HUNTER DOUGLAS RESULTS Q1 2013
HUNTER DOUGLAS RESULTS Q1 2013
HUNTER DOUGLAS RESULTS Q1 2013
Rotterdam, May 14, 2013 – Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for Q1 2013:
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Sales: 2.2% lower to USD 580.9 million compared with USD 594.1 million in Q1 2012.
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Earnings before interest, tax, depreciation and amortization – EBITDA:
USD 34.5 million, compared with USD 35.2 million in Q1 2012.
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Income from Operations:
USD 12.1 million compared with USD 11.3 million in Q1 2012. Results were better in North America, Asia and Australia and lower in Europe and Latin America.
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Net Result Investment Portfolio: USD 1.1 million compared with USD 12.1 million in Q1 2012.
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Total Net Result: USD 10.4 million (per share EUR 0.23), compared with USD 21.5 million in Q1 2012 (per share EUR 0.46).
Sales: The 2.2% sales decrease reflects a 2.4% volume decrease, a 1.0% increase from acquisitions and a 0.8% negative currency impact. Volume increased in North and Latin America and Asia, and was lower in Europe and Australia.
North America accounted for 41% of sales, Europe 38%, Latin America 10%, Asia 7% and Australia 4%. Window Coverings were 82% and Architectural and Other Products were 18% of sales.
Operating cash flow: USD 54.6 million negative compared with USD 20.6 million negative in Q1 2012.
Outlook
Hunter Douglas expects improving economic conditions in the US, Latin America and Asia, but an ongoing challenging environment in Europe, until consumer confidence and housing markets recover.
Hunter Douglas remains 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 169 companies with 68 manufacturing and 101 assembly operations in more than 100 countries. Hunter Douglas employs about 16,500 people, and had sales in 2012 of USD 2.529 billion.
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 Q1 2013 (Annex 1), Balance Sheet per March 31, 2013 (Annex 2), Cash Flow Statement for Q 1 2013 (Annex 3) and Sales change attribution percentages by geographic region for Q1 2013 (Annex 4) are attached.
