SIMONA maintains forward momentum in first half of 2015
Financial Press Releases
Kirn. The SIMONA Group remained on track for growth in the first half of 2015, recording a substantial increase in both revenue and earnings.
Sales revenue totalled €185.3 million, up 12.4 per cent on the figure posted for the same period a year ago (€164.8 million). In the second quarter of 2015, sales revenue amounted to €97.6 million, which also represents a 12.4 per cent increase on revenue recorded in the second quarter of 2014 (€86.8 million).
The SIMONA Group is encouraged in particular by its performance in the company's core market of Europe as well as in the United States. Despite the lingering financial crisis, the conflict in Ukraine and the sluggish performance of the chemical and mechanical engineering sectors served by SIMONA, the Group managed to lift sales revenue in Europe by 2.7 per cent to €134.9 million (prev. year: €131.3 million). In the US, both the Industrial Products division as well as the Aviation and Specialty Products division, which is operated by Boltaron, succeeded in expanding business markedly. Revenue from sales in the United States rose by 63.3 per cent in total to €41.6 million (prev. year: €25.5 million; Q1 2014 without Boltaron). Although the Asia and Pacific region saw sales revenue expand by 10 per cent, the rate of growth achieved fell short of expectations.
SIMONA improved EBIT substantially compared to the first half of 2014, which took the figure to €16.1 million (prev. year: €5.6 million). At 8.7 per cent (prev. year: 3.4 per cent), the EBIT margin was well above the target of 5-6 per cent.
"We are on the right track. We have further improved our efficiency levels in Europe. In the United States, meanwhile, we generated substantial growth thanks to the acquisition of Laminations and Boltaron, while also significantly strengthening our market position. Now our focus beyond Europe is on the Asia and Pacific region. Here, we are currently launching a sales offensive, the focus being on the premium segment within the chemical processing, semiconductor and environmental technology industries. In Europe, our plan is to further improve our processes and unlock new fields of application in the construction, mobility and agricultural sectors," said Wolfgang Moyses, Chairman of the Management Board SIMONA AG.
SIMONA has revised upwards its forecast for the 2015 financial year as a whole. The Group is targeting sales revenue of €345-355 million (original forecast of €340-350 million) and EBIT of €22-26 million (original forecast of €15-20 million).
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