The gross margin increased considerably, benefitting from reduced production costs in France, savings on sourced components and higher production volumes at agtatec.
Growth of personnel costs surpassed sales growth despite steady improvements in France. The higher personnel expenses are also partly due to the integration of HPDS in the U.K.
During the second half of 2017, restructuring costs should remain minimal in France and the U.K. while the focus of the integration of record UK and HPDS will switch to the achievement of synergies and efficiency gains. The pressure on the gross margin from the weakened British Pound should diminish in the second half of 2017.
The group confirms its expectation of sales growth of 4 - 5 % for the full year.
Group key figures (January - June)
In MEUR | 30.06.2017 | % | 30.06.2016 | % | Change |
Turnover | 175.5 | 100.0 | 166.6 | 100.0 | + 5.3 % |
Gross profit | 128.6 | 73.3 | 119.7 | 71.8 | + 7.4 % |
Personnel expenses | 83.7 | 47.7 | 78.1 | 46.9 | + 7.2 % |
Structure cost | 25.4 | 14.5 | 24.3 | 14.6 | + 4.5 % |
EBITA | 20.2 | 11.5 | 18.0 | 10.8 | + 12.2 % |
EBIT | 13.3 | 7.6 | 11.6 | 7.0 | + 14.7 % |
Financial result | (0.0) | - | (0.8) | (0.5) | - |
Profit for the period | 10.2 | 5.8 | 8.4 | 5.0 | + 21.4 % |
Half-Year Financial Report
The complete half-year financial report 2017 is published online in the shareholders' section of the Group website: shareholders.agta-record.com.
Next media release
3rd quarter turnover, on 25 October 2017 (after trading).
About agta record
Ranking among the top players in the global market for automatic pedestrian doors, agta record calls on its integrated technological and commercial know-how. The Group's extensive expertise covers the design, production, marketing, installation and maintenance of a large range of automatic doors and gates.
Headquartered in Switzerland, agta record sells its products and services across the globe and is directly present with subsidiaries in 17 countries. agta record is listed on Euronext Paris, foreign stocks. ISIN: CH0008853209
Contact
Hubert Jouffroy - Chairman of the Board - mail: shareholders@agta-record.com - web: shareholders.agta-record.com
Agta Record AG published this content on 11 September 2017 and is solely responsible for the information contained herein.
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