Sanitec Corporation: Sanitec Corporation’s Interim Report January - June 2014: Favourable position

HELSINKI, Finland--()--Regulatory News:

Helsinki, 18 July 2014, 08:00 CET/ 09:00 EET

Second quarter 2014 in brief

  • Net sales for the second quarter amounted to EUR 175.4 million (182.2). Comparable net sales for the second quarter were 1.1% lower than prior year1).
  • Operating profit for the second quarter amounted to EUR 19.8 million (19.7), 11.3% (10.8) of net sales.
  • Profit for the second quarter amounted to EUR 3.3 million (13.0), affected by one-off refinancing costs of EUR 10.6 million.
  • Earnings per share, basic and diluted, were EUR 0.03 (0.13).
  • Cash flow from operating activities for the second quarter amounted to EUR 25.9 million (17.2).
  • As of 13 June 2014 Sanitec redeemed and delisted the Senior Secured Floating Rate Notes with the amount of EUR 250 million from the Luxembourg Stock Exchange after implementation of a new financing structure.

January – June 2014 in brief

  • Net sales for the period amounted to EUR 359.0 million (358.9). Comparable net sales for the period were 2.1% higher than prior year1).
  • Operating profit for the period amounted to EUR 39.3 million (33.2), 10.9% (9.3) of net sales.
  • Profit for the period amounted to EUR 14.8 million (23.1).
  • Earnings per share, basic and diluted, were EUR 0.15 (0.23).
  • Cash flow from operating activities for the period amounted to EUR 13.1 million (4.1).

1) Calculated in comparable legal structure and constant currency, i.e. organic change

Please click the attached pdf document or visit www.sanitec.com (Investors>Reports) to download Sanitec's Interim Report January – June 2014 in English or in Swedish.

About Sanitec – “Home of the Bathroom”

Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.

Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ OMX Stockholm under the symbol “SNTC”.

For more information about Sanitec, please visit www.sanitec.com.

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Contacts

For additional information, please contact:
Niklas Alm
Head of Investor Relations
ir@sanitec.com
mob. 46 76 855 7836
or
Noora Koikkalainen
Head of Corporate Communications
sanitec.corporation@sanitec.com
tel. 358 10 662 5426

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Contacts

For additional information, please contact:
Niklas Alm
Head of Investor Relations
ir@sanitec.com
mob. 46 76 855 7836
or
Noora Koikkalainen
Head of Corporate Communications
sanitec.corporation@sanitec.com
tel. 358 10 662 5426