Key developments in the first quarter:
- 16% higher sales of which about 11% relates to favourable currency effects.- Gross margin percentage was stable.
- Considerably higher operating and net results.Holland Colours realised a 16% increase in sales in the first quarter of the 2015/2016 financial year versus the same period last year. Favourable currency effects, mainly from appreciation of the US dollar, explain about 11% of the sales increase.First quarter sales for the division Europe ended on a markedly higher level compared to last year with especially the Packaging market contributing, partly supported by a customer order that was spread over various quarters last year. Silicones & Elastomers, as well as Specialties also contributed positively while sales in Building & Construction decreased in comparison to last year.Sales for the division Americas, measured in USD, increased modestly compared to last year with all focus markets contributing except for Silicones & Elastomers.Sales for the division Asia, also measured in USD, decreased markedly versus last year. This decrease was shown in all focus markets except for Packaging.Gross margin percentage over the first quarter of 2015-2016 increased marginally over prior year’s first quarter.Operating costs were significantly higher compared to the first quarter 2014-2015, largely explained by currency effects.Holland Colours closed the first quarter with a considerably better operating result, mainly as a result of top line growth.The increase in operating working capital was limited versus prior year per the end of the first quarter and relates entirely to currency impact.Holland Colours does not provide an outlook for the full 2015/2016 financial year due to ongoing economic uncertainty in the markets the company operates in as well as the exchange-rate volatility (especially of the USD dollar).The semi-annual figures for 2015/2016 will be published on Thursday 29 October 2015.
