Financial Highlights
|
|
H1 2017 US$ |
H1 2016 US$ |
% Increase |
|
Revenue |
$ 42.4m |
$ 39.7m |
7% |
|
Adjusted EBITDA(1,2) |
$ 13.2m |
$ 12.1m |
9% |
|
Adjusted EBITDA margin(1,2) |
31% |
30% |
|
|
Profits before tax |
$ 12.0m |
$ 10.4m |
15% |
|
Adjusted net income(1,3) |
$ 8.7m |
$ 7.3m |
19% |
|
Diluted adjusted net income per share(1,3) |
$ 0.15 |
$ 0.13 |
15% |
|
Interim dividend per share |
$ 0.0275 |
$ 0.025 |
10% |
Business Highlights
· Broad-based geographic and product line growth:
o Three of six territories grew in H1 2017 led by Europe, Latin America and the Rest of World countries
o H1 2017 trading in North America ended with June at the highest levels of the year with market indicators pointing to solid H2 2017 trading
o Ride-on Screed sales grew 29% vs. H1 2016
o 3-D Profiler System® revenues grew 30% vs. H1 2016
o Other revenues grew 14% vs. H1 2016 driven by sales of parts and accessories and STS-11M Topping Spreaders
Jack Cooney President and Chief Executive Officer of Somero said:
“Somero's sales performance during H1 2017 experienced solid momentum, prompting a 10% increase in our interim dividend following the efficient conversion of revenues into profits and cash flow. We are particularly pleased that our growth in H1 2017 came from a variety of territories and product lines, highlighting Somero's diverse portfolio of markets and products. We have proven our ability to extend our sales reach through product development and our strengthened financial position will provide funding for strategic investments so that we can build on the recent opportunities created by our talented team. With the solid H1 2017 performance and healthy momentum carrying over into H2, the Board expects Somero to deliver another successful year of growth in line with current market expectations.”