NPX
05/11/2014 09:36
FORECAST
REL: 0936 HRS Nuplex Industries Limited
FORECAST: NPX: 2015 Financial Year Outlook
NZSX/ASX release 5 November 2014
2015 FINANCIAL YEAR OUTLOOK
Nuplex Industries (NZSX/ASX: NPX) is today holding its 2014 Annual Meeting.
At the Meeting, the following trading update and earnings guidance for the
2015 Financial Year will be given.
Operating earnings before interest, tax, depreciation and amortisation
(EBITDA) for the 2015 Financial Year is expected to be between $127 and $137
million. This is based on 30 September 2014 exchange rates.
The sale of Nuplex Specialties and Masterbatch is expected to be completed by
the end of November 2014. Once completed, operating EBITDA for the Group is
forecast to be between $115 and $125 million which includes an estimate for
the 5 month contribution from the Specialties segment.
In ANZ, market conditions have been steady, except within the Australian
Coating Resins business, in which volumes continue to be challenging due to
changing customer demands. The restructure of the ANZ manufacturing network
is on track to be completed by the end of this calendar year and is expected
to deliver an overall improvement in profitability in the 2015 Financial
Year.
Asia is expected to deliver modest growth when compared with the prior
financial year. Forecast steady growth in China, Vietnam and Indonesia is
expected to be moderated by the impact of the initial fixed costs associated
with commissioning the new site at Changshu in China as well as the new
capacity in Indonesia.
In Europe, modest growth is expected over the 2015 Financial Year. Operating
conditions experienced in the second half of the previous financial year have
continued into the first half of the 2015 Financial Year. However, given the
macro-economic trends, regional management are cautious that a slow-down may
occur in the second half.
Anticipated steady demand in North America underlies an expectation for
earnings to be maintained at the strong level they have been in recent years.
Ends
For further information, please contact:
Josie Ashton, Investor Relations +612 8036 0906 [email protected]
End CA:00257248 For:NPX Type:FORECAST Time:2014-11-05 09:36:34
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