Half Year Results 2016 significant recovery in the Group's profitability

« At mid-year, ORAPI Group crossed as expected a new stage of its 5 years development plan:

  • The integration plan will be completed in late 2016

  • The Group's profitability is recovering significantly with current operating income up 49%

  • Teams focus on operational discipline and the development of our six target markets:

transport, industry, leisure, health, communities, cleaning companies. »

Guy Chifflot, ORAPI Group Chairman

In €K

06/30/2016

06/30/2015

Turnover

133 575

147 891

EBITDA (*)

6 555

5 524

Current Operating Income

2 707

1 821

Operating Income

1 762

- 91

Net Result (Group share)

- 451

- 1 907

( * ) : EBITDA = COP + depreciations and amortizations

The Board of Directors of ORAPI Group, last held 13 September 2016 under the chairmanship of Guy Chifflot, approved the condensed consolidated financial statements for the first half of 2016.

Performance aligned with the targets

The ORAPI Group confirms a turnover of € 133.6 million for the first half 2016. In a stable market, it continues the structuring integration of PHS in line with the strategic plan. This reorganization process has reduced turnover as anticipated.

Gross margin rate increased by 0.4 pt to 50.6%.

EBITDA enrolled at € 6.5m vs. € 5.5m in H1 2015 and the current operating income amounted to € 2.7 million, against + € 1.8 million as a result of cost savings incurred in Orapi Hygiene in the second half 2015.

Operating Income, positive, amounts to € 1.8 million. It includes € 0.9 million of non- recurring charges primarily for restructuring purposes.

These charges impact the net income Group share amounting to - € 0.5 million. Cash flow amounted to € 3.1 million in first half 2016 against € 1.1 million in 2015.

In order to focus on its core businesses in Professional Hygiene and Process, Orapi sold in August 2016, the company Exist (1 M € turnover) which operates as a cleaning services provider.

2017 : continuing to improve performance

The Group continues in H2 2016 its transformation according to its strategic plan. It maintains its target of further improving its operational performance as early as next year.

The ORAPI Group confirms its 6-8% target of EBITDA within 3 years.

Read the full interim financial statements ORAPI Group on www.orapi.com

ORAPI designs, manufactures and distributes technical products and solutions for Hygiene and Process. ORAPI is the French leader in Professional Hygiene

ORAPI is listed on compartment C of Euronext Paris under ISIN code: FR0000075392 Reuters code : ORPF. PA Bloomberg code : ORAP. FP

ORAPI is eligible for PEA - SMEs and is part of the EnterNext © SSP - 150 SMEs index.

Contacts :

Deputy CEO

Henri Biscarrat

Tel : +33 (0)4 74 40 20 04

henri.biscarrat@orapi.com

ORAPI Communication

Fabienne CHIFFLOT

Tel : +33 (0)6 60 36 46 81

fabienne.chifflot@orapi.com

Financial Communication

J.Gacoin/S.Kennis

Tel : +33 (0)1 75 77 54 67

jgacoin@aelium.fr

Orapi SA published this content on 13 September 2016 and is solely responsible for the information contained herein.
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