MERSEN • 9% growth on a reported basis
• Like-for-like sales close to performance in Q1 2014
• Robust growth in energy, electronics and transportation markets
Paris, April 28, 2015 - Mersen (Euronext FR0000039620 - MRN), global expert in electrical specialties and graphite-based materials, recorded €196 million in consolidated sales for Q1 2015.
"As expected, business levels at the beginning of the year were close to volumes recorded last year over the same period, on a like-for-like basis. We delivered growth in the energy, electronics and transportation markets. The chemicals sector was still impacted by a negative basis for comparison and weak activity. Business was brisk in North America. We are confident in our capacity to seize all growth opportunities over the course of the year," commented Luc Themelin, Chairman of Mersen's Management Board.
The Group's sales grew 8.7% on a reported basis in Q1 2015, including a positive currency impact close to €19 million over the quarter. On a like-for-like basis, sales were down 1.6% compared with Q1 2014. Excluding the chemicals market, like-for-like growth was close to 3% in the first quarter.
Q1 2015 | Q1 2014 | Total growth | Organic growth | |
Materials segment Electrical segment | 74.4 121.4 | 71.7 108.4 | 3.7% 12.0% | (7.7)% 2.6% |
Group total | 195.7 | 180.1 | 8.7% | (1.6)% |
Europe Asia-Pacific North America Rest of the world | 67.9 43.1 75.1 9.6 | 73.5 38.5 59.9 8.2 | (7.6)% 11.9% 25.4% 17.5% | (9.7)% (1.5)% 5.2% 13.0% |
Group total | 195.7 | 180.1 | 8.7% | (1.6)% |
Unaudited figures
1/3
Paris, April 28, 2015
50% of the decline in Europe was prompted by the Sabic contract base of comparison effect. While the chemicals market as a whole was weak, the Group recorded substantial growth in aerospace transport and solar energy.
There are contrasting trends in Asia, with brisk growth in India and Korea as opposed to the slowdown in China, which had recorded a strong performance in Q1 2014. Excluding the discontinuation of the carbon steel equipment business, sales in the region grew slightly over the period.
In North America, sales rose 5.2%, fueled by the wind energy and electronics markets. The electrical distribution market also remained positive.
The Materials segment posted a 3.7% growth. On a like-for-like basis, the 7.7% contraction was mainly attributable to the Sabic contract base of comparison effect and discontinuation of carbon steel equipment operations. Excluding the chemicals sector, growth was close to 3% for this segment. Solid growth in the solar, electronics and aerospace markets was particularly favorable to the Group, in a challenging pricing environment.
Sales in the Electrical segment were up 12%. On a like-for-like basis, the growth was 2.6% boosted by renewable energies (solar and wind). Process Industries markets are also trending upwards.
Mersen confirms its 2015 guidance announced on March 11 on publication of its 2014 annual results, namely like-for-like sales growth of 0 to 4%, depending on economic conditions, with a more favorable second half of the year. The Group maintains a target in the range of 8.6% and 9.4% of sales for its operating margin before non-recurring items.
---End---
Financial calendar
2015 HY Sales and Results: July 31, 2015 before market opening
About Mersen
Global expert in electrical specialties and graphite-based materials, Mersen designs innovative solutions to address its clients' specific needs to enable them to optimize their manufacturing process in sectors such as energy, transportation, electronics, chemical, pharmaceutical and process industries.
2/3
Paris, April 28, 2015
The Group is listed on NYSE Euronext Paris - Compartment B
Visit our website www.mersen.com
Contact Press ContactVéronique Boca Nicolas Jehly / Guillaume Granier
VP, Financial Communication FTI Consulting Strategic Communications
Mersen Tel: +33 (0)1 47 03 68 10
Tel: + 33 (0)1 46 91 54 40 Email: nicolas.jehly@fticonsulting.com/ Email: dri@mersen.com guillaume.granier@fticonsulting.com
3/3
|
distributed by
|
