Steinhoff International Holdings N.V. in liquidatie
Steinhoff International Holdings N.V. : Steinhoff delivers a solid set of results for the twelve months ending 30 June 2016
DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Media Release 7 September 2016 Steinhoff delivers a solid set of results for the twelve months ending 30 June 2016 – Revenue growth of 33% to EUR13.1bn – Operating profit increased by 32% to EUR1.5bn – Continues expansion into complementary businesses Amsterdam, The Netherlands, 7 September 2016 – Steinhoff International Holdings N.V. (“Steinhoff”) today announced its financial results for the period ended 30 June 2016. The resilience of the discount market continues to underpin good organic growth. The company reported a 33% growth in revenue to EUR13.1bn, while operating profit improved by 32% to EUR1.5bn, supported by continued market share gains in strategic product categories. The group earned 73% of its operating profit in Europe, while 25% of operating profit was earned in Africa and 2% in Australasia. From an equity perspective, the diluted average number of shares in issue increased by 25% compared to the prior year, mainly as a result of the general merchandise business acquired in March 2015. Diluted adjusted earnings per share of 29.5 cents per share, was only 3% lower than the comparative period, despite the 25% increase in the average number of shares in issue and a 17% devaluation in the South African rand. Consistent growth Revenue of the Household goods retail segment increased by 10% to EUR8.4bn, and operating profit rose by 14% to EUR1.1bn. The improved margin can be attributed to the continued growth in the scale of the group combined with its vertical integration capability, and synergies resulting from its central logistics and sourcing divisions. The core household goods segment improved margins by more than 50 bps for the third consecutive financial year. All regions in the General merchandise retail segment remained focused on growth, with a total of 579 stores being added to the portfolio for the 12-month period. South Africa remains the largest territory for the segment, with approximately 64% of revenues earned in the African region. The 17% devaluation of the South African rand during the period under review impacted growth expressed in euros. Notwithstanding, revenue increased to EUR3.5bn, and operating profit increased by 12% to EUR349m when compared to the previous period. The Automotive division performed well, increasing revenue in constant currency terms by 9%, supported by like-for-like sales growth of 6%. Markus Jooste, CEO of Steinhoff, said: “Steinhoff continues to see opportunities for growth within our key markets in the territories where the group operates. Gains resulting from the vertical integration strategy and effective group supply chains continue to support operating margin growth and we remain confident in our ability to keep prices to consumers low.” The group continues to build scale and vertical integration capacity During the period under review the group evaluated many corporate transactions that would complement and further strengthen group operations, increase retail market share and improve the group’s ability to influence price and affordability through building efficiencies and capacity in existing supply chains. As a result, Steinhoff has invested in strategic partners to the European supply chain focused on the key product categories such as bedding and kitchen manufacturing. Further to this, the group has gained board recommendations, and awaits shareholder and regulatory approvals on the formal offer to buy the Poundland retail business in the United Kingdom and the Mattress Firm retail business in the United States of America. The Mattress Firm investment will create the world’s largest multi-brand mattress retail distribution network and facilitates Steinhoff’s entry into the United States. Outlook The resilience of the discount markets in which Steinhoff operates, together with Steinhoff’s established market position and expansion strategy in Europe and the continued sales momentum in Africa is expected to underpin good growth. Additional information Additional information and the financial report are available in English via the company’s website: www.steinhoffinternational.com. A link to the webcast for analysts and investors today at 11:00 CET is available on the company’s website. Media contact Mariza Nel Phone: +27 21 808 0700 About Steinhoff International Holdings N.V. Steinhoff is an integrated retailer that retails, sources and manufactures household goods and general merchandise in the United Kingdom, Europe, Africa and Australasia. Retail operations are positioned towards price conscious (value) consumer segments, providing them with affordable products through a vertically integrated supply chain. Our integrated retail divisions comprise: – Household goods (furniture and homeware retail businesses) – General merchandise focusing on clothing and footwear, accessories and homeware – Automotive dealerships in South Africa which provide a broad range of new and pre-owned vehicles, parts, insurance, accessories and servicing The Steinhoff Group’s property portfolio remains a key strategic component in securing a relevant infrastructure and store network for its integrated retail businesses. Steinhoff has a primary listing on the Frankfurt Stock Exchange and a secondary listing on the Johannesburg Stock Exchange, and has a current market capitalisation of approximately
2016-09-07 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | Steinhoff International Holdings N.V. | |
Herengracht 466 | ||
1017 CA Amsterdam | ||
Netherlands | ||
Phone: | +27218080700 | |
Fax: | +27218080800 | |
E-mail: | investors@steinhoffinternational.com | |
Internet: | www.steinhoffinternational.com | |
ISIN: | NL0011375019 | |
WKN: | A14XB9 | |
Indices: | MDAX | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange | |
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