Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. Hunter Douglas N.V.
  6. News
  7. Summary
    HDG   ANN4327C1220

HUNTER DOUGLAS N.V.

(HDG)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Hunter Douglas N : HUNTER DOUGLAS RESULTATEN EERSTE HALFJAAR 2021

08/10/2021 | 04:21am EDT

Hunter Douglas N.V.

Piekstraat 2 3071 EL Rotterdam

Tel. +31 10 486 99 11

P.O. Box 5072 3008 AB Rotterdam

Fax +31 10 485 03 55

The Netherlands

www.hunterdouglasgroup.com

PRESS RELEASE

For publication: August 10, 2021

08.00 hrs

HUNTER DOUGLAS RESULTS FIRST HALF YEAR 2021

Rotterdam, August 10, 2021 - Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for the first half year 2021:

.

Sales: USD 2,243.6 million, 43.8% higher than USD 1,559.8 million in the first half of

2020.

The 43.8% sales increase reflects a 40.2% volume increase, a 4.2% positive currency

impact, a 0.4% increase from acquisitions and a 1.0% decrease from divestments.

Volume increased in all areas.

North America accounted for 51% of sales, Europe 40%, and Asia, Latin America and

Australia each 3%. Window Coverings were 94% and Architectural Products were 6% of

sales.

.

Earnings before interest, tax, depreciation and amortization - EBITDA:

USD 436.1 million, compared with USD 164.5 million in the first half of 2020.

.

Income from Operations (before other income/expense):

USD 357.6 million compared with USD 88.9 million in the first half of 2020. Results in

local currencies were higher in all areas.

.

Other income/expense: USD 9.9 million negative compared with USD 44.5 million

negative in the first half of 2020. The 2021 charges relate to the adjustment to the future

purchase prices of interests in partially owned companies, while the 2020 charges mainly

relate to reorganization expenses in North America and Europe.

.

Profit before Tax: USD 343.3 million compared with USD 39.3 million in the first half of

2020.

.

Total Net Profit: USD 262.5 million (per share EUR 6.27) compared with USD 28.5

million in the first half of 2020 (per share EUR 0.74).

Capital expenditures were USD 47.8 million compared with USD 31.6 million in the first half of 2020, while depreciation was USD 66.1 million compared with USD 64.2 million in the first half of 2020. For the full year capital expenditures are expected to be approximately USD 125 million and depreciation USD 130 million.

Operating cash flow: USD 200.8 million compared with USD 59.8 million in the first half of 2020.

Shareholder's equity was USD 2,191.7 million compared with USD 1,925.4 million at the end of 2020, reflecting the first half year results increased by a positive exchange translation.

RONAE (Return before interest/net assets employed) was 25.0% compared with 10.3% in the first half of 2020.

1

Hunter Douglas N.V.

2 Piekstraat 3071 EL Rotterdam

Tel. +31 10 486 99 11

P.O. Box 5072 3008 AB Rotterdam

Fax +31 10 485 03 55

The Netherlands

www.hunterdouglasgroup.com

Q2 2021

Q2 Sales: USD 1,191.4 million, 64.6% higher than USD 724.0 million in the same period of 2020. The increase reflects a 60.6% volume increase, a 5.1% positive currency impact, a 1.0% increase from acquisitions and a 2.1% decrease from divestments. Second quarter organic sales were higher in all areas and were exceptionally high particularly compared with last year's collapse during this period.

Q2 Earnings before interest, tax, depreciation and amortization - EBITDA:

USD 253.6 million compared with USD 76.4 million in Q2 2020.

Q2 Income from Operations (before other income/expense): USD 213.5 million compared with USD 39.3 million in Q2 2020. Results in local currencies were higher in all areas.

Other income/expense: USD 9.9 million negative compared with USD 44.5 million negative in the first half of 2020. The 2021 charges relate to the adjustment to the future purchase prices of interests in partially owned companies, while the 2020 charges mainly relate to reorganization expenses in North America and Europe.

Q2 Profit before Tax: USD 199.3 million positive compared with USD 9.1 million negative in Q2 2020.

Q2 Total Net Profit: USD 153.9 million positive (per share EUR 3.68) compared with USD 10.1 million negative in Q2 2020 (per share EUR -0.26).

First half year 2021 by Region

Europe

European sales were USD 894 million, 43% higher than USD 625 million in the same period last year. This reflects a 36% volume increase, a 8% positive currency impact, a 1% increase from acquisitions and a 2% decrease from divestments.

North America

North American sales increased by 46% to USD 1,144 million. The sales increase mainly reflects higher volume.

Latin America

Latin American sales were USD 58 million, 23% higher than USD 47 million in the same period last year. The sales increase reflects higher volume.

Asia

Asian sales increased by 47% to USD 72 million. The higher sales reflect a volume increase of 43% and a 4% positive currency impact.

Australia

Australian sales were USD 76 million, 33% higher than USD 57 million in the same period last year. The sales increase reflects a 18% volume increase and a 15% positive currency impact.

2

Hunter Douglas N.V.

2 Piekstraat 3071 EL Rotterdam

Tel. +31 10 486 99 11

P.O. Box 5072 3008 AB Rotterdam

Fax +31 10 485 03 55

The Netherlands

www.hunterdouglasgroup.com

The outlook is positive but there are uncertainties as to when the pattern of consumer discretionary spending will normalize, the development of COVID-19 and the impact of inflation on interest rates and the economies.

Hunter Douglas is in a strong position in terms of its brands, products, distribution and finances.

Profile Hunter Douglas

Hunter Douglas is the world market leader in window coverings and a major manufacturer of architectural products. The Company has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Group is comprised of 136 companies with 47 manufacturing and 89 assembly operations in more than 100 countries. Hunter Douglas employs about 23,500 people and had sales in 2020 of USD 3.5 billion.

The common shares of Hunter Douglas N.V. are traded on Amsterdam's Euronext and the Frankfurter Börse .

The consolidated first half year report, prepared in accordance with IAS 34, is available on our website www.hunterdouglasgroup.com.

For further information:

Leen Reijtenbagh

Chief Financial Officer

Tel. +31 10 486 9582

E-mail : l.reijtenbagh@hdnv.nl

Website: www.hunterdouglasgroup.com

A consolidated Statement of Income for the first half year and Q2 (Annex 1+2), Balance Sheet (Annex 3), Cash Flow Statement (Annex 4) and Sales change attribution percentages by geographic region for the first half year and Q2 (Annex 5) are attached.

3

Hunter Douglas N.V.

2 Piekstraat 3071 EL Rotterdam

Tel. +31 10 486 99 11

P.O. Box 5072 3008 AB Rotterdam

Fax +31 10 485 03 55

The Netherlands

www.hunterdouglasgroup.com

Annex 1

CONSOLIDATED STATEMENT OF INCOME

First half year ended June 30

(amounts in USD/mln)

2021

%

2020

%

Net sales

2,243.6

1,559.8

*

Cost of sales

-1,289.1

-937.9

*

Total gross profit

954.5

42.5

621.9

39.9

Expenses:

-Marketing, A & P and selling

-365.4

-313.8

-General and administrative

-153.0

-143.6

Subtotal expenses

-518.4

-457.4

EBITDA

436.1

19.4

164.5

10.5

Depreciation and amortization

-78.5

-75.6

Income from operations (before other income/expense)

357.6

15.9

88.9

5.7

Other income (expense)

-9.9

-44.5

Income from operations (after other income/expense)

347.7

15.5

44.4

2.8

Interest received

0.3

0.3

Interest paid

-5.5

-7.1

Other financial income

0.8

1.7

Income before taxes

343.3

39.3

Taxes on income

-80.7

-10.8

Profit before non-controlling interest

262.6

28.5

Non-controlling interest

-0.1

Total net profit

262.5

11.7

28.5

1.8

Net profit per average common share

7.54

0.82

Net profit per average common share - fully diluted

7.54

0.82

* restated for outgoing freight reclassification

4

Hunter Douglas N.V.

2 Piekstraat 3071 EL Rotterdam

Tel. +31 10 486 99 11

P.O. Box 5072 3008 AB Rotterdam

Fax +31 10 485 03 55

The Netherlands

www.hunterdouglasgroup.com

Annex 2

CONSOLIDATED STATEMENT OF INCOME

Q2 ended June 30

(amounts in USD/mln)

2021

%

2020

%

Net sales

1,191.4

724.0

*

Cost of sales

-672.2

-443.1

*

Total gross profit

519.2

43.6

280.9

38.8

Expenses:

-Marketing, A & P and selling

-184.7

-134.7

-General and administrative

-80.9

-69.8

Subtotal expenses

-265.6

-204.5

EBITDA

253.6

21.3

76.4

10.6

Depreciation and amortization

-40.1

-37.1

Income from operations (before other income/expense)

213.5

17.9

39.3

5.4

Other income (expense)

-9.9

-44.5

Income from operations (after other income/expense)

203.6

17.1

-5.2

-0.7

Interest received

0.2

0.1

Interest paid

-4.4

-4.6

Other financial (expense) income

-0.1

0.6

Income before taxes

199.3

-9.1

Taxes on income

-45.3

-1.0

Profit before non-controlling interest

154.0

-10.1

Non-controlling interest

-0.1

Total net profit

153.9

12.9

-10.1

-1.4

Net profit per average common share

4.42

-0.29

Net profit per average common share - fully diluted

4.42

-0.29

* restated for outgoing freight reclassification

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Hunter Douglas NV published this content on 10 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2021 08:21:05 UTC.


© Publicnow 2021
All news about HUNTER DOUGLAS N.V.
09/20HUNTER DOUGLAS N.V.(ENXTAM : HDG) added to S&P Global BMI Index
CI
08/10HUNTER DOUGLAS N : Hunter douglas resultaten eerste halfjaar 2021
PU
08/10Hunter Douglas N.V. Reports Earnings Results for the Second Quarter Ended June 30, 2021
CI
08/10HUNTER DOUGLAS N : results first half year 2021
PU
06/18HUNTER DOUGLAS N : Bergson Beheer Completes Offer for Hunter Douglas Shares, To Forgo Sque..
MT
06/18HUNTER DOUGLAS : Final results of offer; no squeeze-out
PU
06/08HUNTER DOUGLAS N : Denies Offer Price Increase In Bergson Takeover
MT
06/07HUNTER DOUGLAS N : offer price increase not permitted - Squeeze-out possible but uncertain
PU
06/04HUNTER DOUGLAS N.V.(ENXTAM : HDG) dropped from Netherlands ASCX AMS Small Cap Index
CI
06/03HUNTER DOUGLAS N : Bergson Declares Takeover Offer For Hunter Douglas Unconditional
MT
More news
Financials (USD)
Sales 2020 3 543 M - -
Net income 2020 116 M - -
Net Debt 2020 270 M - -
P/E ratio 2020 19,3x
Yield 2020 -
Capitalization 4 224 M 4 229 M -
EV / Sales 2019 0,78x
EV / Sales 2020 0,85x
Nbr of Employees 22 871
Free-Float 8,11%
Chart HUNTER DOUGLAS N.V.
Duration : Period :
Hunter Douglas N.V. Technical Analysis Chart | HDG | ANN4327C1220 | MarketScreener
Technical analysis trends HUNTER DOUGLAS N.V.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Managers and Directors
David H. Sonnenberg Co-President & Co-Chief Executive Officer
Marko H. Sonnenberg Co-President & Co-Chief Executive Officer
Leen Reijtenbagh Chief Financial Officer, Co-Secretary & VP
Ralph Sonnenberg Executive Chairman
Adrianus Nühn Chairman-Supervisory Board
Sector and Competitors