Agta Record : 2016 turnover targets reached at constant forex rates

Consolidated sales (1 January – 31 December) - unaudited

In 2016, the group grew turnover by 8.6 % to EUR 352.5 million. Had foreign exchange rates been constant, growth would have been even higher at 10.5 %.

The weakness of the Britisch Pound suppressed turnover by EUR 5.1 million in the second half of 2016. The reorganisation of the production sites in France resulted in invoicing delays while turnover growth was additionally held back by the postponement of the finalisation of a large project in the United States which will be invoiced in 2017.

Maintenance and service turnover increased strongly by 10.2 % and is accounting for 40.4 % of total turnover.

The profitability of 2016 is expected to be impacted not only by the weakness of the British Pound, but also by the one-off cost related to the restructuring in France and a EUR 1.0 million provision (thereof EUR 0.6 million booked already in the first half of 2016) mostly related to the integration cost of High Performance Door Solutions acquired in April 2016.

Next media release: 2016 full results on 5 April 2017 (after market closing).