Kendrion posts 5% revenue growth and 29% profit growth in strong first half 2017
Revenue increases in Q2 2017 by 3% to EUR 117.3 million (Q2 2016: EUR 114.1 million)
Normalised EBITA growth of 23% to EUR 10.6 million in Q2 2017 (Q2 2016: EUR 8.6 million) as simplification measures continue to take effect
Normalised EBITA margin increases to 9.0% in Q2 2017 from 7.5% in Q2 2016
Normalised EBITA margin in HY1 2017 rises to 9.0% from 7.3% in HY1 2016
Normalised net profit of EUR 13.7 million in HY1 2017 (HY1 2016: EUR 10.1 million)
Continuing simplification measures result in one-off costs of EUR 2.0 million in HY1 2017, with corresponding annualised savings of EUR 1.8 million

Joep van Beurden, Kendrion CEO:
"Kendrion had a good second quarter and first half of 2017. We grew our revenue by 5% and our EBITA by 29% relative to the first half of 2016, as more favourable market conditions enhanced the positive effect of our simplification measures.

We continue to implement our strategy of "Simplify, Focus, Grow", and expect further benefits from simplification, as we continue to streamline and simplify our way of doing business. In terms of focus, we are investing in additional production capacity in Germany for permanent magnet brakes. In China, where we saw double digit revenue growth over the first half year, we plan to open a new facility for expansion of our production capacity in the first half of 2018, in anticipation of further growth.

The global economic outlook improved and we look at the future with confidence, based on our strong business fundamentals, broad R&D capabilities, close customer relationships and growing project pipeline. We reiterate our expectation to grow annual revenue by an average of 5% and deliver an EBITA margin of 10% as from the end of 2018."

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http://files.smart.pr/4a/aead60824711e79bf683438454b8ac/1708016-Press-release-Kendrion---HY1-results-2017.pdf

tijd 09.25
Kendrion EUR 36,25 +1,12 vol. 17.424