26 March 2015
The Board of Directors' meeting which was held on 25 March 2015, approved the consolidated financial statements as at 31 December 2014. Auditing procedures have been completed and the audit report on consolidated financial statements is being issued.
€M | 2013 | % of the turnover | 2014 | % of the turnover | Variation 2014/2013 |
Turnover | 145.46 | 149.85 | +3.0% | ||
Including Professional Division | 92.68 | 96.78 | 4.4% | ||
Including Consumer Business Division | 52.78 | 53.07 | 0.6% | ||
Gross margin | 73.6% | 73.4% | |||
Including Professional Division | 75.7% | 75.7% | |||
Including Consumer Business Division | 61.0% | 59.6% | |||
Current operating income | 10.87 | 9.59 | 6.4% | -11.8% | |
Including Professional Division | 8.1 | 8.0 | |||
Including Consumer Business Division | 3.1 | 2.5 | |||
Operating income | 8.24 | 7.01 | -14.9% | ||
Net consolidated income | 5.86 | 4.0% | 2.86 | 1.9% | |
Group's portion | 5.83 | 2.83 | |||
Minority shareholders' portion | 0.03 | 0.03 | |||
Net income per share (in euros) | 2.44 | 1.18 |
In late October 2014, the Group acquired a majority interest of 85% in OMNITECH SECURITY, a French company that essentially designs and installs security systems on sites dedicated to the public. This transaction gave rise to the booking of a goodwill of € 2.7 M.
The consolidated turnover for 2014 has increased by 3% compared with 2013 and amounts to € 149.8 M, 64% of which was generated abroad. Excluding the scope effect brought by OMNITECH SECURITY, the growth amounts to 2.1%.
In comparison to financial year 2013, the turnover of the professional division has a similar scope and has booked a growth of 3%. The growth reaches 4.4% with OMNITECH SECURITY which is consolidated. Sales figures for the Consumer Business Division have increased by 0.6% versus the previous financial year.
The current operating income amounts to € 9.59 M, versus € 10.87 M in 2013 and the operating income is € 7.01 M versus
€ 8.24 M in 2013.
The net income amounts to € 2.86 M. It includes all the tax reassessments notified to the SECURIDEV GROUP, although the Group has challenged these reassessments. The impact of these reassessments on the net income is € 3 M, broken down as follows: € 0.5 M for the current income, € 1.2 M for interest and € 1.3 M for taxes.
€M | 31/12/2013 | 31/12/2014 | Variation 2014/2013 |
Non-current assets | 68.5 | 73.0 | +4.5 |
Current assets | 54.8 | 66.8 | +12.0 |
Inventories | 27.7 | 32.2 | +4.5 |
Accounts receivable | 23.5 | 26.0 | +2.5 |
Others | 3.6 | 8.6 | +5.0 |
Cash flow and cash flow equivalents | 33.7 | 23.2 | -10.5 |
Total, Balance sheet | 157.0 | 163.0 | +6.0 |
Equity | 81.5 | 78.3 | -3.2 |
Including Group's portion | 81.1 | 77.8 | -3.3 |
Non-current liabilities | 39.5 | 43.8 | +4.3 |
Long-term financial debt | 1.4 | 2.9 | +1.5 |
Provisions (pensions, etc.) | 38.1 | 40.9 | +2.8 |
Current liabilities | 36.0 | 40.8 | +4.8 |
Short-term financial debt | 1.2 | 2.0 | +0.8 |
Suppliers | 12.9 | 13.1 | +0.2 |
Others | 21.9 | 25.7 | +3.8 |
The Group' equity amounted to € 77.8 M as at 31 December 2014, versus € 81.1 M as at 31 December 2013.
The financial structure is still robust, the Group has a positive net cash flow of € 18.2 M which breaks down as follows:
€M | 31/12/2013 | 31/12/2014 | Variation 2014/2013 |
Financial debt (current and non-current) Cash flow and cash flow equivalents | -2.6 33.7 | -5.0 23.2 | -2.4 -10.5 |
Net cash flow | 31.1 | 18.2 | -12.9 |
Simplified consolidated cash flow statement:
€M | 31/12/2013 | 31/12/2014 | Variation 2014/2013 |
Flow related to operation Flow related with investment Flow related with financing | 15.5 -4.6 -4.3 | 1.8 -9.9 -2.6 | -13.7 -5.3 +1.7 |
Cash flow variation | 6.6 | -10.7 | -17.3 |
Self-financing capacity | 11.6 | 9.9 | -1.7 |
Prospects
The Group forecasts a turnover of € 155 M for financial year 2015.
2014 dividend
The Board of Directors will submit a net dividend of € 1.50 per share to the vote of the General Assembly which will meet
on 10 June 2015 in Paris.
Other information
The Board of Directors will propose to the General Assembly, which will meet on 12 June 2015 in Paris, to change the company's name, "SECURIDEV SA" to "DOM SECURITY", as part of the company's new internal organisation.
Consult the presentation of financial results as from 26 March 2015 on www.securidev.com
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