HAMON & CIE (INTERNATIONAL) S.A.
Hamon booked new orders for EUR 84.2 million during the first three months of 2015 whereas the same period in 2014 showed an exceptionally high level following the signature of several major contracts.
By Industry - YT D
Utility
42%
Oil Gas
By Region - YT D
Usa - Canada
16%
Europe
Other
31%
Metal
Industry
6%
Other
Americas
13%
Asia-
Pacific
13%
As of end of March 2015, power producers and the Oil & Gas industry were still the main customers of the Group, but their share went down from 78% of the new order bookings in Q1 2014 to 63% in Q1 2015. An important contract with a phosphate mine company explains the high level represented by the Other industries for the Hamon Group.
The traditional Hamon markets, Europe and North America, represented 44% of the total new orders (versus 37% as end of March 2014).
Emerging countries, with new order bookings close to EUR 47 million, confirmed their first position (56% of new order bookings) among others thanks to the Middle East.
28%
Middle East
& Africa
30%
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in EUR million | 2015 YTD | 2014 YTD | 2013 YTD |
Cooling Systems Process Heat Exchangers Air Quality Systems NAFTA Others | 59,5 6,3 7,4 11,0 0,0 | 131,9 9,9 27,2 34,5 0,0 | 46,3 28,8 58,8 22,5 0,0 |
TOTAL | 84,2 | 203,5 | 156,4 |
Important letters of intent were obtained in Q1 2015; they should be converted into firm orders during the coming quarters.
Cooling systems
New orders booked in Q1 2015 amounted to almost EUR 60 million, lower than the EUR 132 million booked in Q1 2014 which represented a historical performance for the Business Unit, with major contracts in Dry cooling in Asia and in the Middle East. Nevertheless, the bookings in Q1 2015 were higher than those of Q1 2013 (EUR 46 million).
Wet cooling showed very good performances, with the signature of several new contracts, both for new units and for revamping and maintenance works in France, in South America, in South East Asia and in Germany.
Dry cooling should be more active during the next quarters, with significant contracts expected.
Many offers have been submitted, concerning mainly projects under construction in the Gulf region. However, the purchasing decisions have been delayed. New order bookings amounted to EUR 6 million as of end of March 2015.
The BU is confident regarding the possibility to book a good level of new orders in Q2 and Q3 2015.
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Rue Emile Francqui 2, B-1435 Mont-St-Guibert, Belgium
During the first quarter of 2015, the Business Unit Air Quality Systems booked a temporarily lower level of new orders compared to the previous quarters. Some major decisions expected during this quarter were delayed in Europe and in Asia.
However, it should be noted that the contribution margin is higher than what was budgeted.
The BU management foresees that new order bookings will increase during the second quarter, with some significant potential contracts during the second half year.
The Business Unit did not reach its new order targets in Q1, because the decisions on some projects on which the Group submitted offers were delayed.
However, the prospects remain good and our management still expects a high level of new order bookings in 2015.
In view of the general economic environment, Hamon does not release any guidance on its future results.
Hamon & Ciewww.hamon.com
Rue Emile Francqui 2, B-1435 Mont-St-Guibert, Belgium
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 | corporate@hamon.com | +32.10.39.04.05 |
Christian Leclercq, CFO | christian.leclercq@hamon.com | +32.10.39.04.22 |
Publication of the first half-year 2015 results 4 September 2015
Publication of the Trading update Q3 2015 30 October 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 quality systems (AQS), Heat Recovery Steam Generators (HRSG) and chimneys, used in power generation, oil & gas and other heavy industries like metallurgy, glass, chemicals.
Hamon & Ciewww.hamon.com
Rue Emile Francqui 2, B-1435 Mont-St-Guibert, Belgium
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