Deceuninck sales fall on euro zone construction downturn

Deceuninck NV

23/10/2014 06:35

BRUSSELS, Oct 23 (Reuters) - Belgian PVC window frame maker 
Deceuninck  DECB.BR  reported worse sales than expected in the 
third quarter as a deteriorating economy hit its business in 
most of continental Europe. 
    The company, which makes a range of PVC-based products for 
the construction industry and also acoustic walls out of 
recycled PVC, said on Thursday that sales dropped 3.4 percent to 
141.3 million euros ($178.6 million). 
    Broker KBC Securities had pencilled in revenues of 144.2 
million for the second quarter, with Bank Degroof expecting 147  
million. 
    The Belgian company said volumes in France, its largest 
market in western Europe, fell by a double-digit percentage, as 
did those in the Netherlands. 
    In eastern Europe, it was a similar story, with double-digit 
declines in Germany and Russia, the German decline beginning in 
August and continuing into the fourth quarter. 
    By contrast, volumes in Britain, Spain, Italy and the United 
States grew by double-digit percentages. 
    Deceuninck, which raised 50 million euros in a private 
placement in August to fund its purchase of Pimas  PIMAS.IS  in 
Turkey and future acquisitions, said sales trends in the 
different regions were likely to continue to the end of the 
year. 
    However, economic uncertainty meant it could not give 
specific guidance for 2014 beyond saying it expected to be 
profitable. 
 (1 US dollar = 0.7913 euro) 
 
 (Reporting By Philip Blenkinsop) 
 ((philip.blenkinsop@thomsonreuters.com; +32 2 287 6838; Reuters 
Messaging: philip.blenkinsop.thomsonreuters.com@reuters.net)) 
 
Keywords: DECEUNINCK RESULTS