(in € millions) | 2011 | 2010 | total growth | organic growth |
Advanced Materials and Technologies | 379.6 | 324.8 | 16.9% | 15.2% |
Electrical Components and Technologies | 450.0 | 416.4 | 8.1% | 7.2% |
Group total | 829.6 | 741.2 | 11.9% | 10.7% |
Europe | 310.6 | 281.6 | 10.3% | 7.5% |
Asia-Pacific | 214.0 | 178.7 | 19.7% | 13.4% |
North America | 263.4 | 236.9 | 11.2% | 15.8% |
Rest of the world | 41.6 | 44.0 | -5.4% | -6.7% |
Group total | 829.6 | 741.2 | 11.9% | 10.7% |
The Advanced Materials and Technologies segment's sales
posted organic growth of 15.2%
during the year, beating the rate achieved in 2010:
- Solar energy sales recorded strong growth across the Group to reach €110 million or c.
13.5% of the Group's total sales,
- Business trends were brisk in process
industries across all the Group's geographical regions,
- Trends in the chemicals/pharmaceuticals market
showed strong growth, mainly in
North America.
Sales growth in the Electrical Components and Technologies
segment ran at 7.2% during the year, following on from
organic growth of 12% in 2010:
- In electronics and transportation, growth was
vibrant across all geographical regions.
- In the energy market, wind energy sales were
boosted by the momentum of the replacement market in Europe
and North America,
- In process industries, growth was relatively
weak over the year as a whole, with a slowdown during the
second half.
1 Unaudited figures
1/3 Paris, January 24, 2011Growth was stronger in North America (32% of Group sales) and in Asia (26% of Group sales), with both regions getting a boost from the momentum of all the market segments, particularly solar energy. Europe recorded weaker growth due to the first signs of a slowdown in sales in process industries during the second half.
During the fourth quarter, sales came to € 202.4 mlilion, representing an increase of 1.3% on a like-for-like basis. On a reported basis, change ran at -3.9% owing mainly to the negative net impact of over €10 million resulting rfom changes in the scope of consolidation in Europe during the fourth quarter.(in € millions) | Q4 2011 | Q4 2010 | total growth | organic growth |
Advanced Materials and Technologies | 93.8 | 97.5 | -3.7% | 1.8% |
Electrical Components and Technologies | 108.6 | 113.0 | -4.0% | 0.9% |
Group total | 202.4 | 210.5 | -3.9% | 1.3% |
Europe | 74.9 | 91.7 | -18.3% | -4.9% |
Asia-Pacific | 54.2 | 50.7 | 6.8% | 2.3% |
North America | 63.2 | 58.8 | 7.6% | 7.5% |
Rest of the world | 10.1 | 9.4 | 8.1% | 8.4% |
Group total | 202.4 | 210.5 | -3.9% | 1.3% |
Growth in the Advanced Materials and Technologies segment's
sales slowed significantly during the quarter, mainly in
high-temperature equipment for the solar industry, due to a
very high base of comparison and slacker demand from solar
cell manufacturers, which had built up inventories.
Excluding the solar market, growth in this segment reached
around 10%. Sales in the
In Electrical Components and Technologies, the slowdown in process industries during the third quarter carried through into the fourth quarter. On the other hand, the wind energy market posted further growth in both the replacement and original-equipment segments. In the electronics and transportation segments, sales generally recorded weak growth compared with the same period of 2010.
2011 Objectives and Outlook
Mersen reiterates its 2011 operating margin target before
non-recurring items of over 12% of sales, notwithstanding the
weak organic growth recorded in the fourth quarter.
For the beginning of 2012, the Group anticipates a moderate
contraction in sales (on a like-for- like basis) on the
record levels achieved in 2011. This contraction is due to
the slowdown in
business trends in the solar energy market pending the
absorption of solar cell inventories in
China and an unfavorable macro-economic environment in
Europe.
In this context, Mersen has taken measures to control costs
and capital expenditures in order to adapt to the economic
conditions prevailing at the beginning of the year.
The Group is confident in its ability to achieve further
expansion, particularly in alternative energies and power
electronics owing to its impressive competitive positioning
and the solid partnerships it has built with its main
customers. From 2012, it will be boosted by the contribution
of Eldre, a company that joined the Group in early 2012,
further underpinning its strategy in power electronics.
Diary dates
-------end -----
Full-year 2011 results: March 15, 2012 (before the market opens)
About MersenGlobal expert in materials and solutions for extreme environments as well as in the safety and reliability of electrical equipment, Mersen designs innovative solutions to address its clients' specific needs to enable them to optimize their manufacturing process in sectors such as energy, transportation, electronics, chemical, pharmaceutical and process industries.
The Group is listed on NYSE Euronext Paris - Compartment B
Visit our website www.mersen.com
Analyst and Investor Contact Press Contact Véronique Boca Vilizara Lazarova VP Financial Communication
Mersen Publicis Consultants
Tel. + 33 (0)1 46 91 54 40 Tél. +33 (0)1 44 82 46 34
Email : dri@mersen.com Email: vilizara.lazarova@consultants.publicis.fr
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2011 sales up close to 11%, in line with the Group's objectives |