Mersen: Strong growth in sales and results in the first half of 2018
Mersen: Strong growth in sales and results in the first half of 2018
- Robust like-for-like growth in sales for the first six months (+11%)
- Strong increase in operating margin before non-recurring items: 10.6% vs 8.8% in H1 2017
- Increase of more than 50% in net income
- Full-year guidance raised
Paris, July 30, 2018 - Mersen (Euronext FR0000039620 – MRN), a global expert in electrical power and advanced materials, has released its sales figures for the second quarter of 2018 and interim results for the period ended June 30, 2018.
“Our results for first-half 2018 are very satisfactory. Our positioning in fast-growing markets and the commitment of our teams has driven a sharp increase in our consolidated sales and double-digit organic growth, and the operational efficiency plan set in place two years ago has led to a significant improvement in our margins. We have also undertaken several acquisitions in recent months that strengthen our position in power electronics, one of our core markets. I would like to warmly thank each and every employee for their contribution to this performance," said Luc Themelin, Chief Executive Officer of Mersen
First-half financial highlights1
| In millions of euros | H1 2018 | H1 2017 restated1 | Change |
| Consolidated sales | 430 | 409 | +5.2% |
| Operating incone before non-recurring items | 45.8 | 36.0 | +27.2% |
| Operating margin before non-recurring items | 10.6% | 8.8% | +180 bp |
| EBITDA | 64.4 | 54.8 | +17.5% |
| Net income | 29.3 | 19.1 | +53.4% |
| Net cash generated by operating activities | 17.9 | 15.2 | +17.8% |
| Net debt | 205 | 197 | |
| Net debt to EBITDA ratio | 1.5 | 1.8 |
1 See glossary and appendix