NPX
12/05/2015 14:22
FORECAST
PRICE SENSITIVE
REL: 1422 HRS Nuplex Industries Limited
FORECAST: NPX: 2015 Financial Year Earnings Guidance Update
NZX/ASX release 12 May 2015
2015 Financial Year Earnings Guidance Update
Nuplex Industries today announced an upgrade to its earnings guidance for the
2015 Financial Year due to the ongoing strong performance in Europe, steady
growth in Asia and North America, and the continued improvement in Australia
& New Zealand.
Operating EBITDA* is now expected to be between $130 million and $134
million. This guidance range includes the 5 month contribution from Nuplex
Specialties and Masterbatch, the two ANZ focused businesses which were
divested on 28 November 2015. Nuplex had previously expected EBITDA to be
within the range of $115 to $125 million.
The 2015 Financial Year statutory results will report the performance of
Nuplex's continuing operations - the global resins business. Nuplex expects
statutory EBITDA from continuing operations for the 12 month period ending 30
June 2015 to be between $124 and $128 million. Previously statutory EBITDA
was expected to be between $109 and $119 million.
Nuplex's CEO Mr Severin said, 'Earnings for the 2015 Financial Year are
expected to be higher than expected due to the realisation of benefits from
internal initiatives and supportive market conditions.
'Nuplex's EBITDA to sales margin is ahead of management's forecast as a
result of the benefits flowing from the global procurement program, lower raw
material costs and group-wide lower operating costs.
'It is also due to the turnaround in profitability in the ANZ business where
the EBITDA to sales margin has continued to improve following the restructure
undertaken over the past few years.
'During the second half of the 2015 Financial Year, market conditions in
Europe have been better than expected as a result of activity in the
Automotive OEM and manufacturing sectors. Asia and North America have seen
steady growth as expected. In ANZ, as anticipated, market demand has been
relatively flat' said Mr Severin.
For the 12 months ended 30 June 2015, in local currency terms and in
comparison to the prior financial year, Nuplex is expecting EBITDA from
continuing operations in each of its four regions to grow;
o EMEA (Europe, the Middle East, and Africa): between 18 and 23% due to
higher EBITDA to sales margins and mid-single digit volume growth resulting
from strong demand from the manufacturing sectors and new product and sales
initiatives.
o Asia: between 15 and 20% due to higher EBITDA to sales margins and
mid-single digit volume growth.
o Americas: between 5 to 10% due to higher EBITDA to sales margins and
low-single digit volume growth.
o ANZ: between 43 and 48% due to higher EBITDA to sales margins as a result
of the restructure. Volumes are expected to be flat year on year.
Nuplex will release its results for the 2015 Financial Year on Friday 14
August 2015.
Ends
For more information, please contact:
Josie Ashton, Investor Relations ? +612 8036 0906 ? [email protected]
*Earnings before interest, tax, depreciation, amortisation, significant
items, associates and minority interest
End CA:00264213 For:NPX Type:FORECAST Time:2015-05-12 14:22:26
