Anteuil, March 29th, 2019

Net sales Current operating income Net income Group share Equity
Group share		 Cashflow from  operating activities
+ 4.9 % 5.3% of sales 5.8 m€ + 9.0% 10.2 M€
+ 9.6 %
at CP & CER1		 i.e. 11.6 M€ i.e. 2.7 %
 of net sales 		  i.e. 67.8 m€  


In millions d’euros 2018 2017
Net sales 214.0 204.0
Ebitda 17.9 20.9
Current operating income 11.5 14.6
Operating income 11.4 14.6
Net income Group share 5.8 9.4
Cashflow from operating activities 10.2 8.2
Net financial debt 55.2 51.0
Equity 68.0 62.5

Net sales increased by 4.9 %, which represent + 9.6 % at constant perimeter and constant exchange rate.

Sales in the Automotive division, representing 80 % of the overall net sales, are up by 6.4 % (+ 11.4 % at CP & CER1). Global automotive growth for the same period went down by 1.0 %2.

Sales in the on-board networks protection activity are up by 0.5 % (+ 5.3 % at CP & CER1).

The activity of technical tubing for fluid transfer increased by 48.9 % (+ 54.5 % at CP & CER1).

The assembly services activity went up by + 1.6 % (+ 6.6 % at CP & CER1).

Sales in the specialty markets division, representing 20 % of the overall net sales, are stable (+ 2.9 % at CP & CER1).

DELFINGEN Industry generated a current operating income of 11.5 M€, i.e. 5.3 % of sales (7.1 % in 2017) as a result of the deterioration in the gross margin level of 2.0 pts in a context of strong tensions and volatility on raw material prices.

The financial result is - 3.2 M€ (- 5.0 M€ in 2017) affected by a negative effect of currency by - 0.4 M€.

The tax expense (2.6 M€) increased compared to the previous year. In 2017, the American tax reform had a positive impact of 2.0 M€. 

The net income is 5.8 M€ i.e. 2.7 % of sales, which dropped by 38 %.

The net financial debt is at 55.2 M€ on December, 31st, 2018, compared to 51 M€ on December, 31st, 2017 impacted by the decrease in profitability and the increase in working capital requirements. The Gearing is at 81 %.

In a context where the automotive production is expected to remain stable, and raw material prices would be in line with the actual levels, DELFINGEN Industry expects further growth of its net sales and its operational margin in 2019.

1 Constant perimeter and constant exchange rate
2 Source: IHS

DELFINGEN, a global automotive supplier and a leading manufacturer
of on-board networks protection solutions and fluid transfer tubing.

EURONEXT Growth Paris – ISIN Code: FR 0000054132 – Mnemonic: ALDEL
Next press release: 05/10/2019 – Net sales for 2019 1st quarter
Contact: Mr. Christophe Clerc: +33 (0)3.81.90.73.00

www.delfingen.com

Attachment

  • PR AR 2018