Deceuninck’s Sales Grow in Third Quarter

October 25th, 2016 by Editor

Sales for Deceuninck’s global operations grew 0.9 percent in the third quarter of 2016 to €168.5 million ($181.2 million). The company’s year-to-date September 2016 sales grew 4.1 percent to € 498.7 million ($542 million).

The 0.9-percent increase in sales in the period was primarily driven by strong business developments, which were partially offset by Britain’s choice to leave the European Union, the contraction of the Russian market and the phasing out of some low-margin products.

“We are pleased with our Q3 sales performance, which continues to be in line with expectations despite the adverse effect of the Brexit and the further contraction of the Russian market,” said Deceuninck Global CEO Francis Van Eeckhout.

North American sales increased 2.3 percent to € 31.2 million ($33.9 million) in the third quarter. Western Europe decreased 0.9 percent to € 39.8 million ($42.22 million). Sales in central and eastern Europe decreased 6.1 percent to € 46.5 million ($50.5 million). The Turkey and emerging markets region saw sales increase by 8.8 percent to € 51 million ($55.38 million). Turkey represents 90 percent of total sales in the region.

Deceuninck also announced that Paul Thiers has succeeded Pierre Alain Baron De Smedt as chairman of the board.

“I would like to pay special tribute to Pierre Alain and the significant contribution he has made to our company,” said Van Eeckhout. “Under his chairmanship, Deceuninck has undergone a successful transformation, and he leaves a business which is well placed for future profitable growth. We wish him all the best. I much look forward to working with Paul. He is a successful entrepreneur with a fantastic track record in highly complex environments. I have no doubt that Deceuninck will benefit from his experience and passion for our industry.”

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