19 May, 11:51
Rougier’s FY 2016 net sales accounted for Euro 149.4 million, compared to Euro 164.7 million in 2015, as the company said in the press release received by Lesprom Network.
2016 EBITDA was Euro 8.9 million, compared to Euro 12.1 million in 2015.
EBIT is negative, coming in at Euro (0.8) million, compared with a positive result of Euro 1 million last year. For 2016, it factors in Euro (1.6) million of write-downs for impairments of fixed assets in Cameroon; in 2015, Euro (1.5) million of write-downs were recorded on assets in Gabon. EBIT also includes a capital gain generated on the sale of a real estate asset in France for Euro 1.3 million.
In 2016, with lower levels of demand in key emerging countries, the Rougier Afrique International branch generated Euro 124.7 million of revenues, down 11.6% from 2015.
This contraction in business reflects the significant drop in export prices for certain timber species, while sales for international trade in Africa are down by just over one third. This contraction has affected the margins recorded, particularly in Cameroon and Congo.
The Import-Distribution France branch has continued to diversify its offering and its customer base. Its performances are reflected in Euro 29.3 million in revenues, up 5.1%, and a significant improvement in EBIT, which became slightly positive again for the full year.
Founded in 1923, the Rougier Group is a market leader for certified African tropical timber.