HUNTER DOUGLAS RESULTS 2015

Rotterdam, March 9, 2016 – Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for 2015:

Sales: 5% lower to USD 2,552 billion, compared with USD 2.695 billion in 2014.
The 5% sales decrease reflects a 3% volume increase, 9% negative currency impact and 1% increase from acquisitions. Volume increased in North America, Europe and Australia and decreased in Asia and Latin America.
North America accounted for 47% of sales, Europe 36%, Latin America 7%, Asia 7% and Australia 3%. Window coverings were 83% and architectural and other products were 17% of sales.
Earnings before interest, tax, depreciation and amortization (before non-recurring restructuring expenses) EBITDA: USD 316.7 million, 12.2% higher than USD 282.3 million in 2014.
Income from Operations (before non-recurring restructuring expenses):22.3% higher to USD 236.5 million, compared withUSD 193.3 million in 2014. Results in local currencies were better in all areas, except in Latin America where they were lower.
Non-recurring restructuring expenses: USD 13.9 million, compared with USD 23.0 million in 2014. These expenses mainly relate to Asia, Europe and North America.
Net Result Investment Portfolio: USD 5.3 million negative (after deduction of imputed interest and expenses) compared with USD 1.6 million positive in 2014. The Portfolio’s return in U.S. dollars (before imputed interest and expenses) was 0.8% negative. The Portfolio had a fair value at December 31, 2015 of USD 202 million.
Profit before Tax: USD 206.3 million, 35.9% higher than USD 151.8 million in 2014.
Total Net Profit: USD 156.1 million (per share EUR 4.04), 24.9% higher than USD 125.0 million in 2014 (per share EUR 2.71).

Operating cash flow: USD 210 million, compared with USD 152 million in 2014.

Capital expenditures were USD 60 million, compared with USD 73 million in 2014, while depreciation was USD 74 million, compared with USD 82 million in 2014.

In 2016 capital expenditures will be about USD 55 million and depreciation USD 70 million.

Shareholders’ equity was USD 1,065 million, compared with USD 1,050 million at the end of 2014. The 2015 earnings were negatively offset by exchange translation and the payment of the dividend of EUR 1.35 per share, totalling USD 53 million.

Financing: All borrowings are covered by committed long term facilities.

Return before interest on Net Assets Employed – RONAE

(before non-recurring restructuring expenses): 17.1% compared with 13.1% in 2014.

Return on Equity: 14.8%, compared with 11.5% in 2014.

Employees: The company had approximately 16,000 employees at the end of 2015.

Dividend: The Board of Directors proposes a dividend for 2015 of EUR 1.50 per common share, compared with EUR 1.35 last year.

Q4 2015

Q4 Sales were USD 641 million, 6% lower than USD 682 million in the same period of 2014. This reflects a 1% volume increase, a 8% negative currency impact and 1% increase from acquisitions. Fourth quarter organic sales were higher in all areas, except North America where sales were lower.

Q4 Earnings before interest, tax, depreciation and amortization (before non-recurring restructuring expenses) – EBITDA:
USD 100.3 million, compared with USD 77.3 million in Q4 2014.

Q4 Income from Operations (before non-recurring restructuring expenses) was USD 80.6 million, compared with USD 52.6 million in Q4 2014. Results were better in all areas, except in Latin America where they were lower.

Q4 Non-recurring restructuring expenses: USD 13.9 million, compared with

USD 17.0 million last year. These expenses mainly relate to Asia, Europe and North America.

Q4 Net Result Investment Portfolio: USD 2.0 million (after deduction of imputed interest and expenses), compared with USD 1.6 million in Q4 2014.

Q4 Profit before Tax: USD 69.0 million, compared with USD 32.2 million in Q4 2014.

Q4 Total Net Profit: USD 47.8 million (per share EUR 1.26), compared with

USD 27.3 million in Q4 2014 (per share EUR 0.63).

Total year 2015 by Region

Europe
European operations had higher sales and profits.

European sales were USD 913 million, 11% lower than USD 1,022 million in the same period last year. This reflects a 1% volume increase, a 15% negative currency impact and 3% increase from acquisitions. In EUR, sales increased by 6% to EUR 821 million, compared with EUR 771 million in 2014.

North America
American operations had higher sales and profits.

Sales increased by 4% to USD 1,201 million, due to a 6% increase in volume offset by a 2% negative currency impact.

Latin America
Latin American operations had lower sales and operational profits in local currency.

Sales were USD 185 million, 23% lower than USD 239 million in the same period last year. This reflects a 1% volume decrease and a 22% negative currency impact.

Asia
Asian operations had lower sales but higher profits.

Sales were USD 170 million, 9% lower than USD 186 million in the same period last year, due to a 4% decrease in volume and a 5% negative currency impact.

Australia
Australian sales were USD 83 million, 11% lower compared with USD 93 million in the same period last year, reflecting a 5% volume increase offset by a 16% negative currency impact.

Organization: David and Marko Sonnenberg, who have been with the company for about 25 years and Co-Presidents & COOs since 2007, will be appointed as Co-Presidents and CEOs, assuming responsibility for the overall operation of the business. Ralph Sonnenberg will remain active as Executive Chairman.

Outlook

Hunter Douglas expects slow growth in the US, stable economic conditions in Europe and continued difficult conditions in Asia and Latin America.

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

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 126 companies with 50 manufacturing and 76 assembly operations in more than 100 countries. The common shares of Hunter Douglas N.V. are traded on Amsterdam’s Euronext and 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

A consolidated Statement of Income for the full year 2015 and Q4 2015 (Annex 1+2), Balance Sheet (Annex 3), Cash Flow Statement (Annex 4) and Sales change attribution percentages by geographic area for the full year 2015 and Q4 2015 (Annex 5) are attached.