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BRAAS MONIER presents its Annual Report 2014

Braas Monier Building Group S.A. / Key word(s): Final Results

2015-03-31 / 09:14

BRAAS MONIER presents its Annual Report 2014

- Excellent operating performance 2014

- Significant increase in Operating EBITDA by 23.3% to EUR 195.4 million

- Strong EBITDA margin improvement from 13.0% to 16.1%

- Positive Net Profit of EUR 39.8 million, an increase of more than EUR 100 million
against 2013

- Adjusted Free Cash Flow of EUR 89.0 million before one-time effects of EUR 69.4 million

- Net debt to Operating EBITDA ratio continues to decline to 1.7x (prior year: 2.8x)

- Dividend to be initiated at EUR 0.30 per share, underpinned by solid operational and financial performance

- Course set for healthy growth in 2015

- Overall positive market development expected

- 'Top Line Growth' programme continues to aim for above-market growth and build on the successes of the past year

- First-time inclusion of value-accretive acquisition in Spain and Portugal, validating our strategy to make bolt-on acquisitions, rounding out and strengthening our portfolio, especially in markets where above average growth is expected

- Programme on process excellence launched to support high operational leverage, which will drive a substantial improvement in profitability once markets recover

'For many reasons, 2014 has been a remarkable year for Braas Monier. We have shown an outstanding operating performance, significantly improved our financial structure on the debt as well as on the equity side and, what is more, we have set the course for further above-market growth in the future, by continuing to execute successfully our Top Line Growth programme. The acquisition of Cobert and the promising product innovation 'WrapTec' are good examples that we continue to deliver on our strategic milestones,' Pepyn Dinandt, CEO of Braas Monier Building Group S.A. summarised.

The strength of Braas Monier's operating and financial performance in 2014 has enabled the Company to already propose its first and substantial dividend of EUR 0.30 per share to its shareholders. It is this strength in performance, despite many markets being on a historical low, that gives us confidence in our continued ability to offer long-term attractive growth opportunities to our shareholders.

For 2015, Braas Monier expects revenues to grow by a mid-single-digit percentage figure, driven by growth in volumes and the first time inclusion of Cobert. Average selling price increases are expected to at least offset variable cost inflation. Currency effects will possibly have a marginal positive effect on revenues.

From a cost perspective, management expects slight increases in input costs (raw materials and wage inflation). The currently low energy prices might have the potential to ease some variable cost inflation if they were to stay at these levels throughout the year. Revenue growth together with an on going focus on strict cost control at all levels will further drive growth in the Company's profits.

For the full Annual Report 2014 and other information on the Group, see the Investor Relations section on our website > Investor Relations > Publications.

About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs in Europe, parts of Asia and South Africa. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in
35 countries and 108 production facilities and employed around 7,300 people as at
31 December 2014. The Company is headquartered in Luxembourg.

Braas Monier Building Group shares were included in the SDAX, the Index for Small Caps of the Deutsche Börse AG, with effect from 22 September 2014.

Achim Schreck
Director Group Communications / Investor Relations
Braas Monier Building Group

Tel: +49 6171 61 28 59

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