Belgium's Deceuninck says CEO to leave company

Deceuninck NV

25/02/2016 07:55

By Meredith McGrath 
    Feb 25 (Reuters) - Belgian PVC window frame maker 
Deceuninck  DECB.BR  said on Thursday its chief executive would 
leave the company, after a year in which core profit rose by 
more than half. 
    The group said CEO Tom Debusschere would leave at the start 
of March but remain as a non executive director until mid May. 
    Recurring core profit (REBITDA) in 2015 increased 54.5 pct 
to 56.5 million euros ($62.26 million) despite a competitive 
market.    
    For 2016, Deceuninck said it expected EBITDA evolution to be 
influenced by currencies and raw material prices, foreseeing 
further growth from product launches and increased capacity in 
United States and Turkey.    
    Sales growth in 2015 was strongest in Turkey and emerging 
markets as well as North America, while the group booked a fall 
in sales in Central and Eastern Europe. 
    Deceuninck said the fall in Central and Eastern Europe was 
caused by devaluation of the Russian rouble and a contraction of 
the Russian market.  
    In Western Europe, sales increased as the company benefited 
from economic recovery in Spain and Italy and continued growth 
in the UK.  
($1 = 0.9074 euros) 
 
 (Reporting by Meredith McGrath; editing by Robert-Jan Bartunek) 
 ((Meredith.McGrath@thomsonreuters.com;)) 
 
Keywords: DECEUNINCK RESULTS/