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Sioen Industries: Operating result + 16% in 2010
07
Apr '11
Sioen Industries n.v., a producer of technical textiles, fine chemicals and high-tech protective clothing, announces today its annual results for 2010.

Financial results: Recovery and Growth
The Group recorded consolidated net sales from continuing operations of EUR 292.0 million, which means an increase of 15.9 % compared with last year, and realised a net result of EUR 18.1 million or 6.2 % of net sales. Net cash flow increased by EUR 5.6 million to EUR 24.3 million. EBITDA amounted to EUR 38.4 million (13.2 % of net sales). EBIT tripled to EUR 21.7 million (7.4 % of net sales).

Share: Growth and Profit
The company achieved an earnings per share of EUR 0.85. The Board of Directors will be proposing to the General Shareholders' Meeting of 29 April that the company declare a gross dividend of EUR 0.25 per share.

The Sioen Industries share price also continued its upward momentum in 2010, rising by more than 86 % on an annual basis. Compared with 31 December 2008, the Sioen share is up no less than 111 %.

Changes in the Board of Directors
Messrs W. Vandepoel and P. Bamelis have decided to tender their resignations. The Board of Directors will be proposing Mr J. Noten and Prof. P. Haspeslagh as new directors to the General Shareholders' Meeting.

Outlook
The internal growth drivers of our future are innovation and the successful launch of a number of recently developed products. We are also benefiting from the renewed economic dynamism in our markets. The pressure of raw materials prices and fierce competition in some low-end markets remain high, however. We will offset rising raw materials prices by efficiency improvements (both process and product) and by passing on these higher costs.

Sioen Industries is a diversified stock quoted group with an extensive portfolio of products and activities: spinning, weaving and coating, manufacturing of clothing, production of fine chemicals and processing of technical textiles. Vertical and horizontal integration, diversification and permanent growth have driven us since 1960.

Sioen Industries n.v.


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