HUNTER DOUGLAS RESULTS 2017

Rotterdam, March 7, 2018 – Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for 2017:

Sales: 14.4% higher to USD 3.226 billion, compared with USD 2.821 billion in 2016.

The 14.4% sales increase reflects a 2.7% volume increase, 0.7% positive currency impact and 11.0% increase from acquisitions. Volume increased in all areas except in Asia and Latin America where sales were lower.

North America accounted for 49% of sales, Europe 38%, Latin America 5%, Asia 5% and Australia 3%. Window coverings were 85% and architectural and other products were 15% of sales.

Earnings before interest, tax, depreciation and amortization - EBITDA: USD 391 million, 6.8% higher than USD 365 million in 2016.
Income from Operations (before non-recurring restructuring expenses): 3.3% higher to USD 289 million, compared with USD 279 million in 2016. Results in local currencies were better in Europe and North America and lower in the other areas.
Non-recurring restructuring expenses: USD 20 million, compared with USD 16 million in 2016. These relate mainly to the North American operations for the integration of Levolor and to the European operations for acquisition costs of Hillarys.
Profit before Tax: USD 260 million, compared with USD 255 million in 2016.
Total Net Profit: USD 219 million
(per share EUR 5.56), 6.3% higher than USD 206 million in 2016, before extraordinary tax gain of USD 65 million (per share EUR 5.36).

Operating cash flow: USD 181 million, compared with USD 197 million in 2016.

Capital expenditures were USD 130 million, compared with USD 84 million in 2016, while depreciation was USD 82 million, compared with USD 71 million in 2016.

In 2018 capital expenditures will be about USD 140 million and depreciation USD 90 million.

Shareholders’ equity was USD 1,384 million, compared with USD 1,246 million at the end of 2016. The 2017 equity was impacted by the payment of the dividend of EUR 1.75 per share, totalling USD 68 million.

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

Return before interest on Net Assets Employed – RONAE

(before non-recurring restructuring expenses): 13.7% compared with 18.4% in 2016.

Return on Equity: 16.6% compared with 17.6% in 2016.

Employees: The company had approximately 22,750 employees at the end of 2017.

Dividend: The Board of Directors proposes a dividend for 2017 of EUR 1.85 per common share, compared with EUR 1.75 for 2016.

Q4 2017

Q4 Sales were USD 879 million, 15.8% higher than USD 759 million in the same period of 2016. This reflects a 2.8% volume increase, a 3.1% positive currency impact and 9.9% increase from acquisitions. Fourth quarter organic sales were higher in Europe, North America and Latin America, level in Australia and lower in Asia.

Q4 Earnings before interest, tax, depreciation and amortization – EBITDA: USD 113 million, compared with USD 111 million in Q4 2016.

Q4 Income from Operations (before non-recurring restructuring expenses) was USD 87 million, compared with USD 83 million in Q4 2016. Results in local currencies were higher in Europe and North America and lower in the other areas.

Q4 Non-recurring restructuring expenses: USD 7 million, compared with

USD 11 million last year. These relate mainly to the North American operations for the integration of Levolor and to the European operations for acquisition costs of Hillarys.

Q4 Profit before Tax: USD 75 million, compared with USD 74 million in Q4 2016.

Q4 Total Net Profit: USD 73 million (per share EUR 1.82), compared with USD 63 million in Q4 2016, before extraordinary tax gain of USD 65 million (per share EUR 1.68).

Total year 2017 by Region

Europe

European operations had record sales and profits.

European sales were USD 1,214 million, 24% higher than USD 980 million in the same period last year. This reflects a 5% volume increase, a 1% positive currency impact and a 18% increase from acquisitions.

North America

North American operations had higher sales and profits.

Sales increased by 12% to USD 1,588 million. The sales increase reflects a 2% increase in volume and a 10% increase from acquisitions.

Latin America

Latin American operations had level sales and lower operational profits.

Sales were USD 162 million, level compared with last year. This reflects a 1% volume decrease and a 1% positive currency impact.

Asia

Asian operations had lower sales and profits.

Sales were USD 167 million, 4% lower than USD 174 million in the same period last year, due to a 3% decrease in volume and a 1% negative currency impact.

Australia

Australian operations had higher sales and lower profits.

Sales were USD 95 million, 10% higher than USD 86 million in the same period last year, due to a 1% increase in volume, a 3% positive currency impact and a 6% increase from acquisitions.

Outlook

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

Hunter Douglas is in a strong position in terms of its brands, 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 132 companies with 50 manufacturing and 82 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 2017 and Q4 2017 (Annex 1+2), Balance Sheet (Annex 3), Cash Flow Statement (Annex 4) and Sales change attribution percentages by geographic area for the full year 2017 and Q4 2017 (Annex 5) are attached.