2023-10-27 17:00:08
Real time Euronext Paris 14:38:33 10/27/2023 Varia. 5d. Varia. Jan 1 EUR 14.60 0.00% 0.00% -17.05%
October 27, 2023 at 7:00 p.m.
ROUGIER: Results for the first half of 2023
Press release Paris, October 27, 2023 at 6:00 p.m. Results for the first half of 2023 Turnover: €50.1 million Current operating income: €2.9 million (i.e. 5.8% of turnover) Consolidated net profit: €2.2 million (i.e. 4.5% of turnover) Net financial debt at 58.2% of equity The Board of Directors of ROUGIER SA (ALRGR, ISIN code FR0000037640) met on October 26, 2023 examined and approved the unaudited accounts for the first half of 2023. With a turnover of €50.1 million and a consolidated net profit of €2.2 million, the half-year performance confirms ROUGIER’s ability to continue to recover its profitability. Confident in its fundamentals and its prospects, ROUGIER continues its development around its competitive strengths to strengthen its position in the responsible African wood market. Activity for the half-year The consolidated turnover for the first half of 2023 stood at €50.1 million, a level comparable to the first half of 2022 which was up +79% compared to the previous year. This change in sales mainly reflects the increase in forestry production in volume in Gabon (+2% compared to the previous year) and Congo (+72% compared to the previous year), the significant increase in industrial activity in Congo and the good performance of trading sales by Rougier Afrique International. These elements made it possible to offset the downward trend in selling prices since the start of the financial year. By product, the breakdown of ROUGIER’s consolidated turnover is as follows: As of December 31, H1 2023 (6 months) 2022 (12 months) €m % turnover €m % turnover Logs 21.6 43.1% 41.5 40.3% Sawn timber and derivatives 14.4 28.8% 29.2 28.3% Panels and derivatives 13.8 27.5% 31.8 30.9% Miscellaneous 0.3 0.6% 0.5 0 .5% Group annual turnover 50.1 103.0 * Unaudited Half-year results ROUGIER recorded good performance in its results with positive contributions from each of its activities. EBITDA (current operating income before depreciation and provisions) stands at €8.4 million, or 16.8% of 2023 half-year turnover compared to 15.1% of 2022 annual turnover. This development is mainly explained by the improvement in the gross margin rate and the control of variable costs (energy and transport in particular) in a context of stable fixed costs. After taking into account depreciation and provisions for (5.5) M€, current operating profit amounts to 2.9 M€, and represents 5.8% of half-yearly turnover, compared to 5.3% for the entire 2022 financial year. Operating profit amounted to €3.0 million, or 5.9% of half-yearly turnover, compared to 9.2% for the entire 2022 financial year. that in 2022, the operating profit for the year took into account a reversal of depreciation on Gabon’s assets for an amount of €3.8 million. Net income stood at €2.2 million (€1.5 million Group share), including a cost of net financial debt of (0.3) million euros and a tax charge of 0 .4 M€. Financial structure After taking into account the result for the half-year, consolidated shareholders’ equity increased by €2.2 million compared to December 31, 2022 to stand at €18.2 million. Consolidated net financial debt remains under control and amounts to €10.6 million as of June 30, 2023, compared to €9.1 million as of December 31, 2022. It represents 58.2% of shareholders’ equity compared to 55.5% as of December 31, 2022. December 2022 and 143.0% as of December 31, 2021. Summary of results and balance sheet In €m Consolidated data H1 2023 (6 months) 2022 (12 months) Income statement items Turnover 50.1 103.0 EBITDA 8.4 15.6 In % turnover 16.8% 15.1% Current operating profit 2.9 5.5 In % turnover 5.8% 5.3% Operating profit 3.0 9.5 In % turnover 5, 9% 9.2% Net income 2.2 8.0 In % turnover 4.5% 7.8% Net income Group share 1.5 5.8 In % turnover 3.0% 5.7% Balance sheet items Equity 18.2 16.0 Gross financial debt 13.9 14.5 Cash and cash equivalents 3.3 5.4 Post-closing event The current situation in Gabon creates a climate of waiting in business. Social movements have been triggered in certain companies in the country. The transitional authorities have taken stock of the economic challenges and are doing their utmost to restore a peaceful climate. Outlook ROUGIER is continuing its strategy focused on the development of sustainable and certified exploitation of natural forests in Gabon and the Republic of Congo, as well as the industrial processing and international marketing of African tropical timber on international markets demanding in terms of environmental responsibility . This strategy allows it to support the growth of its profitable activities in a slowing commercial context in the second half of 2023. Confident in its prospects, ROUGIER is part of a strong environmental responsibility approach and remains a major player in the wood sector considered to be engine of growth for the economy of Central Africa. Availability of the half-yearly financial report The 2023 half-yearly financial report is available for download in the Finance / Publications section of the site www.rougier.fr. About ROUGIER Founded in 1923, the ROUGIER Group is a leader in responsible African wood. Present in Central Africa (Gabon and Republic of Congo), it operates in the management of 100% responsible natural forests certified by independent international labels, in industrial processing and in international trade. Isin: FR0000037640 – ALRGR www.rougier.fr Contact Cyril Combe [email protected] Tel. : +33 (0)1 53 65 68 68
ROUGIER: Results for the first half of 2023
Company Name
ROUGIER SA
Disclaimer
Rougier SA published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 16:58:25 UTC.
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Rougier is a leader in certified African tropical timber. The group operates in the exploitation of natural forests in Central Africa (Gabon and Republic of Congo), in industrial processing and in international timber trade. Turnover by product family is broken down as follows: – logs (40.5%); – panels and derived products (31%); – sawn timber and derived products (28.5%); – others (0.5%). The geographical distribution of turnover is as follows: Europe (48%), Sub-Saharan Africa (38.4%), Asia (8.9%), Americas and Pacific (4.4%), Middle East and North Africa (0). .3%).
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