Fluidra earns 39.2% more in the first semester and revises forecasts upwards
July 28, 2017Sales grew by 13.9% to reach 452.5 million euros and net profit rose to 34.1 million euros, 39.2% up on last year, thanks to the company’s greater volume of business and improved operations
The significant increase in business, especially in Spain, France and Australia, combined with improved operating leverage, saw EBITDA go up by 27.3% to reach 74.4 million euros, which broke all previous records
The executive president Eloi Planes announced that the targets set in the 2018 Strategic Plan have been met 18 months in advance and that the company has revised forecasts for the year upwards
Fluidra, the listed Spanish multinational group devoted to the development of applications for the sustainable use of water for Pools & Wellness, released its results today for the first semester of business year 2017, for which it announced and upward revision of targets having reported a high growth in sales, margins, liquidity and net profit.
In comparison with the sales in the first semester of 2017, sales soared by 13.9% to reach 452.5 million euros and EBITDA grew by 27.3% up to 74.4 million euros. Net profit went up from 24.5 million euros to 34.1 million, a new record for the company, all of which was the result of greater the volume of business and improved operations, despite the increase in financial expenses. As an added bonus, the level of financial debt fell by 9.6%.
The evolution of sales was positive in all international geographical areas, with a particularly noteworthy performance of the markets in France and Australia, as well as in Spain, which accounts for approximately 20% of Fluidra’s turnover.
In view of the performance in the first semester, the executive president Eloi Planes has upgraded the forecast for 2017: “We have met the sales and profit targets that we had set ourselves for the end of 2018 in the Strategic Plan 18 months in advance. Our revised forecast upwards estimates a turnover of between 775 and 790 million euros for this year, whilst EBITDA is expected to exceed 100 million euros for the first time in the company’s history.
This semester’s performance corroborates Fluidra’s strategy, which puts the focus on Pool & Wellness, making headway on all international markets by following proven best practices and placing special emphasis on the ongoing improvements to the rates of efficiency and profitability. Along these lines, the company has recently announced the acquisition of the Italian manufacturer of designer pools Laghetto.