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Braas Monier presents its Annual Report 2015

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

2016-03-31 / 08:57
The issuer is solely responsible for the content of this announcement.

Braas Monier presents its Annual Report 2015

- Strong operating performance 2015

- Operating EBITDA, Net income and ROIC increased for the third consecutive year

- Operating Cash Flow almost doubled to EUR 121.9 million (2014: EUR 65.4 million)

- Pro-forma net leverage of 1.7 times (Net debt / Operating EBITDA) well within the leverage target of 2.0 times or below

- Proposed dividend to increase by 33% to EUR 0.40 per share, underpinned by solid operational and financial performance

- Course set for profitable growth in 2016

- Overall improving market development expected, based on positive lead indicators for European new build and renovation business

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

- The Company will continue to evaluate further bolt-on acquisitions, especially in markets where above average growth is expected in the short to medium-term

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.

For the full Annual Report 2015 and further information on the Group, please visit our website at > Investor Relations > Reports & Presentations.

About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products in Europe, parts of Asia and South Africa. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs and is one of the few suppliers to also manufacture and sell complementary roofing components designed to cover various functional aspects of pitched roof constructions. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in 37 countries and
118 production facilities and employed around 7,735 people as of 31 December 2015. The Company is headquartered in Luxembourg.

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

Tel: +49 6171 61 28 59


2016-03-31 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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