2016 EBITDA: +8.1% Proposed Dividend: +42.8% Lyon, 12 April 2017

(€ thousands)

H1-2016

% of sales

H2-2016

% of sales

2016

% of sales

2015

% of sales

sales

99,683

98,930

198,613

238,218

EBITDA (current operating income before provisions and depreciation)

5,555

5.6%

7,889

8.0%

13,443

6.8%

12,433

5.2%

Current operating income Operating profit

5,034

4,509

5.1%

4.5%

6,678

6,525

6.7%

6.6%

11,712

11,033

5.9%

5.6%

11,923

11,759

5.0%

4.9%

Net income

2,723

2.7%

4,430

4.5%

7,153

3.6%

7,301

3.1%

Attributable to the Group

2,454

2.5%

4,382

4.4%

6,836

3.4%

6,820

2.9%

Accounts approved by the Board of Directors on 12 April 2017. Audit procedures were performed on the consolidated financial statements. The Auditors' Report will be issued after finalisation of the procedures required in connection with the annual report's publication.

News

  • Operating highlights:

    • Revenue declined, in line with the plan previously announced, though was of better quality, reflecting U10's focus on profitability.

    • On that basis, 2016 EBITDA rose 8.1%.

  • Financial highlights:

    • Consolidated shareholders' equity was further strengthened, reaching €107.8 million or €5.78 per share.

    • Gearing amounted to 27.3% and included financing for a new logistics building.

    • Operating activities generated €14.6 million in operating cash flows.

  • Dividend:

    • In 2016, U10 repaid in full the balance of its debt linked to prior acquisitions and resumed a dynamic policy for the distribution of dividends.

    • The Board of Directors will accordingly propose to the general meeting of the shareholders of 15 June a

      dividend of€0.30 per share with a payment date of 5 July 2017.

    • The dividend proposed, that is expected to be maintained in the future, is up 42.8%, representing a yield of more than 8%based on the share price of the last 100 trading sessions.

      Outlook

  • In Asia, revenue from importers was lower though is expanding for the direct distribution segment. With the US dollar too expensive, certain importers have shifted in part to countries that are closer whereas the "Decoration" concept of U10 Limited directly addresses international retail. This business model, based on the strength of the value proposition and significant know-how, is providing the basis for the U10's development of the Asia division.

    U10 Limited will be an exhibitor at the most important trade show of the year, the Canton Fair, in the first week of May.

  • InEurope, sales are marginally impacted by the significant slowdown of a customer in the top 10 that no longer offers sufficient financial guarantees. Despite this adverse development, the Group foreseesgrowth in the Home division in the2ndhalf based on new accounts in the process of being opened.

The FY16 Annual Report and the detailed Financial Statements will be posted at our website www.u10.fr no later than 28 April 2017. The general meeting will be held on 15 June 2017 and first-half revenue will be published on 26 July.

U10 is a creator, supplier and provider of logistic services in the Home equipment universe.

Euroclear: 7914 - ISIN FR0000079147

Contact: Next financial press release:

Patricia Michel - Finance Manager 2017 first-half sales

Tel: +33 (0)4 37 64 47 85 26 July 2017 after the close of trading

finances@u10.fr

U10 SA published this content on 12 April 2017 and is solely responsible for the information contained herein.
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