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.
Distributed by Public, unedited and unaltered, on 11 September 2017 16:03:06 UTC.

Original documenthttp://www.agta-record.com/en/80_news/00_news.htm?n=51

Public permalinkhttp://www.publicnow.com/view/139D77786488AF12CC8C04A6247CFF79D7E728A7