Microsoft Word - U10 - FY 2015 results



2015 operating profit: H2 +100%vs. H1

Lyon, 6 April 2016


(€ thousands)

H1-2015

% of sales

H2-2015

% of sales

2015

% of sales

2014

% of sales

Net sales

113,477

124,740

238,218

224,215

Operating profit

3,921

3,5%

7,838

6,3%

11,759

4,9%

14,619

6,5%

Consolidated net income

2,460

2,2%

4,841

3,9%

7,301

3,1%

9,090

4,1%

Net income attributable to the Group

2,088

1,8%

4,732

3,8%

6,820

2,9%

8,426

3,8%


Accounts approved by the Board of Directors on 6 April 2016. 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.


U10's operating profit in the 2015 second half was up100% on the year's first six months, marking a return to its profitability level.

Following the flattening of the euro/dollar exchange, measures adopted rapidly restored operating results to a good level.

As announced, the repositioned Asian business model is on track for more profitable growth.


Operating highlights

  • Annual sales registered growth of6.2%.
  • Operating profit came to€11.8m, with€7.8m from H2.
  • Consolidated net income reached €7.3m for the year, with€4.8m from thesecond half compared to €2.5m forH1.


    Financial highlights

  • Working capital amounted to€67.1m or28.2% of sales.
  • Net debt declined by8.6% to €25.6m.

  • The Board of Directors will propose to the general meeting of the shareholders of 16 June a dividend of €0.21 per share for fiscal 2015 with a payment date of 6 July 2016.


    Outlook

  • U10 reiterated its goal to become, with its Europe and Asia divisions, a pure player international supplier of home decoration items.

  • At the end of 2015, U10 decided to discontinue the part of its basic Trading activity not generating real profit and outside the scope of the Home furnishing segment and which represented one third of its sales volume in Asia.

    By developing U10 Hong Kong, U10 will concentrate on its higher value added core business.

  • In 2016 and going forward, U10 will focus its development on achieving quality sales in order to

increase itsoperating profitability.


The Annual Report and the detailed Financial Statements will be posted at our website www.u10.fr no later than 30 April 2016.


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 2016 first-quarter sales

Tel: +33 (0)4 37 64 47 85 27 April 2016 after the close of trading

finances@u10.fr

U10 SA issued this content on 06 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 April 2016 08:36:24 UTC

Original Document: http://u10.hosting.inten.fr/u10-wp442/wp-content/uploads/medias/U10-FY-2015-results.pdf