The main reason for the increased financial result is the positive impact of the realized currency differences EUR/GBP, partly compensated by the negative impact of the realized currency differences EUR/USD, the company reports.

Results

At the end of the first half of 2015 the Sioen Industries Group realized EUR 168.5 million sales from continuing operations, compared to EUR 166.7 million from comparable activities over the same period in 2014, or an increase by 1.1%.

The gross margin over the first half of 2015 was EUR 88.4 million, compared with a gross margin of EUR 83.1 million over the same period in 2014.

The operating result at the end of the first half of 2015 amounted to EUR 18.5 million, compared to EUR 14.1 million over the same period last year. As a percentage over net sales, operating result increased from 8.5% to 11.0% at the end of the period.

The group recorded a profit from continuing operations of EUR 11.5 million for the first half of 2015, compared to EUR 8.3 million over the same period last year. The net cash flow from continuing operations amounted to EUR 19.4 million, compared to EUR 17.1 million over the same period last year.

Coating

In the first half of 2015, the coating division achieved external sales from continuing operations of EUR 100.7 million versus EUR 96.4 million over the same period last year, or an increase with 4.5%. Growth was driven by all product lines, according to the manufacturer.

Apparel

In the first half of 2015, the apparel division achieved external sales from continuing operations of EUR 47.5 million versus EUR 49.9 million over the same period last year, in line with the budget, the company reports.

Chemicals

In the first half of 2015, the chemicals division achieved external sales from continuing operations of EUR 20.3 million versus EUR 20.4 million over the same period last year. Sales in the chemicals division remained status quo, thanks to a well-balanced product range and our presence in various markets.

Outlook for 2015

Subject to changes in macro-economic and political environment and announced price increases for raw materials, which the company has anticipated, all indicators bode well for the second half of the year. Consequently Sioen Industries will focus even more on its core values:

• strong focus on R&D and innovation
• diversified product portfolio, tailored to the customer’s needs
• cost efficiency

www.sioen.com