Fourth-quarter turnover up 11%
|IFRS – € million |
|2017(1)||2016(2) IFRS 5||Change % 2017 vs 2016 IFRS 5 |
|Restated for disposal |
of VM Piscines(3)
|TOTAL||547.3||523.3||+4.6 %||+5.2 %|
|Trading Concrete Industry||76.4||69.7||+9.7%||+9.7%|
- Figures have not been audited. Turnover for 2017 is reported in line with IFRS 5 (excluding activities in the process of being sold). In accordance with IFRS 5, companies that are subject to negotiations for their sale are classed as "discontinued or held-for-sale" and are not included in the turnover reported for 2017. Turnover for 2017 and 2016 has been restated on a comparable pro-forma basis.
- Turnover restated for activities in the process of being sold in accordance with IFRS 5. The application of accounting standard IFRS 5 does not factor in the disposal of VM Piscines in January 2017.
- Disposal of VM Piscines in January 2017.
As part of its strategic transformation which began in February 2016, HERIGE Group continued with the divestment of certain activities in 2017 by selling its SXD and Bestkind activities in China, as well as its company Naullet and by stopping Biplan activity. These changes in the scope of consolidation were included in the accounts as at 31.12.17.
Robust growth of 11% in Q4
HERIGE posted turnover of €145.6 million (restated for IFRS 5) for the fourth quarter of 2017, up 11% on the same period the year before. Each of the Group's business activities contributed to this robust performance.
- Turnover for Building Materials increased by a strong 11.9% to €91.3 million (restated for IFRS 5), boosted by a positive calendar effect (+1 day), particularly clement weather conditions and a recovering market.
- Turnover for Trading Concrete Industry climbed 14.3% to stand at €19.2 million despite a persistently fierce competitive market.
- Industrial Joinery reported growth of 8.6% for the period on the back of France's latest energy efficiency measures (CITE).
Full-year turnover amounted to €547.3 million (restated for IFRS 5) in 2017, up 5.2% in line with the gradual rebound in sector activity but still impacted by the squeeze on margins.
Outlook and developments
HERIGE Group remains focused on revitalizing its sales strategy and resources, on industrial efficiency and on innovation and continues to be confident in its three business markets and its commercial performance for 2018.
Next publication: FY 2017 results on 27 March 2018 (after the stock exchange closes).
All our financial communications are available on our website: www.herige-group.com
HERIGE (ex VM Matériaux) focuses on three business sectors of the building industry: Materials trading, the Concrete industry and Industrial joinery. Originally based in the Vendée region, HERIGE currently employs more than 2,400 people and has a strong presence in Western France.
HERIGE is listed on Euronext Paris, Compartment C
Indices: CAC SMALL, CAC MID & SMALL, CAC ALL TRADABLE, ENTERNEXT©PEA-PME 150
Codes: ISIN FR0000066540, Ticker: HERIG
Bloomberg HERIG.FP, Reuters HERIG.PA
Alain MARION - Chairman of the Executive Board
Caroline LUTINIER - Head of Group Communication
Tel: +33 (0)2 51 08 08 08