Hunter Douglas Q1 2021 Results

Hunter Douglas, the world market leader in window coverings (Luxaflex®) and a major manufacturer of architectural products, provided results for Q1 2021:

Sales

25.9% higher to USD 1,052.2 million, compared with USD 835.8 million in Q1 2020. The 25.9% sales increase reflects a 22.5% volume increase and 3.4% positive currency impact. Volume increased in all areas. The sales increase reflects unusually strong demand for home furnishing products in particularly North America and Europe due to the COVID-19 crisis; including a high backlog from Q4 2020. North America accounted for 53% of sales, Europe 38%, Asia 3%, Latin America 3%, and Australia 3%. Window Coverings were 94% and Architectural Products 6% of sales.

Earnings before interest, tax, depreciation and amortization – EBITDA

USD 182.5 million, compared with USD 88.1 million in Q1 2020.

Income from Operations

USD 144.1 million compared with USD 49.6 million in Q1 2020. Results in local currencies were higher in all areas.

Profit before Tax

USD 144.0 million, compared with USD 48.4 million in Q1 2020.

Total Net Profit

USD 108.6 million (per share EUR 2.61) compared with USD 38.6 million in Q1 2020 (per share EUR 1.00).

Operating cash flow

USD 37.7 million negative compared with USD 5.2 million negative in Q1 2020.

The outlook is cautiously optimistic but dependent on the development of the COVID-19 crisis and an expected normalization of consumer demand.

Hunter Douglas is in a strong position in terms of its brands, products, distribution and finances.

For the complete press release, click here.

About Hunter Douglas

Hunter Douglas is the world market leader in window coverings and a major manufacturer of architectural products. The Company has its Head Office in Rotterdam, the Netherlands, and a Management Office in Lucerne, Switzerland. The Group is comprised of 134 companies with 47 manufacturing and 87 assembly operations in more than 100 countries. The common shares of Hunter Douglas N.V. are traded on Amsterdam’s Euronext and the Frankfurter Börse.

Contact:

Leen Reijtenbagh – Chief Financial Officer – l.reijtenbagh@hdnv.nl – +31 10 486 9582

Source: Hunter Douglas N.V.