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Long winter subdues Sioen

Sioen Industries, a producer of technical textiles, fine chemicals and high-tech protective clothing, has announced the first half 2013 year results, with the net sales from continuing operations of EUR 161.7 million compared to EUR 167.1 million over the same period in 2012, resulting into a decrease of 3.2%. A decline has been recorded in the coating sector, as a result of an extremely long winter, causing the delay of projects, postponed road works and a decreased demand for transportation, the company reports. The apparel division realised a slight growth with an increase situated in the different markets, as the final acquisition agreement with Van Ochten Bedrijfskleding BV was signed on 1 July 2013. According to the company, sales in the chemicals division remained status quo, thanks to a well-balanced product range.

30th August 2013

Innovation in Textiles
 |  Ardooie

Protective, Clothing/​Footwear, Industrial

Sioen Industries, a producer of technical textiles, fine chemicals and high-tech protective clothing, has announced the first half 2013 year results, with the net sales from continuing operations of EUR 161.7 million compared to EUR 167.1 million over the same period in 2012, resulting into a decrease of 3.2%.

A decline has been recorded in the coating sector, as a result of an extremely long winter, causing the delay of projects, postponed road works and a decreased demand for transportation, the company reports.

The apparel division realised a slight growth with an increase situated in the different markets, as the final acquisition agreement with Van Ochten Bedrijfskleding BV was signed on 1 July 2013.

According to the company, sales in the chemicals division remained status quo, thanks to a well-balanced product range.

Results

Continuous efforts in research and development combined with a strict pricing policy resulted for the company in a gross margin of EUR 79.6 million at the end of the first half of 2013, in line with the same period in 2012.

The operating result at the end of the first half of 2013 amounted to EUR 11.3 million compared to EUR 15.2 million last year. As a percentage over net sales, operating result decreased from 9.1% to 7% at the end of the period.

The group recorded a profit from continuing operations of EUR 5.4 million for the first half of 2013, compared to EUR 8.8 million over the last year.

The net cash flow from continuing operations amounted to EUR 13.8 million, a decrease compared to EUR 16.7 million over the same period last year.

Working capital, expressed as a percentage of net sales, increased slightly from 31.4% as per 30 June 2012 to 32.4% as per 30 June 2013. In Euro however, it has decreased to EUR 104 million. The net financial debt position increased from EUR 65 million, at the end of last year, to EUR 69.4 million at the end of June 2013.

Outlook

The company reports that the first signs of economic revival are present on the markets, but offer too little grip to make predictions.

In order to support growth, the Sioen Industries focuses on to its basic values, which the company sees as the basis for the future development of the group. These include a well spread product portfolio, strong emphasis on research and development, and cost consciousness.

Sioen Industries

The leader in coated technical textiles, Sioen Industries offers an extensive portfolio of products and activities, including spinning, weaving and coating, manufacturing of clothing, production of fine chemicals and processing of technical textiles.

With strong specialisation in high end technical apparel and fine chemicals, the company aims at global B-to-B customers and professional users, in order to assure continuity, risk-spreading and profitable growth.

The group also focuses on developing environmental friendly coating and converting technologies to create sustainable profitable growth.

www.sioen.com

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