Naturhouse increases its Net Income to €18.7 million and opens 129 stores to reach a new company record of 2,083 centres
Madrid, 11 November 2015.- Naturhouse has improved the main figures of its P&L account in the first nine months of 2015, due to the boost in the company’s international business, improvements in the domestic market and significant growth in net centre openings, leading to a new company record for centre numbers.
Naturhouse ended September with 2,083 centres in 29 countries, which is an increase of 129 stores compared to the end of 2014, twice the amount recorded for the whole of that year and 54% of the guidance for 2015-16. These figures once again highlight the growing market interest in our centres and the Group’s capacity for growth, especially considering the 37 openings registered in the third quarter, which is usually a weak period as it coincides with the summer season.
The group’s sales have increased to €74.1 million as a result of the improvement in the international business, which has registered growth of 2.8% led by France (+4.5%) and Poland (+23.2%), and the slowdown in the decline of the Italian and Spanish markets.
Meanwhile, EBITDA stands at €27 million, 0.5% higher than the amount recorded in the same period last year, due to the overall improvement in the business and the operational efficiency measures continuously implemented by the company. With this figure, Naturhouse registers an EBITDA margin of 36.4%, which is higher than for the same period in 2014 and above the upper threshold of the group’s target range (30%/35%) for fiscal years 2015 and 2016, while also being the highest in the industry.
Net income is up 1.3% to €18.7 million, due to a general improvement in the business alongside lower financial costs and the 35% increase of the contribution made by Ichem, in which Naturhouse has holdings.
France and Poland continue to be the Group’s growth drivers and the slowdown in the decline of markets in Spain and especially Italy stands out once again this quarter.
Naturhouse closed the third quarter of 2015 with a net cash position of €10.5 million after distributing dividends to the value of €14.05 million, highlighting once again the company’s high cash generation capacity and its ability to maintain an attractive shareholder remuneration policy (payout >80%).
Naturhouse was first listed on the stock exchange on 24 April 2015, an operation that captured investors from Europe’s leading financial centres. The group aims to distribute an 80% payout of consolidated net income and is forecasting net openings of 240 centres between 2015 and 2016. This goal is increasingly close to being fulfilled, as between 31 December 2014 and 30 September 2015 alone, 129 new Naturhouse centres were opened worldwide, of which 92% are franchises.
About Naturhouse
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 4,000,000 people. The company, which operates in 29 countries, had 2,083 centres at 30 September 2015, 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.
For further information, please contact Kreab:
Cristina Triana (+34 93 418 53 87)/José Luis González (+34 91 702 71 70)ctriana@kreab.com/jlgonzalez@kreab.com
IMPORTANT NOTICE
This announcement does not constitute an offer for sale or a request for tender offers of securities in the United States, Canada, Japan or any other country where it is illegal to make an offer or request of this kind. Securities may not be offered or sold in the United States unless they are registered within the scope of the applicable legislation or are exempt from registration. It is not Naturhouse’s intention to register any section of the Offering in the United States or make a public offering in the United States. Any public offering of securities made in the United States will be carried out through a prospectus that will contain detailed information about Naturhouse and its management team, as well as financial statements. Copies of this announcement are not and should not be published, distributed or sent to the United States, Canada, Australia, Japan or any other country in which distributing said information is restricted by law.
This communication is an announcement and is not a prospectus and none of the document’s content is an offer of securities. No-one should acquire ordinary Naturhouse shares unless the acquisition is based on the information in the Prospectus published by Naturhouse in relation to the Offering and listing of its shares.
Naturhouse’s Prospectus was approved by the Comisión Nacional del Mercado de Valores (“CNMV”) and was recorded in its official register on 9 April 2015. The Prospectus is available to investors on the issuer’s website (www.naturhouse.com) or that of the CNMV (www.cnmv.es), as well as at the registered addresses of Naturhouse, the Stock Exchanges, the entities participating in the Offering and the agent.
