2014 NINE-MONTH REVENUES: EUR 109 MILLION (AcT)
Continuation of the medium-term development plan
Paris, November 5, 2014. SergeFerrari Group (FR0011950682) creates, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
Consolidated revenues (unaudited)
| (€'000) | Q3 2014 | Q3 2013 | Var Q3 | September 30, 2014 (9 months) |
September 30, 2013 (9 months) |
Var at September 30 (9 months) |
| Southern Europe (SEUR) | 10,486 | 10,341 | 1.4% | 38,504 | 36,913 | 4.3% |
| Wide Europe (WEUR) | 12,511 | 13,888 | -9.9% | 39,709 | 40,888 | -2.9% |
| Rest of World (ROW) | 8,325 | 7,062 | 17.9% | 24,948 | 24,937 | 0.0% |
| Total flexible composite materials | 31,322 | 31,291 | 0.1% | 103,161 | 102,738 | 0.4% |
| Other products | 1,829 | 2,209 | -17.2% | 5,832 | 6,013 | -3.0% |
| Total revenues | 33,151 | 33,500 | -1.0% | 108,993 | 108,751 | 0.2% |
Sales of flexible composite materials remained stable in the 3rd quarter of 2014 compared with 2013. However, regional sales trends showed higher variations depending on whether revenues from completed projects, particularly architecture and equipment projects, had occurred or not.
Accordingly, Wide Europe third quarter sales fell by 9.9%, as defense projects which occurred in 2013, did not take place again in 2014. Conversely, the Rest of World region benefited of projects awarded in 2014 which explain the 17.9% increase in sales for the period.
The volumes sold and the average selling price remained stable in the 3rd quarter of 2014 compared with 2013.
Revenues were virtually unchanged at €109 million over the first nine months of the year. Fluctuations in the EUR/USD exchange rate had a negative impact of 0.2% on consolidated revenue growth and of 1% on Rest of World revenue increase.
Outlook
The Serge Ferrari Group is continuing to deploy the resources required to achieve its sales target (the Group is aiming at achieving revenues of €215 million in 2018), by:
- strengthening the sales team, which included 126 people worldwide at September 30, 2014 compared with 107 people at December 31, 2013;
- rolling out its CRM solution;
- continuing to implement a dynamic “product” innovation policy, highlighted by the signing in September 2014 of a partnership agreement for the development of new materials, including government authorities and a regional competitive cluster .
Find all Company details at
| SERGE FERRARI CONTACT Philippe Brun Chief Financial Officer investor@sergeferrari.com |
INVESTOR/MEDIA CONTACT Amalia Naveira/Marie-Claude Triquet Actus Lyon Tel: 00 33 4 72 18 04 93 anaveira@actus.fr/mctriquet@actus.fr |
About Serge Ferrari
| Serge Ferrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €31 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. The Group's principal competitive advantage lies in its differentiating technology – Précontraint® - and its associated proprietary industrial know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari is present in 80 countries through four subsidiaries (in the US, Japan, Hong Kong, Brazil), 5 representative offices (in Spain, Turkey, China,
Singapore and Dubai) and a network of more than 100 distributors. At the end of 2013, Serge Ferrari posted consolidated revenue of €139.6 million of which 75% was achieved outside France, with 585 employees. The company SergeFerrari Group is listed on Euronext Paris – Compartiment C (ISIN code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment. SergeFerrari Group is listed on Euronext Paris - Compartment C |
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