Deceuninck, one of the world’s leading PVC-U Systems Companies, has released its 2015 annual report, reporting strong growth in all regions except Russia. Growth is driven by successful integration of Pimapen (in Turkey), new customers and improved operational efficiencies.
Consolidated 2015 group sales increased 16.6% to €644.5 million (€552.8 million in 2014). Gross margin increased to 28.2% (2014: 27.3%) mainly due to operational efficiencies. EBITDA increased 54% to €54.4m and net profit by 27% to €13.3m.
Capital expenditures also increased to €38.7m in 2015 (2014: €31.3m).
In the report Tom Debusschere, Deceuninck CEO says: "2015 was a good year for Deceuninck. We realised strong organic volume growth in Western Europe, North America, and Turkey and Emerging Markets, and successfully integrated the Pimaş acquisition in Turkey. On top of volume growth EBITDA margin also benefited from further manufacturing efficiencies and strict cost control. The successful issue of the retail bond in December provided us with extra €40m liquidity which will be used to finance further growth.”
CEO Tom Debusschere steps down 1st March to take up a new challenge after a very successful seven years. Chairman Pierre Alain Baron De Smedt explains: “In February 2009 he started as CEO when the company was going through a difficult period. In a short period of time he succeeded in turning Deceuninck into a financially healthy company and in regaining the confidence of shareholders. He leaves us with a healthy company that is well positioned for the future.”
Tom created the growth strategy which will continue to be implemented unabated. He remains a non-executive member of the Board until 10th May. Francis Van Eeckhout Vice Chairman is named interim CEO while a new CEO is recruited.
Deceuninck UK Managing Director, Roy Frost, adds: “These are great results, to which the UK has contributed with ‘continued strong growth’ from existing and new customers. Their growth is supported directly by our Customer First strategy. We’ve invested to help customers grow, knowing that if they grow so do we. Last year our strong double digit growth was in a market around 8% down, and we and our customers continue to take share from competitors. We reported a series of record breaking months in the last six months.
“In 2015 we invested in a new best-in-class sliding patio Slider24, a new best-in-class FRW (Fully Reversible Window), and 26 colours-in-stock with matching trims, cills and ancillaries for our pretty windows and doors. We opened a vast modern warehouse to carry all this stock of colours to maintain our excellent always-in-stock service. We invested in more people, and in MyBrand, the ultimate in tailored marketing to help customers continue growing.
“We expect further strong growth in 2016 on the back of innovative product launches and the development of existing initiatives and strategy,” Roy confirms.
To find out how Deceuninck can help you build your brand and grow your business call Roy Frost, Deceuninck UK Managing Director, on 07808 365234.
… See the full annual report corporate press release online: