Auriga Industries A/S
Auriga, Strong start to the year – Interim report for Q1 2014

DGAP-News: Auriga Industries A/S /

15.05.2014 / 08:01

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Auriga Industries A/S, Harboøre, Denmark, 2014-05-15 08:01 CEST (GLOBE
NEWSWIRE) -- 



Company announcement no. 6/2014

May 15, 2014



Strong start to 2014

The revenue increased 9% to DKKm 1,826 corresponding to 14% organic growth
primarily driven by region Europe. A positive product mix improved the gross
margin leading to an increase in EBITDA of 23% when adjusting for the Stähler
Switzerland divestment in Q1 2013. The outlook for 2014 is maintained. 

  -- The organic growth of 14% was impacted by a negative currency development
     of 5 percentage points leading to a reported revenue increase of 9% to DKKm
     1,826.
  -- Growth was driven by region Europe that experienced an early start to the
     season shifting demand from Q2 to Q1 due to the mild European winter.
     However, a cold winter has delayed the season in North America.
  -- The gross profit improved 11% to DKKm 561, corresponding to a gross margin
     increase of 0.5 percentage points to 30.7%, driven by higher sales of
     differentiated and proprietary products with higher margins.
  -- When adjusting for the divestment of Stähler Switzerland in Q1 2013, EBITDA
     was up 23% corresponding to DKKm 49, but reported down 1% to DKKm 259. The
     EBITDA margin of 14.2% was up 1.6 percentage points when adjusting for the
     Stähler Switzerland divestment in Q1 last year, but down 1.4 percentage
     points reported.
  -- The free cash flow of DKKm -384 was in line with Q1 last year when
     adjusting for the effects of the Stähler Switzerland divestment and higher
     factoring/securitization in Q1 last year.
  -- The net working capital was reduced DKKm 153 to DKKm 2,490 primarily driven
     by increased payables, and the average working capital ratio improved 5.2
     percentage points to 36.2%.
  -- NIBD was reduced DKKm 151 to DKKm 1,962 compared to Q1 last year, leading
     to a reduction of NIBD/EBITDA to 2.4 compared to 3.2 at the end of Q1 last
     year.
  -- Auriga maintains the outlook of an organic sales growth of 8-10% and a
     reported revenue growth of 3-5%, an EBITDA margin above 13% and a positive
     free cash flow.



Conference call and audiocast

Thursday, May 15, 2014 at 10.00 CET
Call in on +45 70 25 67 00 or +44 208 817 9311 providing pass code 95825454#
Expected duration: approx. 1 hour


More information on the financial statements

CEO Jaime Gómez-Arnau +34 649 404 137
CFO René Schneider +45 40 80 99 50
IR Manager Lene Faurskov +45 41 64 05 04
investor@auriga.dk - www.auriga-industries.com





Facts about Auriga

Auriga Industries A/S is the listed parent company of Cheminova A/S, which is
the wholly owned operating company domiciled in Denmark. Cheminova is
developing, producing and marketing crop protection products. All activities
are carried out with due consideration for the environment and in compliance
with ever higher sustainability standards. The products are sold in more than
100 countries, and 98% of sales are generated outside Denmark. In 2013, the
group posted revenue of approx. DKK 6.6 billion and has more than 2,200
employees in a global organization with subsidiaries in 24 countries.
News Source: NASDAQ OMX


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Language:    English                
Company:     Auriga Industries A/S  
 
 
             Denmark                
ISIN:        DK0010233816           
 
 
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