Strong operating performance 2015
Course set for profitable growth in 2016
Braas Monier has achieved a further significant improvement of its profitability in 2015. For the third consecutive year, the Company increased Operating EBITDA, Net income and Return on Invested Capital (ROIC), despite a challenging market development in Asia and uneven developments in the European countries. The strong performance was driven by further recovery in market share in almost all major European markets, value-accretive bolt-on acquisitions, strict management of fixed costs, lower interest expenses and financial discipline.
‘Based on the remarkable efforts of our 7,735 employees around the globe, we have again generated strong free cash flows in 2015 and used those proceeds to further strengthen our daily operations and to invest in future growth’, Pierre-Marie De Leener, CEO and Chairman of the Board of Braas Monier Building Group summarised. ‘We have continued to deliver on our strategic milestones to achieve above-market growth together with ensuring a high operating leverage in recovering markets.’
The strength of Braas Monier’s operating and financial performance in 2015 has enabled the Company to propose a significant dividend increase of 33% to EUR 0.40 per share to its shareholders. It is this strength in performance, despite many markets being on or close to historical lows, that gives us confidence in our continued ability to offer long-term attractive growth opportunities to our shareholders.
Braas Monier expects like-for-like revenues to increase in 2016 by 2% to 3%, driven by growth in European tile volumes. Average selling prices are expected to increase slightly to cover increasing input costs. On top, the first-time inclusion in full of acquisitions in Malaysia, Denmark and Italy is expected to provide another 2% to 3% of revenue growth and approximately 4% in Operating EBITDA growth.
The strong cash flows generated by the operating business will continue to allow the Group to achieve consistent and ambitious growth, both organically and through acquisitions, with an unerring focus on Return on Invested Capital while being ever mindful of the Group’s Net debt ratio and its dividend policy.
>>> Full Annual Report 2015
Director Group Communications / Investor Relations
Braas Monier Building Group
phone +49 6171 61 28 59