HUNTER DOUGLAS N.V.

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HUNTER DOUGLAS : RESULTS Q1 2019

05/07/2019 | 02:28am

HUNTER DOUGLAS RESULTS Q1 2019

Rotterdam, May 7, 2019 - Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for Q1 2019:

  • Sales: 4.3% lower to USD 783.6 million,
    compared with USD 818.4 million in Q1 2018.

    The 4.3% sales decrease reflects a 2.0% volume increase, 4.0% negative currency impact, 3.8% decrease from divestments and 1.5% increase from acquisitions.
    Volume increased in all areas except in Asia where sales were lower.

    North America accounted for 47% of sales, Europe 40%, Asia 5%, Latin America 4%,
    and Australia 4%. Window Coverings were 90% and Architectural Products
    were 10% of sales.

  • Earnings before interest, tax, depreciation and amortization - EBITDA:
    USD 81.6 million, 2.9% higher than USD 79.3 million in Q1 2018.

  • Income from Operations:
    USD 46.0 million compared with USD 45.1 million in Q1 2018. Results in local currencies were better in all areas.

  • Profit before Tax: USD 43.0 million, 5.9% higher than USD 40.6 million in Q1 2018.

  • Total Net Profit: USD 34.5 million (per share EUR 0.87) compared with
    USD 33.1 million in Q1 2018 (per share EUR 0.78).


Operating cash flow:
USD 5.7 million negative compared with USD 16.7 million negative in Q1 2018.

IFRS standards
The 2018 Balance Sheet and Statement of Income have been restated for comparison reasons in order to comply with IFRS 16 - Lease accounting, implemented per January 1, 2019.

Outlook

Hunter Douglas expects continued but slower growth in the US, Europe and Asia, and improving economic conditions in Latin America.

Hunter Douglas is in a strong position in terms of its brands, products, distribution and finances.

Profile Hunter Douglas

Hunter Douglas is the world market leader in window coverings and a major manufacturer of architectural products. The Company has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Group is comprised of 133 companies with 47 manufacturing and 86 assembly operations in more than 100 countries. Hunter Douglas employs about 23,000 people and had sales in 2018 of USD 3.634 billion.

The common shares of Hunter Douglas N.V. are traded on Amsterdam's Euronext and the Frankfurter Börse .

For further information:

Leen Reijtenbagh
Chief Financial Officer
Tel. +31 10 486 9582
E-mail : l.reijtenbagh@hdnv.nl
Website: www.hunterdouglasgroup.com

A consolidated Statement of Income (Annex 1), Balance Sheet (Annex 2), Cash Flow Statement (Annex 3) and Sales change attribution percentages by geographic region (Annex 4) are attached.

Annex 1
Annex 2
Annex 3
Annex 4

Disclaimer

Hunter Douglas NV published this content on 07 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 May 2019 06:27:05 UTC

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