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HUNTER DOUGLAS RESULTS Q1 2021
Rotterdam, May 6, 2021 – Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, results for Q1 2021:
. Sales: 25.9% higher to USD 1,052.2 million,
compared with USD 835.8 million in Q1 2020.
The 25.9% sales increase reflects a 22.5% volume increase and 3.4% positive currency impact. Volume increased in all areas.
The sales increase reflects unusually strong demand for home furnishing products in particularly North America and Europe due to the COVID-19 crisis; including a high backlog from Q4 2020.
North America accounted for 53% of sales, Europe 38%, Asia 3%, Latin America 3%,
and Australia 3%. Window Coverings were 94% and Architectural Products 6% of sales.
. Earnings before interest, tax, depreciation and amortization – EBITDA:
USD 182.5 million, compared with USD 88.1 million in Q1 2020.
. Income from Operations:
USD 144.1 million compared with USD 49.6 million in Q1 2020. Results in local currencies were higher in all areas.
. Profit before Tax: USD 144.0 million, compared with USD 48.4 million in Q1 2020.
. Total Net Profit: USD 108.6 million (per share EUR 2.61) compared with
USD 38.6 million in Q1 2020 (per share EUR 1.00).
Operating cash flow:
USD 37.7 million negative compared with USD 5.2 million negative in Q1 2020.
The outlook is cautiously optimistic but dependent on the development of the COVID-19 crisis and an expected normalization of consumer demand.
Hunter Douglas is in a strong position in terms of its brands, products, distribution and finances.