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Mecalux turnover has increased an 11% during this first semester

20/08/2008

Mecalux experiences a strong growth during the year’s first semester registering an 11% turnover increase, going from 301 million Euro to 333.1 million Euro recorded for the present tax year. Its worth pointing out the effect of the Euro revaluation in regards to the dollar in relation to the contribution of the American market in the total amount of sales. Mecalux considers its success the result of: a stronger international presence, strong growth in Latin American and Eastern European markets together with a innovative approach as a differential value. The company plans to take over the American company UFC Interlake before the end of the year as a way to grow in this area and begin to consolidate itself in the Asian market with a productive plant in Shangai which could be operative in the year 2010.

Improvement of the Group’s profitability, more efficiency and benefits.
The company achieves more profitability by increasing its EBITDA in a 3% which represents 48.8 million Euros in contrast to the 47.6 million Euro of the previous year. On the other hand, the Group’s net benefit has experienced a 17% growth, increasing from 24.2 million Euro to 28.2 million recorded for this first semester 2008. Although, it must be highlighted that the Group has activated tax deductions in Poland obtained from investments carried out in this country. The profits before tax has increased a 1% going from 32 to 32.4 million Euro.

The company’s financial situation
On July 14th, 2008 a share capital enlargement was carried out allowing Caja Madrid a subscription with 20 % of the company. The paid out income rises up to 168 million Euro. Therefore, the net debt is of 5.5 million Euro and the self-owned funds reach 413.0 million Euro, recorded for June 30th 2008 proforma. In other words, this means the share capital extension of 168 million Euro had been effective before the closure of the year’s first semester. Based on the same criteria, the relation net debt/self-owned funds is of 0,01, whereas the net debt in relation to the Ebitda is of 0,11.

Growth and evolution in the different markets
Mecalux experienced a general growth in sales: a 2% increase in Southern Europe , a 75% increase in Central Europe, a 62% in MERCOSUR, and a 1% increase in North American markets.

Europe, 2% growth in Southern Europe and a 75% growth in Central Europe
In Southern Europe (Spain, France, Italy and Portugal) sales have increased a 2% during the year’s first semester, being France and Portugal those markets with a better evolution. The Group stays optimistic in regards to these market’s evolution since the orders to the Group have shown a 4% improvement compared to the same dates in 2007. In Central Europe, the Group´s sales have increased a 75%. This significant rise has caused its zone to represent 9% of the Group’s sales in comparison with the 5% representation registered on the previous year for the same term.

Nafta, a 1% growth
In the North American market the increase is represented by a 1%, although we must consider the effect of the euro revaluation over the dollar, which means the total number of sales represented in Euro is less. In local currency, growth in México represents a 50%. The situation in the United States is more complicated where a slight recession has been recorded. Currently the NAFTA area represents a 14% of the Group’s consolidated business.

MERCOSUR, 62% growth
The sales increase for this first semester represents a 62%. The most noticeable growth has been in Brazil with a 97% sales increase for this period in local currency. In Argentina, Mecalux holds its leadership and grows a 43% in local currency. On the other hand, Chile experiences a slight recession. MERCOSUR represents a 12% of the Group’s sales.

Logismarket, a new design with a multimedia approach and increase of visitors and company registrations.
Mecalux has recently redesigned its industrial directory Logismarket in order to allow the registered companies to offer multimedia images of their products and services. During the year’s first semester, access to the portal has increased by an 18% and has recorded more than 6 million visits during this first term. On the other hand, currently 3,500 companies offer their products and services through the portal, 14% more than the previous year. Logismarket has specific websites for Spain, Portugal, France, Italy, Germany, Benelux, Great Britain, Austria, Switzerland, Poland and Czech Republic, plus an international version available at www.logismarket.com. Logismarket is an industrial directory which creates a contact between companies developing in the logistic, storage, packaging and industrial equipment sectors with the sector-related sales managers, therefore making receiving quotations and complete information of the different services much easier.

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