Lyon, 29 July 2015
Net sales (€ thousands) | 2015 | 2014 | Change (%) |
First quarter Second quarter | 58,905 54,572 | 52,553 50,856 | +12.1% +7.3% |
First half | 113,477 | 103,408 | +9.7% |
First half by division: Asia Export Europe Home Undergarments | 44,731 58,512 10,234 | 33,611 58,405 11,392 | +33.1% +0.2% -10.2% |
U10 registered very good growth of 9.7% in the first halfwith sales of €113.5 million, up from
€103.4 million in 2014 (+1.7% in constant dollars).
Second quarter sales rose 7.3% to €54.6 million, up from €50.9 million in 2014 (-1.8% in constant dollars).
In Asia: U10 Group's Asian company exported€44.7 million in H1 2015,up +33%.Excluding the favourable impact of the euro/dollar exchange rate, the development of this structure was confirmed: sales, invoiced almost entirely in US dollars,grew 8.4%.
In Europe: U10 showedresilience to the euro's significant decline in relative to the dollar and was successful inmaking rapid adjustments to collections to maintain the balance between competitiveness and profitability. These adjustments to the offering temporarily slowed the pace of growth expected in Europe though sales forHome segment remained steady in relation to N-1 (+0.2% to€58.5 million). OutlookIn Asia: continuing growth by this division since the end of 2013 has confirmed the potential of this business model.
In Europe: in the first half, the division had to absorb the increase in its cost prices resulting from the euro's significant decline. The adjustment to its prices and new collections was carried out only on 1
July. The first half will in consequence be exceptionally impacted by a significant decline in operating income.
However, with this period of turbulence and transition now largely over, the book of orders for the Home division is once again on the rise which should rapidly result in visible growth combined with
profitability more in line with normal levels.
The dividend of €0.21 per share voted by the annual general meeting of 20 May 2015 will be payable on
14 September (ex-dividend date of 10 September).
Euroclear: 7914 - ISIN FR0000079147
Contact: Next financial press release:Patricia Michel - Finance Manager2015 half year results
Tel: +33 (0)4 37 64 47 85 2 September 2015 after the close of trading
finances@u10.fr
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