HAMON & CIE (INTERNATIONAL) S.A. Hamon Press
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Regulated information 31 October 2014, 18:00 Trading update Q3 2014 Highlights
Hamon booked new orders for EUR 476.7 million during the first 9 months of 2014 (EUR 532.1 million and 292.3 million for the same period of 2013 and 2012), along with new orders for EUR 99.5 million during the third quarter of 2014 (respectively EUR 99.5 million and EUR 87.2 million for the same period in 2013 and 2012).
Our traditional home markets, Europe & North America, represent 41% of the Group sales but those regions counted for 64% in September
2013. Emerging markets are therefore the new major contributors with new orders at EUR 282 million or 59% of the bookings at the end of September 2014 with an important increase of the sales in the Middle East (this region represents 21% of the new orders in September
2014 versus 3% for the same period in 2013).
Utilities and Oil & Gas, at 88% of the bookings of the first 9 months, represent the Group's two core markets. However, 12% of our bookings have also been signed with other industries like cement and metal but also waste incineration & paper.
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Review by Business Unit New orders by Business Unitin EUR million | 2014 YTD | 2013 YTD | 2012 YTD |
Cooling Systems Process Heat Exchangers Air Pollution Control EMEA/Brazil APC & HR NAFTA Chimneys Others | 239,2 27,3 116,5 87,4 6,3 0,0 | 191,9 48,2 100,6 178,0 13,5 0,0 | 153,3 36,4 37,0 52,0 13,5 0,0 |
TOTAL | 476,7 | 532,1 | 292,3 |
The new orders in Q3 2014 amounted to EUR 60 million and are well balanced over dry and wet cooling towers and over the different regions.
This good performance in the third quarter combined with major successes in the first semester of the dry cooling in the Middle East and China, of the wet cooling (either new installation or major repair/repack works) in South Korea, India, Greece, Russia, Poland and the U.K and of the customer services activities in Western Europe and US brought the new orders at the end of September to EUR
239 million. This is EUR 47 million higher than last year at the same period.
The new orders in Q3 2014 amounted to EUR 13 million mainly driven by contracts signed in the Middle East and in Europe and reached EUR 27 million for the first 9 months of 2014. As previously communicated the new management is setting up a new adapted and focused business strategy in a reinforced controlling environment.
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Air Pollution Control EMEA / Brazil
Q3 bookings amounted to EUR 20 million thanks to two major contracts signed in Vietnam and Brazil in September. This quarter represented a 100% increase in comparison with the third quarter 2013 (EUR 10 million booked).
Year-to-date bookings of EUR 116 million were 15% higher than the prior year same period. Power (58%) and Oil & Gas (26%) still represent the majority of our activities.
The Business Unit had strong bookings for Q3 of approximately EUR 45 million. Each market segment had strong bookings led by the HRSG and large boiler product lines with a good mix of the other products (Fabric Filters, ESPs, ReACTTM and Recuperative Heaters) making up the remainder of bookings.
Year-to-date bookings remained strong at EUR 87 million despite not booking a mega-project this year as ReACTTM in 2013. There continues to be a nice distribution of bookings with growth in certain product lines like HRSG's, industrial boilers & aftermarket.
The third quarter was a good bookings quarter (EUR 4 million) for the Chimney Business Unit considering that there is no new chimney in the market. Year-to-date bookings are less positive with EUR 6 million of new orders.
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Prospects
In view of the general economic environment, Hamon does not release any guidance on its future results.
This presentation contains forward-looking information that involves risks and uncertainties, including statements about Hamon's plans, objectives, expectations and intentions. Readers are cautioned that forward-looking statements include known and unknown risks and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Hamon. Should one or more of these risks, uncertainties or contingencies materialize, or should any underlying assumptions prove incorrect, actual results could vary materially from those anticipated, expected, estimated or projected. As a result, neither Hamon nor any other person assumes any responsibility for the accuracy of these forward-looking statements.
For all additional information, please contact :
Hamon Investors Relations investorsrelations@hamon.com
Francis Lambilliotte, CEO mailto:corporate@hamon.comcorporate@hamon.com+32.10.39.04.05
Christian Leclercq, CFO chrisitan.leclercq@hamon.com+32.10.39.04.22
Publication of the full year 2014 results 27/02/2014
Annual Shareholders Meeting 2015 28/04/2015
Publication of the first quarter 2015 results 30/04/2015
The Hamon Group is a world player in engineering & contracting (design, installation and project management). Its activities include the design, the manufacturing of critical components, the installation and the after-sale services of cooling systems, process heat exchangers, air pollution control (APC) systems, Heat Recovery Steam Generators (HRSG) and chimneys, used in power generation, oil & gas and other heavy industries like metallurgy, glass, chemicals.
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