TURNOVER FOR THE FIRST 9 MONTHS
CONTINUED GROWTH
SALES FOR THE FIRST NINE MONTHS
UP 7% AT CONSTANT CONSOLIDATION SCOPE
| Consolidated sales (€ millions)* | 2017 | 2016 | Change |
| Third quarter (July-September) | 124.0 | 117.2 | +5.9% |
| First nine months (January-September) | 321.9 | 299.8 | +7.4% |
* Unaudited data
Note: Edify’s consolidation scope includes de Buyer, Pellenc, Sirem, les Usines Métallurgiques de Vallorbe and Zurflüh-Feller, which are fully consolidated, and Gaviota-Simbac, which is proportionally consolidated. It takes into account the acquisition of Eckermann, a subsidiary of Zurflüh-Feller, over the third quarter of 2017. It does not include Thermo Technologies which will be consolidated from 1 October 2017.
SALES
Consolidated sales totalled €321.9 million for the first nine months of the financial year, an increase of 7.4% in real terms and 6.9% at constant scope, and were €124.0 million for the third quarter, an increase of 5.9% in real terms and 4.8% at constant scope.
The most notable performances were recorded by Gaviota-Simbac, supported by an international environment that remained favourable, and Pellenc, which capitalised on a particularly dynamic US winemaking environment.
The trend was also upward for Zurflüh-Feller, driven by the integration of Eckermann and the recovery of the French construction market, and de Buyer. Business was stable overall for Usines Métallurgiques de Vallorbe, but was negative for Sirem, hampered by an unfavourable base effect in the swimming pool cover motor business.
OTHER INFORMATION
The third quarter was busy, beginning with the acquisition by Zurflüh-Feller of Eckermann[1], a German manufacturer of components and accessories for roller shutters. It continued with the disposal of the shareholding in Sofilab4, the holding company of La Buvette, a manufacturer of watering and livestock farming equipment for agricultural use, and ended with the finalisation of the acquisition of Thermo Technologies, the holding company that controls Thermocompact[2], a global specialist in high-tech wires notably for EDM (Electro Discharges Machining) and coating surfaces with precious metals using chemical or electrolytic processes.
During the quarter, the credit facility rose from €63 million to €120 million and, as a result, funds available for new investments increased to almost €90 million after deducting the acquisition cost of Thermo Technologies.
[1] Eckermann generates annual sales of approximately €6 million.
[2] Thermocompact generates consolidated annual sales of approximately €70 million.
CORPORATE PROFILE
Edify is an industrial holding company listed on the Euro-MTF market of the Luxembourg stock exchange.
Its portfolio is comprised of majority and minority shareholdings in French, Spanish and Swiss industrial medium-sized businesses and SMEs, namely Zurflüh-Feller (accessories and systems for roller shutters and industrial closing mechanisms), Sirem (motorised solutions for swimming pool covers, milk tank agitators and aqua fitness equipment), Pellenc (portable power tools and machinery for winegrowing, olive growing and green spaces), Les Usines Métallurgiques de Vallorbe (filing tools for the jewellery, watchmaking, forestry, car and aeronautical industries), de Buyer (items and utensils for cookery and patisserie), Thermocompact (surface coating with precious metals using chemical or electrolytic processes and high-tech wires for electro-discharge machining), Gaviota-Simbac (components and motors for awnings and roller shutters), Ligier Group (microcars for unlicensed drivers), and Lacroix Emballages (packaging for solid dairy products).
SHAREHOLDERS’ AGENDA
Publication of annual results: 28 March 2018
CONTACTS
Edify: Valérie Marqués, Chief Financial Officer (+352 24 83 16 20)
Shan: François-Xavier Dupont (+33 1 44 50 58 74)