Naturhouse earns €13.4 million in the first quarter, consolidates the recovery of the French market and agrees to pay a gross dividend of €0.20 per share
Barcelona, 21 July 2017.- Naturhouse, a company specialising in the sale of diet products and dietary re-education, has registered a turnover of €54.3 million, in which the acceleration of growth in France and the positive performance of the Spanish market both stand out. This is in spite of the Easter effect, the five fewer days of turnover in Italy due to several consecutive bank holidays and the transition of the company’s management in Poland.
EBITDA stands at €19.1m and the EBITDA margin at 35.2%, which is above the group’s target range for 2017 (30%-35%), in spite of the costs of developing new markets. Net profit, meanwhile, reached €13.4 million.
In terms of geographic areas, alongside the recovery of the French market, which has grown in the second quarter by 3.3% thanks to the appropriate measures being taken in the country, Spain’s continued growth stands out, showing how the country’s recovery has been firmly consolidated. Meanwhile, Italy and Poland have seen a fall in sales, the former following a first quarter affected by bad weather, joined by a second quarter that included several bank holidays and the Easter effect. Poland, meanwhile, has undergone a management transition in the country, which concluded with the appointment of two managing directors directly supervised by the Group’s Vice President, Kilian Revuelta, with which we hope Poland will improve in the coming quarters.
In terms of centre numbers, Naturhouse has opened 74 centres in 1H17, reaching a total of 2,353 stores worldwide, or 61% of the openings planned for the whole year and a new record in centre numbers.
As for net cash position, Naturhouse ended 1H17 with €16.5 million after paying €10.8m in dividends in May, in a 28% increase vs end of 2016. It should be highlighted that this amount does not include the payment of €4.5 million pending from the Spanish Tax Authority. If this amount were included, the net cash position at the end of 1H17 would stand at €21 million.
The Board of Directors has also agreed to pay out an interim dividend for 2017 of €0.20/share, to be paid on 15 September, providing a yield of 4.7% based on the share’s closing price for June.
Meanwhile, for 2017, the company has committed to maintaining the EBITDA margin within the 30%-35% range, providing a payout of more than 85% and ending the financial year with a total of 2,400 centres.
According to Félix Revuelta, Chairman of Naturhouse: “The acceleration of growth in France and the continued positive tone in Spain means we can consider an improvement in our fundamentals in the forthcoming quarters. They will also be strengthened in the medium term by the contribution from our new countries, which are developing according to our expectations.”
Naturhouse is a Spanish business group listed on the Spanish stock exchange that works in the diet and nutrition sector, with a proprietary and distinctive business model based on the “Naturhouse Method”. The method combines the sale of food supplements with free, personalised advice and monitoring from a qualified specialist. Since it opened its first shop in the Spanish city of Vitoria in 1992, Naturhouse has provided advice to more than 5,500,000 people. The company, which operates in 32 countries, had 2,353 centres at 30 June 2017, both directly operated and franchises. Naturhouse is the only diet food business to be present throughout the whole value chain, from product development and manufacturing to sales and customer assessment. This, alongside the business’ low investment requirements and an attractive return for franchisees, has meant the company has received numerous awards. For seven consecutive years, it has been selected as one of the top 100 franchises worldwide by Franchise Direct.
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