Hunter Douglas’ profit and revenue pressure
Thursday, 11 March 2021 8:18 am
(ABM FN-Dow Jones) Hunter Douglas saw revenue and sales under pressure in 2020, partly as a result of the Corona crisis. It appeared from the Luxoflex manufacturer’s quarterly update on Thursday.
Last year, sales were down 3.9 percent to $ 3.5 billion, down 4.6 percent, and the negative exchange rate effect was 0.4 percent. Revenue rose 15.8 percent to $ 1.1 billion in the fourth quarter.
Blocks were under pressure in all regions last year, with the exception of sales in Australia. Operating Outcome (EPIDTA) for 2015 was up 5.4 percent to $ 530.7 million.
A total of $ 189.4 million in fees put pressure on the results. A year ago, revenue was still $ 4.5 million. By 2020, Hunter Douglas had $ 65.2 million in restoration costs, mainly in North America and Europe.
It had a profit of $ 116 million in 2019 compared to just $ 278 million. $ 49.7 million was contributed in the fourth quarter. In the fourth quarter of 2019, profit was recorded at $ 88.6 million.
In 2019, $ 74 million was invested compared to $ 125 million. Cash flow from operations was $ 532 million, up from $ 546 million in 2019.
The shareholders’ stake is worth more than $ 1.9 billion. In 2019 it was still $ 1.8 billion.
Hunter Douglas did not propose a dividend for 2020.
Hunter Douglas did not provide a definitive outlook for the entire fiscal year because the development of the corona crisis continues to play a role. “But once it gets under control, the outlook is cautiously optimistic,” the company said.
This may be the last time Hunter Douglas as a listed company will release annual figures.
Leading shareholder Ralph Sonnenberg recently offered an offer that he does not yet own shares in Hunter Douglas. He is willing to pay 64 64.00 per share.
The stock closed at 65.60 euros on Wednesday.
ABM Financial News; [email protected]; Redactie: +31 (0) 20 26 28 999.