Third quarter 2009 :
The recovery intensifies
Anteuil, November 4th, 2009
Total quarter sales treated as one
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| In millions of euros | 2009| 2008 | Variation| Variation at constant exchange rate|
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| Sales | 54.8| 73.8| -25.8%| -29.0%|
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| Of which: | | | | |
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| Europe-Africa-South America (EAAS) | 31.2| 42.1| - 25.9%| - 25.9%|
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| North America-Central America-Asia (ANCA)| | | | |
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| | 23.6| 31.7| -25.6%| -33.3%|
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
| | | | | |
+-------------------------------------------+--------+----------+-------------+---------------------------------------+
2009 sales detailed for each quarter
+------------------------+--------+----------+-------------+---------------------------------------+
| In millions of euros| 2009| 2008 | Variation| Variation at constant exchange rate|
+------------------------+--------+----------+-------------+---------------------------------------+
| 1st quarter | 15.4| 23.9| -35.4%| -39.6%|
+------------------------+--------+----------+-------------+---------------------------------------+
| 2nd quarter | 18.7| 27.6| - 32.2%| - 35.5%|
+------------------------+--------+----------+-------------+---------------------------------------+
| 3rd quarter | 20.7| 22.3| -7.4%| -9.7%|
+------------------------+--------+----------+-------------+---------------------------------------+
| | | | | |
+------------------------+--------+----------+-------------+---------------------------------------+
In spite of the ongoing recovery of the automotive market in the third quarter ¯ especially in America with an increase of 16% compared to the second quarter ¯ the fall of the automotive market compared to 2008 still reaches -43% in America and -22% in Europe.
There was an increase of 21% in the second quarter compared to the first one. The up trend was confirmed in the third quarter with an increase of 9% in Delfingen Industry group sales compared to the results of the second quarter, in spite of the unfavourable impact linked to the seasonal variations.
However, sales at the end of September remain lower than during the same period last year (-26%) due to:
- The fall in the activity (-34%)
- The increase of market share in relation to the acquisition of the wiring harness protection division of M&Q in mid-March 2008 (+5%)
- The increase of dollar vs. euro parity (+3%)
In Europe sales have increased by 4% between the second and the third quarter despite the negative impact of August. The effect of destocking, that happened at the beginning of the year, is fading away. Comparing sales at the end of September 2009 with sales at the same period last year, the decrease reaches only -26% in a market decreasing by 22%.
In America, for the first time this year, sales have increased significantly in the third quarter (+16% vs. second quarter). At the end of September, sales had decreased by 33% due to:
- The 42% fall in the activity related to the fall in the market
- The market share increase in full year thanks to the acquisition of M&Q (+9%)
Delfingen Industry carries on with organization as well as production capacity adjustments. The second semester shows a clear recovery compared to the first semester.
Copyright Hugin
The appendixes relating to the press release are available on:
http://www.hugingroup.com/documents_ir/PJ/CO/2009/159952_88_GLBN_2009-T3-TRIS-ENG.pdf
Information réglementée :
Type : Nouvelle information
Thème(s):
Communiqués au titre de l'obligation d'information permanente - Communiqué sur comptes, résultats, chiffres d'affaires
This announcement is originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
[CN#159952]
