Rotterdam, May 7, 2019 – Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for Q1 2019:
Sales: 4.3% lower to USD 783.6 million,
compared with USD 818.4 million in Q1 2018.
The 4.3% sales decrease reflects a 2.0% volume increase, 4.0% negative currency impact, 3.8% decrease from divestments and 1.5% increase from acquisitions.
Volume increased in all areas except in Asia where sales were lower.
North America accounted for 47% of sales, Europe 40%, Asia 5%, Latin America 4%,
and Australia 4%. Window Coverings were 90% and Architectural Products
were 10% of sales.
Earnings before interest, tax, depreciation and amortization – EBITDA:
USD 81.6 million, 2.9% higher than USD 79.3 million in Q1 2018.
Income from Operations:
USD 46.0 million compared with USD 45.1 million in Q1 2018. Results in local currencies were better in all areas.
Profit before Tax: USD 43.0 million, 5.9% higher than USD 40.6 million in Q1 2018.
Total Net Profit: USD 34.5 million (per share EUR 0.87) compared with
USD 33.1 million in Q1 2018 (per share EUR 0.78).
Operating cash flow: USD 5.7 million negative compared with USD 16.7 million negative in Q1 2018.
The 2018 Balance Sheet and Statement of Income have been restated for comparison reasons in order to comply with IFRS 16 – Lease accounting, implemented per January 1, 2019.
Hunter Douglas expects continued but slower growth in the US, Europe and Asia, and improving economic conditions in Latin America.
Hunter Douglas is in a strong position in terms of its brands, products, distribution and finances.