Hunter Douglas Q1 Business Update
Hunter Douglas Q1 Business Update
Rotterdam, 3 April 2008 - Hunter Douglas is offering to purchase for cash upto 13.4 million common shares held by its minority shareholders through a Public Offer of EUR 43 per share. In this connection, the Company will hold an Information Meeting for Shareholders and Analysts at its office in Rotterdam today at 14:00 to provide an update on Sales for the first quarter and the performance of the Investment Portfolio in the first 2 months. These are summarized below. Complete Q1 results are expected to be available on May 13, 2008.
- Q1 Sales 8.3% higher to USD 723 million compared with USD 668 million in Q1 2007.
The 8.3% sales increase reflects a 4.3% volume decrease, a 5.2% contribution from acquisitions and a 7.4% positive currency impact. All geographic areas had organic growth expressed in local currency except Europe and North America
Europe accounted for 44% of sales, North America 39%, Latin America 7%, Asia 6% and Australia 4%. Window Coverings were 86% and Architectural and Other Products were 14% of sales.
. Europe: 12.3% higher to USD 320 million compared with USD 285 million in Q1 2007.
The sales increase reflects a 5.6% volume decrease, a 6.0% contribution from acquisitions and a 11.9% positive currency impact. In Euro, sales were EUR 212 million, level with Q1 2007.
. North America: sales were USD 281 million, level with Q1 2007
This reflects a 8.5% volume decrease, a 6.4% contribution from acquisitions and a 2.1% positive currency impact.
. Latin America: 20.0% higher to USD 48 million compared with USD 40 million in Q1 2007.
The sales increase reflects a 12.5% volume increase and a 7.5% positive currency impact.
. Asia: 16.7% higher to USD 42 million compared with USD 36 million in Q1 2007.
The sales increase reflects a 11.1% volume increase and a 5.6% positive currency impact.
- Investment Portfolio
The Portfolio's fair value per February 29, 2008 was USD 795 million and the first 2 months return before imputed interest and expenses was 3.1% negative.
- Outlook
Q1 sales confirmed the cautious outlook expressed in the 2007 Results Press Release of March 13th; considering the deteriorating market conditions in the US and slowing economic growth in many other markets.
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 169 companies with 67 manufacturing and 102 assembly operations in more than 100 countries. Hunter Douglas employs about 21,000 people.
The common shares of Hunter Douglas N.V. are traded on Amsterdam's Euronext and the Deutsche Boerse.
For further information:
Leen Reijtenbagh
Chief Financial Officer
Tel: +31 10 486 9582
E-Mail: l.reijtenbagh@hdnv.nl
Website: www.hunterdouglasgroup.com
- Q1 Sales 8.3% higher to USD 723 million compared with USD 668 million in Q1 2007.
The 8.3% sales increase reflects a 4.3% volume decrease, a 5.2% contribution from acquisitions and a 7.4% positive currency impact. All geographic areas had organic growth expressed in local currency except Europe and North America
Europe accounted for 44% of sales, North America 39%, Latin America 7%, Asia 6% and Australia 4%. Window Coverings were 86% and Architectural and Other Products were 14% of sales.
. Europe: 12.3% higher to USD 320 million compared with USD 285 million in Q1 2007.
The sales increase reflects a 5.6% volume decrease, a 6.0% contribution from acquisitions and a 11.9% positive currency impact. In Euro, sales were EUR 212 million, level with Q1 2007.
. North America: sales were USD 281 million, level with Q1 2007
This reflects a 8.5% volume decrease, a 6.4% contribution from acquisitions and a 2.1% positive currency impact.
. Latin America: 20.0% higher to USD 48 million compared with USD 40 million in Q1 2007.
The sales increase reflects a 12.5% volume increase and a 7.5% positive currency impact.
. Asia: 16.7% higher to USD 42 million compared with USD 36 million in Q1 2007.
The sales increase reflects a 11.1% volume increase and a 5.6% positive currency impact.
- Investment Portfolio
The Portfolio's fair value per February 29, 2008 was USD 795 million and the first 2 months return before imputed interest and expenses was 3.1% negative.
- Outlook
Q1 sales confirmed the cautious outlook expressed in the 2007 Results Press Release of March 13th; considering the deteriorating market conditions in the US and slowing economic growth in many other markets.
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 169 companies with 67 manufacturing and 102 assembly operations in more than 100 countries. Hunter Douglas employs about 21,000 people.
The common shares of Hunter Douglas N.V. are traded on Amsterdam's Euronext and the Deutsche Boerse.
For further information:
Leen Reijtenbagh
Chief Financial Officer
Tel: +31 10 486 9582
E-Mail: l.reijtenbagh@hdnv.nl
Website: www.hunterdouglasgroup.com
