Manutan International : Turnover Q4 2018/2019

Gonesse, October 17^th 2019

MANUTAN GROUP
Turnover Q4 2018/2019 
A new year of growth for the whole fiscal year 2018/2019 (+4.4% compared to the fiscal year 2017/2018), marked by the solid organic growth strength and the acquisition of the Kruizinga Company in the Netherlands in July 2019.

In thousands of €	Turnover at the end of Sept. 2019	Turnover at the end of Sept. 2018	Q4 2019	Q4 2018	Q3 2019	Q3 2018	Q2 2019	Q2 2018	Q1 2019	Q1 2018
Turnover like-for-like	768 242	741 283	205 399	200 016	190 484	183 998	179 748	170 160	192 612	187 110
Contribution of acquired companies*	5 643	0	5 643	0	0	0	0	0	0	0
Total Turnover	773 885	741 283	211 042	200 016	190 484	183 998	179 748	170 160	192 612	187 110

*Acquisition of Kruizinga on June 14^th, 2019

Over the 2018/2019 fiscal year, the Manutan Group's Turnover amounted to € 773.9 million compared to € 741.3 million on September 30^th, 2018, an increase of +4.4% compared to 2017/2018 fiscal year  (+3.3% at like-for-like scope, constant exchange rates and number of working days, with a +0.8% scope effect, a -0.2% currency effect and a +0.5% day effect). Excluding the acquisition of Kruizinga, the Group's performance is at +3.6%.

During the fourth quarter of 2018/2019 fiscal year, the Manutan Group's business has grown by 5.5% compared to the same quarter last year, including a scope effect of +2.8%, a currency effect of -0.2% and a day effect of + 1.6% (+1.3% at like-for-like scope, constant exchange and number of working days). The turnover amounted to 211.0 million euros against 200.0 million euros for the fourth quarter of the previous fiscal year.

In terms of its operational areas¹, the Group’s situation is diverse :

In thousands of euros	Turnover at the end of Sept. 2019	Turnover at the end of Sept. 2018	Q4 2019	Q4 2018	Q3 2019	Q3 2018	Q2 2019	Q2 2018	Q1 2019	Q1 2018
Enterprises	573 296	546 561	139 363	129 380	139 039	136 373	150 229	141 723	144 665	139 085
North	38 892	41 293	7 874	9 073	9 664	10 514	10 488	10 658	10 867	11 048
Centre	126 482	118 150	33 880	28 247	29 012	29 086	32 713	31 182	30 877	29 634
Est	23 392	24 057	5 522	5 463	5 846	5 860	5 871	5 975	6 153	6 759
Soud	269 953	253 698	62 544	58 729	65 805	62 832	71 546	66 430	70 059	65 707
West	114 577	109 364	29 544	27 870	28 713	28 081	29 611	27 478	26 709	25 936
Local Authorities	200 589	194 721	71 679	70 635	51 445	47 625	29 519	28 437	47 947	48 025
South	200 589	194 721	71 679	70 635	51 445	47 625	29 519	28 437	47 947	48 025
TOTAL Group	773 885	741 283	211 042	200 016	190 484	183 998	179 748	170 160	192 612	187 110

At constant scope, exchange rates and number of working days	1st Quater	2nd Quater	3rd Quater	4th Quater	Financial Year
Enterprises	3.1%	7.1%	2.1%	2.1%	3.6%
North	2.8%	-0.1%	-3.2%	-12.0%	-2.8%
Centre	2.6%	6.5%	-1.2%	-1.6%	1.6%
Est	-9.0%	0.3%	1.7%	-2.2%	-2.6%
South	5.1%	9.3%	5.1%	4.8%	6.1%
West	2.1%	6.9%	0.9%	5.3%	3.7%
Local Authorities	-1.3%	5.5%	7.3%	-0.1%	2.6%
Sud	-1.3%	5.5%	7.3%	-0.1%	2.6%
TOTAL Goup	2.0%	6.9%	3.5%	1.3%	3.3%

      ·The Enterprises division growth in the fourth quarter (+2.1%) was driven up by the South and West areas. The North area is mainly affected by a slowdown in Sweden. The East area is impacted by the decline of the Czech Republic, linked to the automotive industry slowdown.

            In the Centre area, the decline in activity for the Netherlands, linked to a difficult macroeconomic context, is globally offset by the growth momentum in Belgium and Germany.

             

      ·The activity of the Local Authorities division remains stable in the fourth quarter, as a result of a good anticipation in deliveries in the previous quarter.

The acquisition of Kruizinga in June 2019 will allow the Group to enrich its products and services offer while strengthening its positions in the Benelux (Centre area) and on the e-commerce channel.

With a financial position that remains very sound and the ambition to sustain its profitable growth, the Group will continue to implement its development strategy, combining organic and external growth, while maintaining its investment plan in information systems and logistics.

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About the Manutan Group

A family-run business created in 1966. Manutan is Europe’s leading B2B e-commerce company and specializes in the multichannel distribution of products and equipment for businesses and local authorities.

Its vast range of select products and services is one of the largest offerings in Europe. This enables the company to meet all of its client’s needs and help them reduce their indirect purchase costs.

With 26 subsidiaries established in 17 countries in Europe, the Group has more than 2 200 employees and has a turnover of 741 million euros in 2017/2018. Manutan France was awarded Best Workplaces in 2019.

Manutan International is listed on Euronext Paris – Compartment B - ISIN: FR0000032302-MAN.

www.manutan.com

Next publication : Annual results 2018/2019
December, 3^rd 2019 (after market closure)

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¹ The analysis of the Group's performance by geographical area has been refined and contains an additional level of granularity: Enterprises and Local Authorities. This additional information will be included in our reports from now on.

Attachment

• Avis financier 3T2019_English VDEF 17.7.19