THERMADOR GROUPE Turnover at September 30, 2014: +1.4%
| In thousands of euros | 2014 | 2013 | Variation 2014/2013 |
| 1st quarter | 55,576 | 52,782 | + 5.3% |
| 2d quarter | 55,397 | 53,102 | + 4.3% |
| 3rd quarter | 48,689 | 51,563 | - 5.6% |
| Total 30/09/2014 | 159,662 | 157,447 | +1.4% |
| Breakdown by business : | |||
| Jetly, pumps | 35,523 | 35,351 | + 0.5% |
| Sferaco, valves | 32,543 | 33,433 | - 2.7% |
| Thermador, heating accessories | 25,770 | 27,101 | - 4.9% |
| PBtub, tubes in synthetic materials | 22,724 | 21,436 | + 6.0% |
| Dipra, DIY stores | 16,050 | 17,114 | - 6.2% |
| Thermador International | 12,832 | 10,234 | + 25.4% |
| Sectoriel, drive units for valves | 9,375 | 8,711 | + 7.6% |
| Isocel, components for boilers | 4,178 | 3,787 | + 10.3% |
| Axelair, ventilation | 394 | ||
| Other structures | 273 | 280 | - 2.5% |
Comments on Q3
The continuing decline in the level of business activity in the construction sector, plus the rainy summer, have seriously impacted Jetly, Sferaco, Thermador, PBtub and Dipra. We mistakenly thought that we had reached the bottom of the dip in our markets, but it is clearly not the case in France.
Fortunately, we have been able to sustain our international development, along with Sectoriel's progression in the industrial segment.
Prospects
These generally disappointing figures and the instability of the market compel us to be extremely prudent about turnover forecasts for the 4th quarter, given our good performance over the same period in 2013.
Being free of debt does however mean that we can continue to invest in our European customers, since we plan to extend the building used by Sectoriel as soon as we have completed works on Sferaco's premises.
Finally, our healthy cash flow situation allows us to announce already that we will be proposing to maintain the level of dividend pay-out at the AGM to be held on April 7, 2015 in Lyon.
http://hugin.info/143595/R/1862879/653616.pdf
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Source: THERMADOR GROUPE via Globenewswire
