PRESS RELEASE
2018 FULL-YEAR RESULTS IN LINE WITH THE COMMUNICATION
OF NOVEMBER 2018
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Sales at current metal prices at 6.490 billion euros. Sales at constant metal prices1 stable at 4.409 billion euros2. for 2018. Organic growth negative (-0.8%)3
for the Group as a whole but positive (+4.2%) for the cable and wire activities4
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EBITDA5 of 325 million euros (compared with 411 million euros in 2017),
corresponding to operating margin of 188 million euros (272 million euros in
2017)
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Attributable net income of 14 million euros versus 125 million euros in 2017,
taking into account 53 million euros in restructuring costs and non-recurring real estate capital gains that were offset by asset impairment losses for an equivalent amount
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Operational cash flow of 153 million euros, compared with 277 million euros in
2017, mainly reflecting the decline in EBITDA. On the opposite, 149 million euro positive impact from the improvement in operating working capital
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Consolidated net debt of 330 million euros, similar to December 31, 2017
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Backlog for projects exceeds 1.25 billion euros as of December 31, 2018.
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Liquidity and long-term funding strengthened with a five-year bond issue of 325
million euros in August 2018 and the extension of the 600 million euro Revolving
Credit Facility until 2023. Redemption of the convertible bonds that matured on
January 2, 2019 for 275 million euros
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Recommended dividend of 0.30 euro per share
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