KirnThe SIMONA Group saw business pick up over the course of the third quarter, with sales revenue expanding by 3.6 per cent year on year to €93 million. In the first two quarters of 2016 growth had stood at just 1.3 per cent in total. Continued momentum in the United States as well as a slight recovery in Asia were among the principal growth drivers in the third quarter. Business in Europe continued to develop solidly.

In the first nine months of the financial year as a whole the SIMONA Group generated sales revenue of €280.7 million. This represents a year-on-year (€275.1 million) increase of 2.0 per cent.

Revenue from sales in the product category comprising Semi-Finished and Finished Products rose substantially in the first three quarters of the financial year. By contrast, Pipes and Fittings continued to feel the effects of a sluggish market environment and the associated lack of project business.

Benefiting from improved revenue flows, earnings before interest and taxes (EBIT) were also up significantly in the third quarter, rising from €4.4 million a year ago to €7.1 million. In the first three quarters as a whole EBIT stood at €23.5 million (prev. year: €21.3 million). The Group's EBIT margin stands at 8.4 per cent.

"Building on strong business in the United States and a slight upturn in Asia, we achieved solid growth in the third quarter," says Wolfgang Moyses, CEO of the SIMONA Group. We are satisfied with our earnings. In view of this positive performance, we now expect to achieve EBIT of €24-27 million and revenue of €360-370 million for the financial year as a whole," says Moyses.