Gascogne Group reports sales of Euro 102.9 million in 4Q

Mar 01, 2013. /Lesprom Network/. In an economic climate that is still difficult and following three consecutive quarters of downward trends, Gascogne Group achieved sales of Euro 102.9 million in the 4Q 2012, a level that was virtually stable in relation to the same period in 2011, as the company said in a press release received by Lesprom Network. This performance enabled the Group to achieve sales of Euro 418.9 million for the financial year as a whole, down -2.4%. This fall is primarily attributable to the Wood division, which is particularly affected by the economic situation this year, and the Laminates division, which is being affected by the uncertainties concerning its future. The Sacks and Paper divisions enjoyed a robust year, confirming their ability to maintain their respective market shares. In the 4Q, the Wood division once again enjoyed growth (+3.2%), after four quarters of contraction. This trend reversal in the 4Q is based on market share won in the decoration segment, thanks to the dynamic commercial approach adopted in recent months. Paper division saw a drop of -4.6% in the 4Q, mainly owing to an unfavourable calendar at the end of the year. The good results during the first 9 months however meant that annual sales reached Euro 101 million, slightly up by +0.4%, despite the scheduled plant shutdown for two weeks in April 2012. After a gloomy 3Q, Sacks division enjoyed a good 4Q, with sales of Euro 30.5 million, up +4.7%. The Group in particular benefited from business still concentrated on pet food sacks. This quarterly performance was able to make up for some of the setbacks of the previous quarters, with the division ending the financial year with sales of Euro 121.3 million, virtually the same as in 2011. Laminates (continuing operations) division's 4Q was comparable to the first 9 months of the financial year, with business down by -4%. Gascogne in particular noted that its customers had adopted a wait-and-see attitude, which should gradually change following the decision to actively pursue the development of this business within the Group. The division thus aims to achieve a rapid return to growth, in particular through the successful February launch of its new production line for silicon paper and film on the Dax site, thanks to capital expenditure of Euro12 million. This new equipment gives it the capacity and the technological edge it needs to achieve growth on the composites market for the aeronautical, medical, technical adhesive tape and graphic arts markets. Gascogne group is the only French player fully integrated throughout the entire chain of the wood-paper-conversion sector. It has four complementary divisions: Gascogne produces wood products, natural machine glazed kraft paper, industrial and consumer sacks and laminates for packaging and protection applications.