DGAP-News: Braas Monier Building Group S.A. / Key word(s): Acquisition
Braas Monier signs agreement to acquire market leader in roof tiles in
Spain and Portugal
03.11.2014 / 08:59
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BRAAS MONIER signs agreement to acquire market leader in roof tiles in
Spain and Portugal
- Iberian markets with clear above-average revenues and earnings growth
potential
- Existing export know-how opens further opportunities for the Group
- Components business offers sizeable Group synergies
Braas Monier signed an agreement with the Uralita Group to acquire Tejas
Cobert (Spain) and CT Cobert Telhas (Portugal), market leader in the
Iberian Peninsula for manufacturing and supplying clay and concrete roof
tiles and fittings, on 31 October 2014. For 2013, Tejas Cobert and CT
Cobert Telhas reported revenues of EUR 32.1 million and a slightly positive
EBITDA. The total cash consideration amounts to EUR 26.5 million, including
existing inter-company loans. The expected acquisition will completely be
financed from existing cash on hand and is expected to be closed in early
January 2015 at the latest.
"With the agreed acquisition of Tejas Cobert and CT Cobert Telhas we have
set an important milestone to further strengthen our European business and
to execute our plan to create value for our shareholders," says Pepyn
Dinandt, CEO of Braas Monier Building Group S.A.. "In the medium term we
expect a significant increase in the top and bottom line as the recovery in
Spain and Portugal slowly takes hold."
The Iberian residential construction market is the fifth largest single
market in Europe. After several years of strong declines, leading research
institutes expect this market to stabilise in 2014 and to start growing
again in the coming years. Besides the Iberian markets, Tejas Cobert and
CT Cobert Telhas have generated significant growth via their well set-up
export businesses, with a focus on high quality clay tiles. Currently clay
tiles are sold in more than 50 countries on five continents. The companies
have six production facilities in Spain and Portugal.
Braas Monier knows the operating business in Spain and Portugal well as it
already holds a non-controlling interest in the Uralita subsidiary -
cooperation between Tejas Cobert and Redland (today part of the Braas
Monier Building Group) dates back to 1985.
About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of
pitched roof products. The Group covers all steps of the manufacturing
process, offering a comprehensive range of concrete and clay tiles for
pitched roofs in Europe, parts of Asia and South Africa. The portfolio also
includes ceramic and steel chimneys and energy system solutions. Braas
Monier had operations in 36 countries and 107 production facilities and
employed around 7,400 people as at 31 December 2013. The Company is
headquartered in Luxembourg.
Braas Monier Building Group shares were included in the SDAX, the Index for
Small Caps of the Deutsche Börse AG, with effect from 22 September 2014.
Contact
Achim Schreck,
Director Group Communications / Investor Relations
Braas Monier Building Group
Tel: +49 6171 61 28 59
E-mail: achim.schreck@monier.com
Website: www.braas-monier.com
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03.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Braas Monier Building Group S.A.
5, rue Guillaume Kroll
1882 Luxembourg
Grand Duchy of Luxembourg
Internet: www.braas-monier.com
ISIN: LU1075065190
WKN: BMSA01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Berlin - Tradegate Exchange,
Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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294559 03.11.2014
(END) Dow Jones Newswires
November 03, 2014 02:59 ET (07:59 GMT)
