), Reg. No. 556916-4030, has a global organisation with an unparalleled sales force and efficient logistics setup, enabling local presence and short delivery times in 33 countries.
In 2015 Troax net sales amounted to around 103 MEUR and the number of employees amounted to about 440 persons. The Company’s head office is located in Hillerstorp, Sweden.
Tags: