Resilux : Year Results 2016

Growth in core Resilux business : increase of volumes by 6% results in increase of Ebitda by 4.4% Extra net result of € 40 million as a result of sale of Airolux

Key figures 2016 compared with2015:

Turnover	€	293.7 million	(+1%)
Added value (*1)	€	74.5 million	(+3%)
Operating cash flow (EBITDA) (*1)	€	40.2 million	(+4%)
Depreciations and amortisations	€	14.4 million	(+1%)
Operating result (*1)	€	25.8 million	(+6%)
Financial result	€	-1.4 million	(+45%)
Net result after taxes (*1)	€	19.2 million	(+7%)
Profit before taxes	€	45.0 million	(+108%)
Profit before equity method	€	40.8 million	(+128%)
Net Profit after equity method	€	59.7 million	(+510%)
Net Cash	€	22.3 million

(*1) figures are excluding the income and expenses related to the sale of the share of the Joint Venture Airolux AG

Including income and expenses related to sale of shares JV Airolux

2016		2015
Key figures of the income statement	in 000 €	in 000 €	Evolution (%)
Turnover	293'667	291'559	0.7%
Operating revenues	326'015	295'579	10.3%
Added value (2)	95'109	72'523	31.1%
Operating cash flow - EBITDA (3)	60'819	38'468	58.1%
Depreciation and operational non-cash costs	-14'393	14'249	-201.0%
Operating result	46'426	24'219	91.7%
Financial result	-1'382	-2'536	45.5%
Result before taxes	45'044	21'683	107.7%
Taxes	-4'237	-3'817	11.0%
Net result, part of Group	40'807	17'866	128.4%
Net result after result based on the equity value	59'691	9'792	509.6%
Key figures of the the balance sheet	in 000 €	in 000 €	Evolution (%)
Equity	147'568	87'709	68.2%
Equity (incl. subordinated loans)	149'162	89'303	67.0%
Net financial debts (excl. subordinated loans) (4)	-22'319	33'154	-167.3%
Total assets and total liabilities	256'191	205'983	24.4%
Key figures per share	in €	in €	Evolution (%)
Operating cash flow - EBITDA (3)	30.71	19.42	58.1%
Operating result	23.44	12.23	91.7%
Net result, part of Group	20.61	9.02	128.4%
Net result after result based on the equity value	30.14	4.94	509.6%
Average number of shares	1'980'410	1'980'410
Key figures per share - diluted (5)	in €	in €	Evolution (%)
Operating cash flow - EBITDA (3)	30.04	19.00	58.1%
Operating result	22.93	11.96	91.7%
Net result, part of Group	20.15	8.82	128.4%
Net result after result based on the equity value	29.48	4.84	509.6%
Average number of shares	2'024'860	2'024'860

1. Figures are fully in conformity with IFRS-rules.

2. Revenues minus trade goods and raw materials minus services and other goods.

3. Operating profit plus depreciations and write offs of intangible and tangible assets, plus provisions for write offs in value relating to stocks.

4. Interest bearing financial obligations minus available funds and investments.

5. In 2013 44.450 warrants have been issued and attributed to members of the personnel

Excluding income and expenses related to sale of shares JV Airolux = Adjusted

2016		2015
Key figures of the income statement	in 000 €	in 000 €	Evolution (%)
Turnover	293'667	291'559	0.7%
Operating revenues - Adjusted	300'361	295'579	1.6%
Added value (1) - Adjusted	74'458	72'523	2.7%
Operating cash flow - EBITDA (2) - Adjusted	40'168	38'468	4.4%
Depreciation and operational non-cash costs	14'393	14'249	1.0%
Operating result - Adjusted	25'775	24'219	6.4%
Financial result	-1'382	-2'536	45.5%
Result before taxes - Adjusted	24'393	21'683	12.5%
Taxes - Adjusted	-5'219	-3'817	36.7%
Net result, part of Group - Adjusted	19'174	17'866	7.3%
Key figures per share	in €	in €	Evolution (%)
Operating cash flow - EBITDA (2) - Adjusted	20.28	19.42	4.4%
Operating result - Adjusted	13.01	12.23	6.4%
Net result, part of Group - Adjusted	9.68	9.02	7.3%
Average number of shares	1'980'410	1'980'410
Key figures per share - diluted (3)	in €	in €	Evolution (%)
Operating cash flow - EBITDA (2) - Adjusted	19.84	19.00	4.4%
Operating result - Adjusted	12.73	11.96	6.4%
Net result, part of Group - Adjusted	9.47	8.82	7.3%
Average number of shares	2'024'860	2'024'860

1. Revenues minus trade goods and raw materials minus services and other goods.

2. Operating profit plus depreciations and write offs of intangible and tangible assets, plus provisions for write offs in value relating to stocks.

3. In 2013 44.450 warrants have been issued and attributed to members of the personnel