PSB Industries reported sales of EUR61.3 million in Q3 2014, remaining stable
compared to Q3 2013. This confirms the gradual and expected recovery of the
activity and allows the Group to slightly reduce its decrease from -3.6% in
the first half to -2.5% for the first nine months of 2014, compared to 2013
annual revenues which were historically high.
The Beauty packaging business, mainly focused on the Luxury & Beauty market, has
registered Q3 revenues of EUR37.7 million, raising the YTD to EUR123.0 million,
compared with EUR129.7 million in 2013 (- 4.4% at constant currency). Despite
the economic downturn in the Americas, new products launches have contributed to
ensure a return to growth, in line with forecasts, with new products such as
Fluid Stick or serums for Dior, Opium Black caps for Yves Saint Laurent and
others for Coty, Hermès and Chanel.
Q3 revenues in the Custom Packaging business came to EUR12.8 million, remaining
stable by comparison to 2013 over the same period and with a raise of over 2%
after adjustment of the basis effect linked to the voluntary commercial
arbitrations initiated in 2013. In the third quarter, the activity has well
coped with a slowdown in the Healthcare market and a bad summer weather that has
penalized the Food market. New products launches with key partners, such as Mix
Buffet or Agrial Group, allow to maintain the activity at a satisfactory level.
The Specialty Chemicals business reported a growth of 30.7% at constant currency
in Q3. As expected, the Group has benefited from a favourable delivery timing on
the Lighting and High-tech industries markets (precision polishing, watch and
batteries...). In the first nine months, the activity reported a revenue of
EUR32.7 million, compared to EUR31.6 million in 2013.
Confirmation of C+N Packaging Corporation Inc. acquisition
On September 23rd 2014, PSB Industries has signed the final agreement to acquire
C+N Packaging Corporation Inc., an injection molding and surface treatment
expert, with 250 employees and an annual revenue around 25M$ in 2013. Through
its several plants in North America and Poland, C+N Packaging provides high
quality service to prestigious customers such as Avon, Elizabeth Arden and
This first acquisition, in line with the Ambition 2020 plan, strengthens the
Group's international leadership in the Luxury & Beauty market. This activity is
consolidated since October 1st 2014 and will become accretive for the Beauty
Packaging activity as soon as 2015 on a current profitability basis.
The complementarity between C+N Packaging and PSB Industries offers to all
customers an extended value proposition on the Luxury & Beauty segments (Skin
care, Make up, Fragrance & Spirits) as well as a reinforced regional commercial
& industrial presence.
PSB Industries confirms the gradual recovery of the Beauty packaging and
Specialty chemicals activities, allowing the Group to face the end of 2014 with
Next release: Publication of Q3 2014 financial results on November 13th, 2014.
PSB Industries is an innovation-driven industrial group with leadership
positions in packaging and specialty chemicals. The group reported consolidated
revenues of EUR257 million in 2013 including over 63% from international sales.
The group has production plants in France, the United States, Japan and Mexico.
Nyse Euronext (ISIN FR0000060329) Cac Small, Cac Mid & Small, and CAC All -
Find all the companys financial results at : www.psbindus.com -
PSB is eligible for the French PEA PME (share savings plan)