AKWEL PRESSRELEASEWednesday 12 February 2014
2013 sales totalled €663.8 million
STRONG GROWTH AT AVON AUTOMOTIVE ENTITIES OUTSIDE FRANCE POST RECORD LEVELS OF SALES
Consolidated sales (1 January to 31 December)
In € m - unaudited | 2013 | 2012 |
4th quarter | 160.3 | 160.3 |
Full year | 663.8 | 669.9 |
Like-for-like sales | 681.3 | 669.9 |
LIKE-FOR-LIKE SALES INCREASED 4.1% in Q4
Fourth-quarter 2013 sales totalled €160.3 million, the same as in the previous year. On a like-for-like basis, however, they were up 4.1%, marking a greater increase than in the first three quarters of the year. During Q4, sales of Products and Functions totalled €150.9 million, up 2.1% unadjusted and up 6.3% on a like-for- like basis.
AVON AUTOMOTIVE AND ENTITIES OUTSIDE WESTERN EUROPE DRIVE GROUP GROWTH
Over all of 2013, sales declined 0.9% unadjusted, but increased 1.7% on a like-for-like basis. This was primarily due to the impact of the US dollar, Turkish lira and Argentine peso.
Sales of Products and Functions totalled €630.3 million, vs. €629.9 million in the previous year. On a like-for- like basis, sales were up 2.7%.
Avon Automotive achieved a very strong performance, accounting for 45.5% of total sales. Over
2013 as a whole, its revenues stood at €286.8 million, up 3.5% unadjusted, and up 6.9% on a like- for-like basis.
Sales on the historical scope declined 2.6% unadjusted, but increased 0.4% on a like-for-like basis. Western Europe continued to suffer from ongoing challenging economic conditions. Outside Western Europe, the Group's entities enjoyed strong growth, with China, Turkey and Romania posting record highs. The entities outside France now account for over 42% of MGI Coutier's historical scope. The entities outside Western Europe have achieved strong growth and now account for almost 28% of business activity on the historical scope.
On the business development side, the Group recorded a very high level of new orders in 2013.
SIGNIFICANT CASH GENERATION IN FOURTH QUARTER
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Over the full year, MGI Coutier reduced its indebtedness by around €20 million. Most of this amount was repaid during the 3rd, and especially 4th, quarters, while debt repayments of €4.9 million were made during H1 2013.
FULL-YEAR 2013 EARNINGS SET TO BE IN LINE WITH GROUP OBJECTIVES
MGI Coutier will post a significant increase in its full-year earnings, even after having accounted for considerable capital expenditure and R&D.
Next press release: Full-year 2013 earnings, 23 April 2014 after the market close
Next information meeting: 7 May 2014 at 11.30 a.m. at SFAF, 24 rue de Penthièvre, 75008 Paris.
Automotive equipment manufacturer MGI Coutier is active in two main product families:
fluid transfer and mechanisms.
The Group has 8,000 employees worldwide.
Euronext Paris - Segment C - ISIN: FR0000053027 - Reuters: MGIP.PA - Bloomberg: MGIC
Contacts: MGI Coutier
Jean-Louis Thomasset - Vice-Chairman of the Executive Board/CFO - Tel.: +33 (0)4 50 56 99 25
Actus Lyon
Amalia Naveira - Marie-Claude Triquet - Analysts/Investors/Press relations - Tel.: +33 (0)4 72 18 04 93 -
anaveira@actus.fr-mctriquet@actus.fr
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