2019-05-01
May 1, 2019 - On a like-for-like basis, sales grew by 5.7%, driven by both prices and volumes against a weak comparison basis, with Europe affected by harsh weather conditions in first-quarter 2018. Prices continued to progress along the lines of last year’s upbeat trends in a slightly lower inflationary environment.
On a reported basis, sales totaled €10,378 million, with a positive 0.6% currency impact notably due to the appreciation of the US dollar against the euro, despite the depreciation of the Brazilian real, Nordic krona and other Asian and emerging country currencies.
The Group structure impact was virtually stable at a positive 0.1%, with acquisitions offset by the disposal program, in particular the Pipe business in Xuzhou, China. Acquisitions reflect the integration of companies in new niche technologies and services (Kaimann), in Asia and emerging countries (Join Leader), and the consolidation of our strong positions (Hunter Douglas). It should be noted that in light of the now hyperinflationary environment in Argentina, this country which represents less than 1% of the Group’s consolidated sales, has been excluded from the like-for-like analysis since July 1, 2018.
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