PRESS RELEASE
Monday 14 May 2018 after the market close
CONTINUED GROWTH
Q1 2018 SALES: €280.2 MILLION
Q1 2018 SALES: UP 9.5% LIKE-FOR-LIKE
Consolidated sales (1 January to 31 March)
In € m -unaudited | 2018 | 2017 | Chg. in % |
1stquarter | 280.2 | 270.6 | +3.6% |
First-quarter 2018 sales posted robust growth and reached a new all-time high, despite a high base of comparison (Q1 2017 sales up 11.5%) and an unfavourable number of working days.
Revenues thus stood at €280.2 million, up3.6% unadjusted, and up 9.5% on a like-for-like basis.
The negative currency impact during the quarter was €16.1 million, principally as a result of fluctuations in the dollar (impact of €-9.3 million) and the Turkish lira (impact of €-5.0 million).
Sales of Products & Functions totalled €269.7 million, up 3.0% unadjusted.Tooling sales were particularlystrong, rising 19.5% unadjusted to €9.0 million.
This growth momentum was observed in most of the geographical regions where the Group is active. Seven sites posted record sales during the month of March.
Comparisons to the first quarter of 2017 by production zone were as follows:
Asia and the Middle East (incl. Turkey): +16.6% at €30.7 million.
France: +6.3% at €102.3 million.
Rest ofEurope, Russia & Africa: +4.8%, at €83.4 million.
North America: -5.6% at €60.4 million. This decline was entirely attributable to the negative impactof exchange rate fluctuations. On a like-for-like basis, sales increased by 8.9%.
South America: -22.1%at €3.4 million. The contribution of this geographical region is less and lesssignificant.
Net debt increased by €5.2 million compared with 31 December 2017 (it was €25.3 million at that date),largely as a result of capital expenditure, which remains high.
OBJECTIVES
In 2018, with the worldwide market set to remain favourable overall, MGI Coutier should benefit from new facilities entering production and see a positive impact on sales from the sites launched in 2017.
In light of the opportunities that new forms of mobility present, MGI Coutier aims to realise sales in theregion of €1.2 billion by 2020.
Next press release:Second-quarter 2018 sales on 26 July 2018 after the market close
Automotive component manufacturer MGI Coutier is active in two main product lines:
Fluids management and mechanisms.
The Group has more than 11,000 employees worldwide.
Euronext Paris - Segment B - ISIN: FR0000053027-Reuters: MGIP.PA - Bloomberg: MGIC
Contacts:
MGI Coutier
Jean-Louis Thomasset - Vice-Chairman of the Executive Board/CFO-Tel.: 04 50 56 99 25
Actus Lyon
Amalia Naveira-Marie-Claude Triquet-Analysts/Investors/Press relations-Tel.: 04 72 18 04 93 -anaveira@actus.fr-mctriquet@actus.fr
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MGI Coutier SA published this content on 14 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 May 2018 21:17:07 UTC