PIERRE JEAN SIVIGNON FINANCIAL. Deputy Chief Executive Officer, Chief Financial Officer RESULTS

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "PIERRE JEAN SIVIGNON FINANCIAL. Deputy Chief Executive Officer, Chief Financial Officer RESULTS"

Transcription

1 FULL YEAR RESULTS

2 FINANCIAL RESULTS PIERRE JEAN SIVIGNON Deputy Chief Executive Officer, Chief Financial Officer

3 FURTHER PROFIT GROWTH IN 2015 Variation at (in m) (1) constant exch. rates Variation at current exch. rates Net sales 74,706 76, % +3.0% Net sales excluding petrol 67,237 70, % +4.5% Gross margin 17,049 18, % +5.7% EBITDA (2) 3,803 3, % +4.0% EBITDA margin 5.0% 5.1% Recurring Operating Income (ROI) 2,387 2, % +2.4% ROI margin 3.2% 3.2% ROI (including associates and joint ventures) 2,423 2, % +2.7% ROI margin (including associates and joint ventures) 3,2% 3.2% Adjusted net income, Group share 1,040 1, % Free cash flow from continuing operations, excluding exceptional items m Net debt at close 4,954 4, m (1) The 2015 consolidated financial statements, approved by the Board of Directors on March 9 th, 2016 have been audited by the statutory auditors (2) Recurring operating income before depreciation and amortization (including supply chain depreciation) 3

4 3.0% GROWTH IN ORGANIC SALES IN sales variation (in bn and %) 74.7 bn +2.4% +2.5% +4.1% -1.1% +0.6% +3.0% +3.0% 76.9 bn -1.4% 77.7 bn 76.9 bn 2014 net sales LFL Openings/ Closings 2015 ex. petrol organic sales Petrol impact Acquisitions/ Disposals 2015 net sales at constant exch. rates Currencies impact 2015 net sales 4

5 FOURTH CONSECUTIVE YEAR OF GROWTH FOR CARREFOUR Organic ex. petrol sales growth from 2012 to 2015 (in %) +3.0% CAGR CUMULATIVE c +2.5% +10.6% +3.9% +2.3% +1.0%

6 GROSS MARGIN HOLDS UP WELL Gross margin (in m) Gross margin (As a % of net sales) +6.4% at constant exch. rates 17,049 18, bp 22.8% 23.4% Further improvement in gross margin as a result of action plans and growth c in sales volumes, particularly in Latin America Marge commerciale en M

7 GOOD CONTROL OF OPERATING COSTS Operating costs (in m) Operating costs (As a % of ex. petrol sales) +6.1% at constant exch. rates 12,373 13, bp Operating costs under control in France and stable in other European countries 18.4% 18.6% Wage and energy inflation in Latin America and Asia Coûts d'exploitation en M

8 EVOLUTION OF ASSET COSTS Asset costs (in m) Asset costs (As a % of ex. petrol sales) +7.4% at constant exch. rates 2,289 2, bp Continuing maintenance and renovation program 3.4% 3.6% Coûts d'actifs en M

9 FRANCE: SOLID PERFORMANCE Net sales Organic growth (1) ROI Operating margin Further organic sales growth +1.0% +1.2% +1.1% 36.3 bn 2.6% 3.4% 3.6% 3.7% proforma (2) 3.3% 1.19 bn Gross margin holds up well Proforma operating margin up 10bp -1.6% (1) Organic ex. Petrol, ex. calendar (2) Proforma excluding the integration of DIA, the increase in the tax on retail sales areas and the transfer to Carmila of rental income from shopping malls 9

10 OTHER EUROPEAN COUNTRIES: FURTHER INCREASE IN PROFITABILITY Net sales Organic growth (1) ROI Operating margin ROI up 33.4%, 70bp improvement in operating margin 2.5% 2.9% Improved sales trend in H2 +1.2% 19.7 bn 2.0% 2.2% 567 m Increased profitability in all countries -0.3% -2.5% -2.8% Continued action plans in all countries (1) Organic ex. Petrol, ex. calendar 10

11 LATIN AMERICA: ANOTHER YEAR OF STRONG GROWTH Net sales Organic growth (1) ROI Operating margin Strong sales growth in Latin America despite a more difficult environment +18.1% +15.7% 4.7% 4.9% +12.5% +12.3% 14.3 bn 4.3% 4.5% 705 m Gross margin Improvement +23.5% increase in ROI (at constant exch. rates), marking the 5 th consecutive year of growth in the zone (1) Organic ex. Petrol, ex. calendar 11

12 ASIA: REPOSITIONING OF THE OPERATING MODEL IN CHINA, GROWTH IN TAIWAN Net sales Organic growth (1) ROI Operating margin 2.8% Robust gross margin 2.0% +0.2% +2.2% 1.5% 13 m 0.2% Repositioning of our operating model in China -1.8% 6.7 bn -9.5% Resumption of growth in Taiwan (1) Organic ex. Petrol, ex. calendar 12

13 A WELL-BALANCED FOOTPRINT WITH SEVERAL GROWTH ENGINES Breakdown of 2015 net sales Breakdown of 2015 ROI Solidity in France 19% 29% Recovery in Europe 8% 47% 1% 47% Growth in Latin America 26% 23% Repositioning of the operating model in China and return to growth in Taiwan France Europe ex. France Asia Latin America 13

14 DROP IN NET INTEREST EXPENSES (in m) Recurring operating income 2,387 2,445 Net income from associates and joint ventures ROI including associates and joint ventures 2,423 2,489 Non-recurring income : Mainly due to capital gains linked to the asset contribution for the creation of Carmila 2015: Mainly due to restructuring costs in several countries (notably in China and France) EBIT 2,572 2,232 Net financial expenses Net interest expense Other net financial expenses Drop in net interest expenses, reflecting refinancing redemptions at lower interest rates 14

15 GROWTH IN ADJUSTED NET INCOME, GROUP SHARE (in m) Income before taxes 2,010 1,717 Income tax Effective tax rate 35.3% 34.8% Net income from continuing operations 1,300 1,120 Minority share of net income from continuing operations Net income from continuing operations, Group share 1, Net income from discontinued operations, Group share 67 4 Net income, Group share 1, Adjusted net income, Group share 1,040 11, % Mainly adjusted for non-recurring income 15

16 CONSISTENCY IN INVESTMENT POLICY: 2.4bn IN 2015 Breakdown of 2015 investments by region Breakdown of 2015 investments by nature Continued program to bring stores up to standards 9% 22% 24% 45% 37% 15% 22% 26% Multi-format expansion, as illustrated by Atacadao Investments in IT simplification and omni-channel roll-out France Europe ex. France Expansion Remodelling First year of the transformation plan of DIA stores in France Asia Latin America Maintenance IT 16

17 STABILIZATION OF INVESTMENTS, IN LINE WITH THE SECTOR Comparative evolution of investments as a % of net sales Sector Carrefour Source : Annual reports and Bloomberg for 2015 estimates Sector : Auchan, Ahold, Casino, Tesco, Walmart 17

18 FREE CASH FLOW OF CLOSE TO 1BN IN 2015 (in m) Gross cash flow (excluding discontinued operations) 2,504 2,733 Change in working capital Capital expenditures -2,411-2,378 Change in net payables to fixed asset suppliers Asset disposals (business related) Impact of discontinued operations Free cash flow Impact of exceptional items Free cash flow from continuing operations, excluding exceptional items (1) Free cash flow from continuing operations, excluding exceptional items 18

19 SHARPLY IMPROVED FREE CASH FLOW IN 2015 Change in free cash flow (continuing operations, excluding exceptional items) (in m) 62 m 153 m Increase of +287 m 229 m -93 m -64 m 951 m 664 m Free cash flow from continuing operations, excluding exceptional items 2014 Change Gross cash flow Change of WC Change of WC of payables to fixed asset suppliers Impact of exceptional items Others (1) Free cash flow from continuing operations, excluding exceptional items 2015 (1) Of which change in capital expenditures, change in business related asset disposals and change in discontinued operations 19

20 DROP IN NET DEBT IN 2015 Net debt (in m) 347 m 390 m 98 m 4,954 m 951 m 208 m 394 m 310 m Drop in net debt of 408 m 4,546 m Opening net debt Dividends paid by parent company Dividends paid to noncontrolling interests Cost of net financial debt Free cash flow Disposals of investments without change in control Disposal of shares held in treasury Exceptional items and other elements Closing net debt 20

21 IMPROVED CREDIT RATING AND EXTENDED DEBT MATURITY Debt redemption schedule (in m) 667 1, ,000 1,000 1,000 1, On February 3 rd 2015, issuance of a 750m bond with a maturity of 10.3 years and a 1.25% coupon On June 12 th 2015, 644m of bonds reached maturity 4,38% 2,44% 5,25% 1,75% 4,00% 3,88% 1,75% 1,25% At end 2015, the average bond maturity increased by 0.1 year to 4.4 years 2015 issuance Average annual coupon 21

22 INCREASE IN PROPOSED DIVIDEND: 0.70 PER SHARE Dividend of 0.70 proposed to the General Shareholder s Meeting on May 17 th, 2016 Payout of 45% of adjusted net income, Group share, in line with our distribution policy Payment in shares or in cash 22

23 CONCLUSION

24 CONTINUED GROWTH MOMENTUM IN 2015 Strong sales growth Sales up 3.0% on an organic basis Growth on an already strong base in 2014 Solid profit growth +7.0% growth in Recurring Operating Income at constant exch. rates and +11.5% proforma +7.1% growth in adjusted net income, Group share Strong improvement in free cash flow 2016 Outlook Total investments between 2.5bn et 2.6bn Constant focus on free cash flow generation Continued strict financial discipline: Maintain BBB+ rating 24

25 APPENDIX

26 2015 INCOME STATEMENT (in m) Variation at current exch. rates Net sales 74,706 76, % Net sales, net of loyalty 74,097 76, % Other revenues 2,221 2, % Total revenues 76,318 78, % Cost of goods sold -59,270-60,838 Gross margin 17,049 18, % SG&A -13,281-14,105 Recurring Operating Income before D&A (EBITDA) (1) 3,803 3, % Depreciation & Amortization -1, Recurring Operating Income (ROI) 2,387 2, % Recurring Operating income(roi) including associates and joint ventures 2,423 2,489 Non-recurring expenses EBIT 2,572 2,232 Net financial expenses Income tax Minority share of net income from continuing operations Net Income from continuing operations, Group share 1, Net Income from discontinued operations, Group share 67 4 Net Income, Group share 1, Adjusted net income, Group share 1,040 1,113 (1) Recurring operating income before depreciation and amortization (including supply chain depreciation) 26

27 RECURRING OPERATING INCOME m 2014 Restated 2015 Variation at current exch. rates Variation proforma 1 France 1,271 1, % +1.8% Other European countries % +34.2% Europe 1,697 1, % +9.9% Latin America % +23.5% Asia % -87.6% Emerging countries % +9.2% Global functions Recurring Operating Income 2,387 2, % +11.5% (1) Adjusted for the integration of DIA, the increase in the tax on retail sales areas and the transfer to Carmila of rental income from shopping malls 27

28 ADJUSTED NET INCOME, GROUP SHARE m Variation Net Income from continuing operations, Group share 1, % Restatement for non recurring income and expenses (before tax) Restatement for exceptional items in net financial expenses 3 65 Tax impact (1) Restatement on share of income from minorities and companies consolidated by the equity method Adjusted Net Income, Group share 1,040 1, % (1) Tax impact of restated items (non recurring income and expenses and financial expenses) and non recurring tax items 28

29 EARNINGS PER SHARE per share Net income from continuing operations Net income from discontinued operations Net Income, Group share Adjusted Net Income, Group share Weighted average number of shares pre-dilution (in millions) (1) (1) There was no dilutive impact in 2014 or

30 STORES UNDER BANNERS (INCL. FRANCHISEES AND PARTNERS) AT END 2015 Hypermarkets Supermarkets Convenience Cash & Carry TOTAL France 242 1,003 4, ,650 Spain Belgium Italy ,101 Poland Romania Other ,490 Other Europe 489 2,096 2, ,067 Argentina Brazil Latin America China Taiwan Other Asia Other (1) TOTAL 1,481 3,462 7, ,296 (1) Maghreb, Middle East and Dominican Republic 30

31 DISCLAIMER This presentation contains both historical and forward-looking statements. These forward-looking statements are based on Carrefour management's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performances may differ materially from those in such forward-looking statements as a result of a number of risks and uncertainties, including but not limited to the risks described in the documents filed with the Autorité des Marchés Financiers as part of the regulated information disclosure requirements and available on Carrefour's website (www.carrefour.com), and in particular the Annual Report (Document de Référence). These documents are also available in the English language on the company's website. Investors may obtain a copy of these documents from Carrefour free of charge. Carrefour does not assume any obligation to update or revise any of these forward-looking statements in the future.

FURTHER PROFIT GROWTH IN FIRST-HALF 2015

FURTHER PROFIT GROWTH IN FIRST-HALF 2015 FURTHER PROFIT GROWTH IN FIRST-HALF 2015 Net sales of 37.7bn, up +5.2% (+2.9% on an organic basis) Growth in Recurring Operating Income: 726m, +2.6% at constant rates Strong growth in adjusted net income,

More information

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability

Europe: Growth of +7.8% in Recurring Operating Income France: New half of improved profitability 2014 FIRST HALF RESULTS: CONTINUED GROWTH Organic sales growth of 4.3% Increase in Recurring Operating Income of +13.8% Strong increase in adjusted net income, Group share of +16.7% Strong profit growth

More information

Total Q2 Sales: Solid organic sales growth, up +2.6% ex petrol and calendar

Total Q2 Sales: Solid organic sales growth, up +2.6% ex petrol and calendar Total Q2 Sales: Solid sales growth, up +2.6% and calendar consolidated sales: 21.4bn, up +2.6% on an basis and In Q2, Carrefour s sales were impacted by an unfavorable 1.2% petrol impact and a -0.3% calendar

More information

Total Q3 Sales: Excellent sales momentum, up +4.2% ex petrol and calendar

Total Q3 Sales: Excellent sales momentum, up +4.2% ex petrol and calendar Total Q3 Sales: Excellent sales momentum, up +4.2% and calendar consolidated sales: 21.5bn, up +4.2% on an basis and In Q3, Carrefour s sales were impacted by an unfavorable 1.9% petrol impact and a -2.3%

More information

Investor Presentation 8 February 2016

Investor Presentation 8 February 2016 Investor Presentation 8 February 2016 SOLID BUSINESS DYNAMICS IN FRANCE AND RESILIENT INTERNATIONAL OPERATIONS STRONG LIQUIDITY AND ONGOING DELEVERAGING CONCLUSION APPENDICES SOLID BUSINESS DYNAMICS IN

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

Half year results 2011

Half year results 2011 Half year results 2011 29 July 2011 Bert De Graeve, Chief Executive Officer Bruno Humblet, Chief Financial Officer Address by Bert De Graeve, Chief Executive Officer Introductory remark The consolidated

More information

Financial Results. siemens.com

Financial Results. siemens.com s Financial Results Fourth Quarter and Fiscal 2015 siemens.com Key figures (in millions of, except where otherwise stated) Volume Q4 % Change Fiscal Year % Change FY 2015 FY 2014 Actual Comp. 1 2015 2014

More information

Q2 / H1 2015 results. Investor Presentation 30 July 2015

Q2 / H1 2015 results. Investor Presentation 30 July 2015 Q2 / H1 2015 results Investor Presentation 30 July 2015 Information Full year consolidated financial statements at 31 December are audited Half year financial statements are subject to limited review by

More information

Press release Regulated information

Press release Regulated information Press release Regulated information 26 February 2010 Annual results 2009 Press Katelijn Bohez T +32 56 23 05 71 Investor Relations Jacques Anckaert T +32 56 23 05 72 www.bekaert.com www.bekaert.mobi Bekaert

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE O-I REPORTS FULL YEAR AND FOURTH QUARTER 2014 RESULTS O-I generates second highest free cash flow in the Company s history PERRYSBURG, Ohio (February 2, 2015) Owens-Illinois, Inc.

More information

PRESS RELEASE. Indesit Company s Board of Directors examines the results for 2 nd quarter 2012 and approves the 1 st half management report

PRESS RELEASE. Indesit Company s Board of Directors examines the results for 2 nd quarter 2012 and approves the 1 st half management report PRESS RELEASE Indesit Company s Board of Directors examines the results for 2 nd quarter and approves the 1 st half management report Growth in 2 nd quarter revenues and market share. Operating margin

More information

July 30 th, 2015 2015 HALF-YEAR RESULTS

July 30 th, 2015 2015 HALF-YEAR RESULTS Disclaimer Confidential IMPORTANT NOTICE: By attending the meeting where this presentation is given, or by reading the presentation slides, you agree to be bound by the following limitations and qualifications:

More information

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014

GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 GrandVision reports 2.8 billion Revenue and 449 million EBITDA for 2014 Schiphol, the Netherlands 18 March 2015. GrandVision N.V. publishes Full Year and Quarter 2014 results. 2014 Highlights Revenue grew

More information

FULL-YEAR RESULTS. 18 February 2014

FULL-YEAR RESULTS. 18 February 2014 FULL-YEAR RESULTS 2013 KEY FIGURES (CONTINUING OPERATIONS) 2013 Change vs. 2012 Consolidated net sales 48,645m +15.9% EBITDA 3,337m +17% EBITDA margin 6.9% +6bp Trading profit 2,363m +18.1% Trading margin

More information

2014 HALF YEAR RESULTS 4 September 2014

2014 HALF YEAR RESULTS 4 September 2014 862m H1 2014 Revenues 2014 HALF YEAR RESULTS 4 September 2014 57% of Revenues for International in H1 2014 21,657 Employees In H1 2014 Disclaimer This presentation contains forward-looking statements (as

More information

Results Presentation Jan-Sep 2014. November 25 th, 2014

Results Presentation Jan-Sep 2014. November 25 th, 2014 Results Presentation Jan-Sep 2014 November 25 th, 2014 Disclaimer This document has been prepared by Grupo Isolux Corsán, S.A.; therefore no part of it may be published, disclosed or distributed in any

More information

FOOT LOCKER, INC. REPORTS THIRD QUARTER RESULTS

FOOT LOCKER, INC. REPORTS THIRD QUARTER RESULTS N E W S R E L E A S E FOOT LOCKER, INC. REPORTS THIRD QUARTER RESULTS Contact: Peter D. Brown Senior Vice President, Chief Information Officer and Investor Relations Foot Locker, Inc. (22) 720-4254 Third

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

Q1 Trading Update, FY 2011

Q1 Trading Update, FY 2011 ARYZTA AG Q1 Trading Update, FY 2011 29 November 2010 Forward Looking Statement This document contains forward looking statements which reflect management s current views and estimates. The forward looking

More information

For personal use only GALE PACIFIC LIMITED

For personal use only GALE PACIFIC LIMITED GALE PACIFIC LIMITED RESULTS FOR YEAR ENDED 30 JUNE 2013 FY13 Review FY13 FY12 FY11 A$M S A$M S % Variance A$M S Sales 120.0 110.5 9% 95.6 EBITDA 18.0 18.0 0% 15.8 EBIT 12.9 12.5 4% 9.9 NPAT 9.1 8.5 7%

More information

FY2010 Results Presentation. 23 March 2011

FY2010 Results Presentation. 23 March 2011 FY2010 Results Presentation 23 March 2011 Disclaimer This document is of a purely informative nature and does not constitute an offer to sell, exchange or buy, or the solicitation of an offer to buy, securities

More information

Jerónimo Martins, SGPS, S.A. 2012 Full Year Results

Jerónimo Martins, SGPS, S.A. 2012 Full Year Results Jerónimo Martins, SGPS, S.A. 2012 Full Year Results Lisbon, 27 February 2013 In a difficult macroeconomic environment, Jerónimo Martins has strengthened its competitiveness in all markets Consolidated

More information

WE ARE. SHOWROOMPRIVE.com FY2015 RESULTS February, 16 th 2016

WE ARE. SHOWROOMPRIVE.com FY2015 RESULTS February, 16 th 2016 WE ARE SHOWROOMPRIVE.com FY2015 RESULTS February, 16 th 2016 I BUSINESS UPDATE AND 2015 RESULTS HIGHLIGHTS 2015: A YEAR FULL OF ACHIEVEMENTS A STRONG AND PROFITABLE GROWTH 443m net sales and 24m EBITDA

More information

Converting vision into value

Converting vision into value Converting vision into value June 10-11 2015 Karim Hajjar Chief Financial Officer Member of the Executive Committee Agenda Update on 2016 targets Cash conversion Returns 2 2016 targets confirmed Divestments,

More information

Full-year results 2014. December 02, 2014

Full-year results 2014. December 02, 2014 Full-year results 2014 December 02, 2014 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

2014 Half-Year Results

2014 Half-Year Results 2014 Half-Year Results July 30, 2014 Amsterdam Nancy McKinstry Chief Executive Officer and Chairman Kevin Entricken Chief Financial Officer Forward-looking Statements This presentation contains forward-looking

More information

Pascal Quiry July 2010

Pascal Quiry July 2010 Please send any questions on this case study to the author via the mail box on the web site www.vernimmen.net Pascal Quiry July 2010 This document may not be used, reproduced or sold without the authorisation

More information

PRESS RELEASE. Board of Directors approves results as of December 31 2014

PRESS RELEASE. Board of Directors approves results as of December 31 2014 PRESS RELEASE Board of Directors approves results as of December 31 2014 SOGEFI (CIR GROUP): REVENUES AT OVER 1.3 BLN (+1.1%; +4.7% AT SAME EXCHANGE RATES), NET INCOME AT 3.6 MLN MARGINS LOWER BECAUSE

More information

Orange financial results

Orange financial results 2016 Orange financial results Ramon Fernandez Deputy CEO, Chief Financial and Strategy Officer 26 April 2016 disclaimer This presentation contains forward-looking statements about Orange. Although we believe

More information

Consolidated financial statements

Consolidated financial statements Consolidated financial statements Year ended December 31, 2009 (in blank) Consolidated Financial Statements 2 CONSOLIDATED INCOME STATEMENT... 6 STATEMENT OF COMPREHENSIVE INCOME... 7 CONSOLIDATED STATEMENT

More information

Investor presentation. Antoine Giscard D Estaing, Group CFO

Investor presentation. Antoine Giscard D Estaing, Group CFO Investor presentation Antoine Giscard D Estaing, Group CFO Review of activities Ongoing deleveraging Simplification of Group structure Perspectives Appendices Review of activities France Ongoing deleveraging

More information

Q1 2016 Results Conference Call

Q1 2016 Results Conference Call Q1 2016 Results Conference Call Karim Bohn, CFO 10 May 2016 PATRIZIA Immobilien AG PATRIZIA Bürohaus Fuggerstrasse 26 86150 Augsburg T +49 821 50910-000 F +49 821 50910-999 immobilien@patrizia.ag www.patrizia.ag

More information

Third quarter results as of December 31, 2014. Investor presentation

Third quarter results as of December 31, 2014. Investor presentation Third quarter results as of December 31, 2014 Investor presentation February, 26 th 2015 Disclaimer Certain statements included or incorporated by reference within this presentation may constitute forwardlooking

More information

Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy

Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy Press release February 18, 2015 Record results in 2014 reflecting strong momentum in key markets and the pertinence of the Group's new strategy Growth in revenue: up 3.8% like-for-like 1 to 5,454 million

More information

condensed consolidated interim financial statements 2015

condensed consolidated interim financial statements 2015 January march 2015 condensed consolidated interim financial statements 2015 (unaudited) contents 1. Income Statement 1 2. Statement of Comprehensive Income 2 3. Balance Sheet 3 4. Statement of Changes

More information

2014 INTERIM REPORT GEARED FOR GROWTH BE A PART OF IT.

2014 INTERIM REPORT GEARED FOR GROWTH BE A PART OF IT. 2014 INTERIM REPORT Q3 GEARED FOR GROWTH BE A PART OF IT. Interim Management s Discussion and Analysis as at September 30, 2014 Quarterly highlights 1 Preliminary comments to the Management s Discussion

More information

Consolidated sales of 6,347 million euros, up 10% on a like-for-like basis (7% as reported)

Consolidated sales of 6,347 million euros, up 10% on a like-for-like basis (7% as reported) 14.18 Order intake surged 25% to 9.1 billion euros Sales came in at 6.3 billion euros, up 10% like for like (7% as reported) Operating margin (1) up 15% to 442 million euros, or 7.0% of sales Net income

More information

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer

FY RESULTS 27 FEBRUARY 2015. Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer 1 FY RESULTS 27 FEBRUARY 2015 Tom Enders I Chief Executive Officer Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words

More information

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014

Group Financial Outlook and Strategy. Mark Langer, CFO Paris, November 19, 2014 Investor Day 2014 Group Financial Outlook and Strategy Mark Langer, CFO Paris, November 19, 2014 HUGO BOSS 19-Nov-14 2 Agenda Review of past financial performance Current trading update Financial implications

More information

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015

Company Presentation VTG AG Connecting worlds. Analyst Conference April 14, 2015 Company Presentation VTG AG Connecting worlds Analyst Conference April 14, 2015 Table of content 1 Highlights 2014 2 Performance & Financials 2014 3 Update on Strategy 4 Outlook 2015 5 Appendix 1 Executive

More information

H1 2015 RESULTS. July 30, 2015

H1 2015 RESULTS. July 30, 2015 H1 2015 RESULTS July 30, 2015 Sébastien Bazin CHAIRMAN AND CEO ACCORHOTELS H1 2015 Results 07/30/2015 2 Staying the course in a changing environment Solid H1 2015 results reflecting transformation Strong

More information

Adecco returns to growth in October

Adecco returns to growth in October Adecco returns to growth in October Improving revenue trends and strong profitability in Q3 2013 Q3 2013 HIGHLIGHTS Revenues flat in constant currency Gross margin of 18.7%, up 80 bps SG&A down 2% in constant

More information

Full Year 2015 Results

Full Year 2015 Results Full Year 2015 Results 16 March 2016 Conference call on FY 2015 results Corporate Finance & Investor Relations AGENDA FY 2015 results presentation Highlights 2015 Financials 2015 Outlook 2016 Appendix

More information

2015 annual results. 16 th March 2016

2015 annual results. 16 th March 2016 2015 annual results 16 th March 2016 Legal disclaimer Certain statements in this document are forward-looking statements. These forward-looking statements speak only as at the date of this document. These

More information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information

NN Group N.V. 30 June 2015 Condensed consolidated interim financial information Interim financial information 5 August NN Group N.V. Condensed consolidated interim financial information Condensed consolidated interim financial information contents Condensed consolidated interim

More information

Second Quarter 2007 Results. July 31, 2007

Second Quarter 2007 Results. July 31, 2007 Second Quarter 2007 Results July 31, 2007 Safe Harbor For Forward Looking Statements Except for historical information, all other information in this presentation consists of forward-looking statements

More information

February 27 th, 2014 2013 FULL YEAR RESULTS

February 27 th, 2014 2013 FULL YEAR RESULTS Disclaimer Confidential IMPORTANT NOTICE: By attending the meeting where this presentation is given, or by reading the presentation slides, you agree to be bound by the following limitations and qualifications:

More information

Third quarter results FY2015. August 17, 2015

Third quarter results FY2015. August 17, 2015 Third quarter results FY2015 August 17, 2015 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer

Q1 RESULTS 2015 30 APRIL 2015. Harald Wilhelm I Chief Financial Officer 1 Q1 RESULTS 2015 30 APRIL 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

Klöckner & Co SE. Q3 2014 Results

Klöckner & Co SE. Q3 2014 Results Klöckner & Co SE A Leading Multi Metal Distributor Gisbert Rühl CEO Marcus A. Ketter CFO Results Analysts and Investors Conference November 6, Disclaimer This presentation contains forward-looking statements

More information

HIGHLIGHTS FIRST QUARTER 2016

HIGHLIGHTS FIRST QUARTER 2016 Q1-16 EUROPRIS ASA 2 CONTENTS / HIGHLIGHTS FIRST QUARTER 2016 HIGHLIGHTS FIRST QUARTER 2016 (Figures for the corresponding period of last year in brackets. The figures are unaudited.) Group revenues increased

More information

Bertelsmann Annual Results 2010 Investor Conference Call

Bertelsmann Annual Results 2010 Investor Conference Call Bertelsmann Annual Results 2010 Investor Conference Call March 29, 2011 Dr. Thomas Rabe Member of the Executive Board and Chief Financial Officer Bertelsmann AG Summary and highlights Operating performance

More information

Q1 2015 RESULTS (UNAUDITED)

Q1 2015 RESULTS (UNAUDITED) Q1 2015 RESULTS (UNAUDITED) April 30, 2015 Consolidated financial statements as of March 31, 2015 were authorized for issue by the Board of Directors held on April 29, 2015 Q1 2015 highlights Sales of

More information

IMCD reports strong results for 2014

IMCD reports strong results for 2014 IMCD reports strong results for 2014 Rotterdam, The Netherlands 11 March 2015 - IMCD N.V. ( IMCD or Company ), a leading international speciality chemicals-focused distributor, today announces the 2014

More information

Operating cash flow (EBITDA) exceeded Euro 247 million, rising 27.5% on 2000;

Operating cash flow (EBITDA) exceeded Euro 247 million, rising 27.5% on 2000; 2001 ( NON AUDITED) HIGHLIGHTS Consolidated turnover reached Euro 4.2 billion, 7.3% growth from last year. Particularly remarkable was the like for like sales increase in Biedronka, more than 26%. Operating

More information

H1 2014 Earning Results JULY 30 TH, 2014

H1 2014 Earning Results JULY 30 TH, 2014 H1 2014 Earning Results JULY 30 TH, 2014 Disclaimer This document includes forward looking statements relating to Ingenico Group s future prospects, development and business strategies. By their nature,

More information

Financial Translation. Pierre Courduroux Senior Vice President and Chief Financial Officer

Financial Translation. Pierre Courduroux Senior Vice President and Chief Financial Officer Financial Translation Pierre Courduroux Senior Vice President and Chief Financial Officer Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements, such

More information

ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2014 RESULTS

ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2014 RESULTS Almere, The Netherlands March 4, 2015 ASM INTERNATIONAL N.V. REPORTS FOURTH QUARTER 2014 RESULTS ASM International N.V. (NASDAQ: ASMI and Euronext Amsterdam: ASM) reports today its fourth quarter 2014

More information

February 27 th, 2015 2014 FULL YEAR RESULTS

February 27 th, 2015 2014 FULL YEAR RESULTS Disclaimer Confidential IMPORTANT NOTICE: By attending the meeting where this presentation is given, or by reading the presentation slides, you agree to be bound by the following limitations and qualifications:

More information

1Q 2014 Results. May 8, 2014

1Q 2014 Results. May 8, 2014 1Q 2014 Results May 8, 2014 Opening remarks Italian and Iberian operations EBITDA up by 7%, despite weak demand and negative regulatory framework in Spain Strong increase in demand in Latam, up by ca.

More information

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014

Eutelsat Communications Full Year 2013-2014 Results. July 31, 2014 Eutelsat Communications Full Year 2013-2014 Results July 31, 2014 1 Agenda FY 2013-2014 highlights Operational performance Financial overview Outlook -2- FY 2013-2014: Key Figures Revenue Revenues of 1,348

More information

Q3 2013 results November 7, 2013

Q3 2013 results November 7, 2013 Q3 2013 results Q3 2013 results November 7, 2013 Forward looking statements This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws that are subject

More information

DEVOTEAM reports 2011 financials: 7% increase in revenues and 6% growth of diluted earnings per share

DEVOTEAM reports 2011 financials: 7% increase in revenues and 6% growth of diluted earnings per share DEVOTEAM reports 2011 financials: 7% increase in revenues and 6% growth of diluted earnings per share Paris, February 29 th, 2012 In millions of euros (1) 31.12.2011 31.12.2010 change Revenues 528.1 495.0

More information

Shifting Gears Driving Growth 2016 FIRST QUARTER INTERIM REPORT

Shifting Gears Driving Growth 2016 FIRST QUARTER INTERIM REPORT Shifting Gears Driving Growth 2016 FIRST QUARTER INTERIM REPORT MANAGEMENT S DISCUSSION AND ANALYSIS March 31, 2016 Quarterly highlights 3 Preliminary comments to Management s discussion and analysis 4

More information

Zebra Technologies Announces Record Sales for Second Quarter of 2006

Zebra Technologies Announces Record Sales for Second Quarter of 2006 FOR IMMEDIATE RELEASE Zebra Technologies Announces Record Sales for Second Quarter of 2006 Vernon Hills, IL, July 26, 2006 Zebra Technologies Corporation (NASDAQ: ZBRA) today announced that net income

More information

CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2014

CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2014 WELCOME DÜRR AKTIENGESELLSCHAFT CONFERENCE CALL PRELIMINARY FIGURES FISCAL YEAR 2014 Ralf W. Dieter, CEO Ralph Heuwing, CFO Bietigheim-Bissingen, March 9, 2015 www.durr.com DISCLAIMER This presentation

More information

This presentation contains forward-looking statements (made pursuant to the safe harbour provisions of the Private

This presentation contains forward-looking statements (made pursuant to the safe harbour provisions of the Private Safe Harbour Statement This presentation contains forward-looking statements (made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995). By their nature, forward-looking

More information

Staples, Inc. Announces First Quarter 2016 Performance

Staples, Inc. Announces First Quarter 2016 Performance Media Contact: Mark Cautela 508-253-3832 Investor Contact: Chris Powers/Scott Tilghman 508-253-4632/1487 Staples, Inc. Announces First Quarter 2016 Performance FRAMINGHAM, Mass., May 18, 2016 Staples,

More information

Full year and fourth quarter 2014 results 1

Full year and fourth quarter 2014 results 1 Full year and fourth quarter results 1 Luxembourg, February 12, 2015 Highlights Health and Safety frequency rate 2 of 1.1x in compared to 1.3x in 2013. Shipments of 1,813 thousand tonnes in full year,

More information

Disclaimer. This document has been prepared by Tele Columbus AG (the "Company") solely for informational purposes.

Disclaimer. This document has been prepared by Tele Columbus AG (the Company) solely for informational purposes. Disclaimer This document has been prepared by Tele Columbus AG (the "Company") solely for informational purposes. This presentation may contain forward-looking statements. These statements are based on

More information

ACER INCORPORATED AND SUBSIDIARIES. Consolidated Balance Sheets

ACER INCORPORATED AND SUBSIDIARIES. Consolidated Balance Sheets Consolidated Balance Sheets June 30, 2015, December 31, 2014, and (June 30, 2015 and 2014 are reviewed, not audited) Assets 2015.6.30 2014.12.31 2014.6.30 Current assets: Cash and cash equivalents $ 36,400,657

More information

Preliminary results FY2015. November 27, 2015

Preliminary results FY2015. November 27, 2015 Preliminary results FY2015 November 27, 2015 Disclaimer Stabilus S.A. (the Company, later Stabilus ) has prepared this presentation solely for your information. It should not be treated as giving investment

More information

Verifone Reports Results for the Second Quarter of Fiscal 2016

Verifone Reports Results for the Second Quarter of Fiscal 2016 Verifone Reports Results for the Second Quarter of Fiscal 2016 SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results

More information

INSIDE Secure First half of 2015 results

INSIDE Secure First half of 2015 results INSIDE Secure First half of results Q2 revenue of $18.6 million is up 14% compared with low point reached in Q1 leading to a total of $35.0 million in H1 Adjusted gross margin 1 of $16.4 million (47.0%

More information

1Q16 Earnings Release. April 28 th 2016 LG Electronics

1Q16 Earnings Release. April 28 th 2016 LG Electronics 1Q16 Earnings Release April 28 th 2016 LG Electronics All information regarding management performance and financial results of LG Electronics (the Company ) during the 1 st quarter of 2016 as contained

More information

4Q and FYE 2014 Results Conference Call

4Q and FYE 2014 Results Conference Call A global environmental technology company focused on air pollution control, energy, fluid handling and filtration industries 4Q and FYE 2014 Results Conference Call March 5, 2015 1 Safe Harbor Statement

More information

Full Year Results 2012. Conference Call Presentation, 21 st March 2013

Full Year Results 2012. Conference Call Presentation, 21 st March 2013 Full Year Results 2012 Conference Call Presentation, 21 st March 2013 0 Disclaimer This presentation may contain forward-looking statements based on current assumptionsandforecastsmadebybrenntag AG and

More information

BlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal 2016

BlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal 2016 April 1, FOR IMMEDIATE RELEASE BlackBerry Reports Software and Services Growth of 106 Percent for Q4 and 113 Percent for Fiscal Company reports positive free cash flow for eighth consecutive quarter and

More information

Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated

Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated Ontex Q3 2015: Trading in line with Company expectations and full year outlook reiterated Aalst-Erembodegem, November 5, 2015 - Ontex Group NV (Euronext Brussels: ONTEX; Ontex, the Group or the Company

More information

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 News Release GRAINGER REPORTS RESULTS FOR THE 2015 FIRST QUARTER Revises 2015 Guidance Quarterly Summary Sales of $2.4 billion, up 2 percent Operating

More information

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results

Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results January 30, 2014 Prologis Announces Fourth Quarter and Full Year 2013 Earnings Results - Leased record 43.7 million square feet in Q4 and 152 million square feet in 2013 - - Occupancy increased to 95.1

More information

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015

Drägerwerk AG & Co. KGaA Analyst Conference 2015. Frankfurt, March 11, 2015 Drägerwerk AG & Co. KGaA Analyst Conference 2015 Frankfurt, March 11, 2015 Disclaimer This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any

More information

First quarter 2015 results 1

First quarter 2015 results 1 First quarter results 1 Luxembourg, May 5, Highlights Health and Safety frequency rate 2 of 1.3x in Q1 compared to 1.8x in Q4. Shipments of 469 thousand tonnes in Q1 compared to shipments of 439 thousand

More information

Conference Call Preliminary Full-Year Results 2014

Conference Call Preliminary Full-Year Results 2014 Conference Call Preliminary Full-Year Results 2014 Joachim Kreuzburg, CEO January 27, 2015 Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group and

More information

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London Health Care Worldwide Citi - European Credit Conference September 24, 2015 - London Safe Harbor Statement This presentation contains forward-looking statements that are subject to various risks and uncertainties.

More information

HOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS:

HOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS: HOPKINTON, Mass., April 24, 2013 - HIGHLIGHTS: Record first-quarter revenue, non-gaap net income, non-gaap EPS, operating cash flow and free cash flow Year-over-year revenue growth across U.S. and major

More information

First Half 2015 Results (January-June) Madrid, July 24 th 2015

First Half 2015 Results (January-June) Madrid, July 24 th 2015 First Half 2015 Results (January-June) Madrid, July 24 th 2015 Table of Contents 1. 1H 2015 Highlights 2. Backlog Execution 3. Update on Tulpar Transaction 4. Commercial Activity 5. Profit & Loss 6. Cash

More information

Sales increased 15 percent to $4.5 billion Earnings per Share increased 37 percent to $0.96 Operating Cash Flow increased 22 percent to $319 million

Sales increased 15 percent to $4.5 billion Earnings per Share increased 37 percent to $0.96 Operating Cash Flow increased 22 percent to $319 million Contact: Mark Polzin (314) 982-1758 John Hastings (314) 982-8622 EMERSON REPORTS RECORD FIRST-QUARTER 2006 RESULTS Sales increased 15 percent to $4.5 billion Earnings per Share increased 37 percent to

More information

PRESS RELEASE Paris, February 11, 2016

PRESS RELEASE Paris, February 11, 2016 PRESS RELEASE Paris, February 11, 2016 FULL-YEAR 2015 RESULTS 2015 PERFORMANCE IN LINE WITH GUIDANCE PROPOSED DIVIDEND OF 0.40 PER SHARE PAYABLE IN CASH 2015 PERFORMANCE IN LINE WITH TARGETS Sales of 13.5bn,

More information

Sales growth of 8.7% and solid financial performance in 2014

Sales growth of 8.7% and solid financial performance in 2014 Sales growth of 8.7% and solid financial performance in 2014 Paris, 18 February 2015 Saft, leader in the design, development and manufacture of advanced batteries for industry, announces its fourth quarter

More information

FORACO INTERNATIONAL REPORTS Q3 2014

FORACO INTERNATIONAL REPORTS Q3 2014 NEWS RELEASE FORACO INTERNATIONAL REPORTS Q3 2014 Toronto, Ontario / Marseille, France Tuesday, November 4, 2014 Foraco International SA (TSX:FAR) (the Company or Foraco ), a leading global provider of

More information

CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2003

CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2003 JCDECAUX SA CONSOLIDATED FINANCIAL STATEMENTS AS AT JUNE 30, 2003 Translated from French and in accordance with French generally accepted accounting principles JCDECAUX SA CONSOLIDATED FINANCIAL STATEMENTS

More information

FINANCIAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013

FINANCIAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013 FINANCIAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013 Financial Highlights... 2 Significant events of the year... 3 Business Report... 5 Comments on the consolidated

More information

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011

QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER 2011 QUARTERLY FINANCIAL STATEMENTS AS AT 30 SEPTEMBER Media telephone conference 8 November Agenda Overview Financial highlights Jörg Schneider 2 Munich Re (Group) Jörg Schneider 4 Torsten Oletzky 13 Torsten

More information

For the year ended: 31 Mar 31 Mar (million ) 2011 2012 Change Net sales. 772.3 913.4 +18.3% Gross profit 637.0 755.5 +18.6%

For the year ended: 31 Mar 31 Mar (million ) 2011 2012 Change Net sales. 772.3 913.4 +18.3% Gross profit 637.0 755.5 +18.6% Results highlights For the year ended: 31 Mar 31 Mar (million ) 2011 2012 Change Net sales 772.3 913.4 +18.3% Gross profit 637.0 755.5 +18.6% % of Net sales 82.5% 82.7% +0.2 pp Operating profit 132.1 152.3

More information

ITW Conference Call Third Quarter 2013

ITW Conference Call Third Quarter 2013 ITW Conference Call Third Quarter 2013 October 22, 2013 SOLID GROWTH. STRONG RETURNS. BEST-IN-CLASS OPERATOR. Forward-Looking Statements Safe Harbor Statement This conference call contains forward-looking

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

FINANCIAL INFORMA TION INFORMA AS OF MARCH 31, 2015

FINANCIAL INFORMA TION INFORMA AS OF MARCH 31, 2015 FINANCIAL INFORMATION AS OF MARCH 31, 2015 KEY MESSAGES Q1 2015 figures in line with full year expected trajectory given timing impact of a number of drivers Doel 3/Tihange 2 outages in Q1 2015 while they

More information

GAP INC. REPORTS THIRD QUARTER RESULTS

GAP INC. REPORTS THIRD QUARTER RESULTS GAP INC. REPORTS THIRD QUARTER RESULTS SAN FRANCISCO November 19, 2015 Gap Inc. (NYSE: GPS) today reported results for the third quarter of fiscal year 2015 and updated its full-year fiscal 2015 outlook.

More information