PRESS RELEASE Thursday 27 July 2017 after the market close
FIRST-HALF 2017 SALES OF €534.7 MILLION, UP 7.8% Consolidated sales (1 January to 30 June)In € m - unaudited | 2017 | 2016 | Chg. in % |
1stquarter | 270.6 | 242.8 | +11.5% |
2ndquarter | 264.1 | 253.4 | +4.2% |
Total 1sthalf | 534.7 | 496.2 | +7.8% |
MGI Coutier posted sales of €264.1 million in Q2 2017, a rise of 4.2% unadjusted and up 5.6% on a like-for- like basis.
Sales of Products & Functions totalled €253.9 million, up 4.3% unadjusted. Adjusted for an equivalent number of working days, sales rose by 9.6%.
1stHALF 2017: LIKE-FOR-LIKE SALES UP 8.9%While the global automotive market grew by 2.6% in H1 2017, MGI Coutier posted unadjusted growth of 7.8%, to €534.7 million. Growth came to 8.9% on a like-for-like basis. Currency fluctuations had a negative impact and were attributable mainly to movements in the Turkish lira and, to a lesser degree, the Swedish krona.
Tooling sales totalled €15.9 million in H1 2017, down 10.3% but in line with Group forecasts.
Sales of Products & Functions amounted to €515.7 million, up 8.3% unadjusted. Adjusted for an equivalent number of working days, sales rose by 10.9%.
Sales by production region were as follows:
France: -4.0%, to €189.2 million;
Rest of Europe, Russia and Africa: +29.5%, to €157.8 million;
North America: +8.4%, to €124.9 million;
Asie and the Middle East (incl. Turkey): +13.0%, to €53.7 million;
South America: +37.7%, to €9,1 million.
Contributions by product line totalled:
Coolant: €107.0 million;
Fuel and Control: €132.5 million;
Emission Control Systems: €107.6 million;
Mechanisms: €71.9 million;
Washing Systems: €19.2 million;
Engine Management Systems: €77.5 million.
NET DEBT AT 30 JUNE 2017
At 30 June 2017, Group net debt stood at €6.3 million, compared with €3.4 million at 31 March 2017.
2017 OBJECTIVES
MGI Coutier aims to continue its policy of significant investment in 2017, with an annual sales target of at least €1 billion and income from ordinary activities close in value terms to levels achieved in 2016.
Next press release: H1 2017 earnings, 21 September 2017 after the market closeAutomotive component manufacturer MGI Coutier is active in two main product lines: fluids management and mechanisms.
The Group has more than 9,800 employees worldwide.
Euronext Paris - Compartiment B - ISIN: FR0000053027 Reuters: MGIP.PA - Bloomberg: MGIC
MGI Coutier
Contacts
Jean-Louis Thomasset, Vice-Chairman of the Executive Board and CFO - Tel: +33 (0)4 50 56 99 25
ACTUS finance & communication
Amalia Naveira and Marie-Claude Triquet, Analyst/Investor/Press Relations - Tel: +33 (0)4 72 18 04 93 -anaveira@actus.fr -mctriquet@actus.fr
MGI Coutier SA published this content on 27 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 July 2017 17:38:04 UTC.
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