Operating results do not benefit accordingly
Hooglede-Gits, 19 August 2004. – Group Deceuninck, a worldwide leading manufacturer of PVC window systems and profiles for the construction industry, announces today that its turnover during the first half of this year following consolidation of Thyssen Polymer increased by 64% to 280.7 million euro. Remarkably, internal growth in both Deceuninck and Thyssen Polymer climbed by more than 12%. One-off strategic and restructuring costs, as well as a sharp rise in raw materials prices and a slow start following the harsh winter period in the United States did not allow the operating result (16.9 million euro) to benefit accordingly from the same positive trend. Deceuninck now expects a fall in EBIT for 2004 by 15 to 20%.
The organic growth recorded by Deceuninck in the first half of this year was never so substantial in the last decade. It continued to exceed expectations both in Deceuninck and Thyssen Polymer at more than 12% despite the fall in the volume sold in the United States.