Anteuil, April 3rd, 2018



Record sales and annual results increase

Sales Current operating income Operating income Net income Group share Cashflow from operating activities
+ 16 % 7.2% of sales + 16.4 % + 36 % 8.2 M€
+ 5.5 % CP & CER1 i.e. 14.6 M€ i.e. 7.1 % of net sales   i.e. 4.6 % of net sales  

In millions euros 2017 2016
Net sales 204 175.8
Ebitda 20.9 19.6
Current operating income 14.6 14.3
Operating income 14.6 12.5
Net income Group share 9.4 6.9
Cashflow from operating activities 8.2 13.3
Net financial debt 51.0 37.2
Equity 62.5 58.9

Net sales increased by 16 %, which represents + 5.5 % at constant perimeter and constant exchange rate.

Sales in the Automotive division, representing 79 % of the overall net sales, are up by 2.7 %      (+ 4.6 % at CP & CER1). Global automotive growth for the same period is + 2.2 %3. Sales in the on-board networks protection activity are up by 3.3 % (+ 5.2 % at CP & CER1).                                                                                                        The activity of technical tubing for fluid transfer increased by 14.2 % (+ 15.7 % at CP & CER1). The performances were affected by the management of the downsizing of the mechanical parts assembly business (- 22 %).

Sales in the Specialty markets division are up by 124.1 % particularly due to the acquisition of DROSSBACH NA Group (21.7 M€ of net sales) and the growth (+ 18.5 %) of the technical textiles activity (excluding automotive).

DELFINGEN Industry generated a current operating income of 14.6 M€, i.e. 7.2 % of sales      (8.1 % in 2016) with an improvement of the gross margin by 1.5 percentage points but strong efforts to maintain the growth plan. The operating income is 14.6 M€ up by 16 %, the year 2016 having been impacted by one-off charges totaling 1.8 M€.

The financial result is 5.0 M€ affected by a negative effect of currency by 2.5 M€. The tax expense decreased compared to 2016 due to a positive effect of the American tax reform by 2.0 M€. The net income is 9.4 M€ i.e. 4.6 % of sales up by 36 %.

The net financial debt is at 51 M€ on December, 31st, 2017, compared to 37.2 M€ on December, 31st, 2016 due to the acquisition of DROSSBACH NA. The Gearing is at 82 %.

In a context where the automotive production is expected to grow by 2 %, and raw material prices would be in line with the actual levels, DELFINGEN Industry expects further growth of its net sales and its operational margin in 2018. DELFINGEN Industry confirms its 5-year strategic plan in terms of activity growth and operational result goals.

1 Constant perimeter and constant exchange rate
2 Ref. annual financial report
3 Source: HIS

  

DELFINGEN, a global automotive supplier and a leading manufacturer of on-board networks protection solutions and fluid transfer tubing.

EURONEXT Growth Paris - ISIN code: FR 0000054132 

Mnemonic: ALDEL

Next press release: 07/05/2018 - Net sales of 1st quarter 2018

Mr. Christophe Clerc: +33 (0)3.81.90.73.00 - www.delfingen.com