SIMONA Group in Q3 2015
Financial Press Releases
Kirn. Revenue generated by the SIMONA Group expanded yet again in the third quarter of 2015. The overall rate of growth, however, was much slower compared to the first half of 2015.
This was attributable primarily to less pronounced investment spending on the part of customers operating in the industrial sector as well as the economic downturn in China, which also had a detrimental effect on export-driven customers based in Europe. Revenue totalled €89.7 million in the third quarter of 2015, up 3.5 per cent on the figure recorded for the same period a year ago.
In the first half of the year, by contrast, growth had totalled 12.4 per cent. In the first nine months of the financial year sales revenue amounted to €275.1 million, which corresponds to year-on-year growth of 9.8 per cent.
Revenue expanded significantly in the area of finished and semi-finished parts as well as in the pipes and fittings segment over the course of the first nine months.
The Group's financial position, performance and cash flows remain solid.
Due to lower gross profit margins, earnings in the third quarter of 2015 were down on the figure posted in the third quarter of 2014. Despite this, SIMONA is satisfied with its overall earnings performance in the first nine months. In the period from 1 January to 30 September 2015 EBIT stood at €20.3 million, up €7.7 million on the figure recorded for the same period a year ago. The EBIT margin rose from 5.0 per cent to 7.4 per cent.
The SIMONA Group will continue to pursue a revenue target of €345-355 million and an EBIT target of €22-26 million for the 2015 financial year. Given the more difficult economic conditions at a global level, achieving these targets is considered much more ambitious.