Implementation of growth drivers
Promising outlook for 2018
SergeFerrari Group (FR0011950682) designs, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
|Net income, Group share||2,780||4,279||-35.0%|
(financial statements audited, reports currently under preparation)
In line with its SF2020 strategic plan, in 2017 the Group continued to invest in growth (expansion of management teams, creation of new subsidiaries in India, China, Germany and Turkey), completed its sales reorganization program and made three acquisitions: Ferrateks, Milton Ltd and Plastitex Spa.
As announced, raw material supply costs increased sharply in 2017. These costs will be passed on the Group's selling prices as from January 1, 2018.
Meanwhile, changes in exchange rates versus the euro had an adverse impact on the Group's financial result.
As of December 31, 2017, the Group posted shareholders' equity of €92.5 million and net cash and cash equivalents of €12.9 million.
In 2018, SergeFerrari Group will focus on improving operating efficiency, under the aegis of the new Chief Industrial Operations Officer appointed in January 2018, and will capitalize on past years resources allocations in sales and marketing forces to strengthen organizational structure and improve efficiency in its sales operations.
After the Q4 2017 upswing, in 2018 the Group is aiming for growth in revenues and profit margins at constant consolidation, despite expectations of unfavorable currency movements during the year.
The Board of Directors will ask the shareholders' General Meeting to approve a dividend of €0.08 per share.
General Meeting: April 17, 2018, 10.30am, headquarters
Q1 2018 revenues, April 25, 2018 after market close
ABOUT SERGE FERRARI
SergeFerrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €6 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. The Group's principal competitive advantage lies in its differentiating technology – Précontraint® - and its associated proprietary industrial know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari is present in 80 countries through eight subsidiaries (in the US, Japan, Hong Kong, Brazil, India, China, Turkey and Germany), 2 representative offices (in Spain and Dubai) and a network of more than 100 distributors. At the end of 2017, Serge Ferrari posted consolidated revenue of €172 million of which 75% was achieved outside France. The company SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment.