H1 net profit at protective clothing maker Sioen up 68.5%
September 05, 2014 - Belgium
Net profit at Sioen Industries NV, a producer of technical textiles, fine chemicals and high-tech protective clothing surged 68.5% in the six months to June 2014, when compared with the same period of 2013.
Belgium based Sioen Industries recorded a net profit from continuing operations of EUR 9.1 million for the first half of 2014, growing by 68.5% compared to EUR 5.4 million over the same period last year.
In the first half of 2014, sales from continuing operations at Sioen Industries rose 3.1% to EUR 166.7 million, compared to EUR 161.7 million from the first half of 2013.
Segment wise, in the first half of 2014, the apparel division posted revenue from continuing operations of EUR 49.9 million against EUR 45.4 million from a year earlier, or a growth of 9.8%. Sioen said the division reported growth in all its segments like industrial, outdoor, workwear, etc.
In the period under review, the coating division achieved sales from continuing operations of EUR 96.4 million versus EUR 95.8 million over the same period last year. Sioen said growth was mainly driven by the product lines of truck, agriculture and building.
In the first half of 2014, the chemicals division reported flat growth in sales at EUR 20.4 million compared to EUR 20.5 million in first half of 2013.
Gross profit at Sioen Industries rose to EUR 83.1 million in first half of 2014, compared to EUR 79.6 million over the same period in 2013.
Operating profit in the first six months of 2014 amounted to EUR 15.3 million versus EUR 11.3 million, from a year earlier period. As a percentage of net sales, operating margin rose from 7.0% to 9.2% in first half of 2014.
The net cash flow from continuing operations amounted to EUR 18.0 million against EUR 13.8 million in the first half of 2013.
Working capital as a percentage of net sales, declined slightly from 32.4% as on June 30, 2013 to 30.9% as on June 30 2014.
Net debt fell from EUR 49.9 million at the end of last year, to EUR 48.6 million at the end of June 2014.
On its outlook for the rest of the year, Sioen anticipates that macro-economic indicators will show little growth. On the contrary, it expects that geopolitical uncertainty and potential raw material price increases weigh heavily on the future. (AR)
Belgium based Sioen Industries recorded a net profit from continuing operations of EUR 9.1 million for the first half of 2014, growing by 68.5% compared to EUR 5.4 million over the same period last year.
In the first half of 2014, sales from continuing operations at Sioen Industries rose 3.1% to EUR 166.7 million, compared to EUR 161.7 million from the first half of 2013.
Segment wise, in the first half of 2014, the apparel division posted revenue from continuing operations of EUR 49.9 million against EUR 45.4 million from a year earlier, or a growth of 9.8%. Sioen said the division reported growth in all its segments like industrial, outdoor, workwear, etc.
In the period under review, the coating division achieved sales from continuing operations of EUR 96.4 million versus EUR 95.8 million over the same period last year. Sioen said growth was mainly driven by the product lines of truck, agriculture and building.
In the first half of 2014, the chemicals division reported flat growth in sales at EUR 20.4 million compared to EUR 20.5 million in first half of 2013.
Gross profit at Sioen Industries rose to EUR 83.1 million in first half of 2014, compared to EUR 79.6 million over the same period in 2013.
Operating profit in the first six months of 2014 amounted to EUR 15.3 million versus EUR 11.3 million, from a year earlier period. As a percentage of net sales, operating margin rose from 7.0% to 9.2% in first half of 2014.
The net cash flow from continuing operations amounted to EUR 18.0 million against EUR 13.8 million in the first half of 2013.
Working capital as a percentage of net sales, declined slightly from 32.4% as on June 30, 2013 to 30.9% as on June 30 2014.
Net debt fell from EUR 49.9 million at the end of last year, to EUR 48.6 million at the end of June 2014.
On its outlook for the rest of the year, Sioen anticipates that macro-economic indicators will show little growth. On the contrary, it expects that geopolitical uncertainty and potential raw material price increases weigh heavily on the future. (AR)