13 January 2016
DETAILS
H.B. Fuller Company (NYSE: FUL)
today reported
Fiscal Year 2015 Results:
* Income from continuing operations
for the 2015 fiscal year was $88.4 million,
or $1.71 per diluted share, versus
income from continuing operations of $50.2 million,
or $0.97 per diluted share, in the 2014 fiscal year.
* Adjusted total diluted earnings per share
in the 2015 fiscal year were $2.171,
down versus the prior year’s result of $2.331.
Lower revenue in the Americas,
the adverse impact of foreign exchange rates,
high operating costs in our EIMEA segment and
a higher core tax rate
were key drivers of the year-over-year decline
in adjusted diluted EPS.
These negative factors were mostly offset by
* the successful integration of the TONSAN business and
* effective price and raw material cost management.
* Net revenue for the 2015 fiscal year was $2,083.7 million,
down 1.0 percent versus the 2014 fiscal year.
Higher volume and higher average selling prices
positively impacted net revenue growth by 4.5
and 0.5 percentage points, respectively.
Constant currency revenue grew by 5.0 percent
year-over-year.
Foreign currency translation negatively impacted
net revenue growth by 6.0 percentage points,
or about $125 million in the 2015 fiscal year.
* Adjusted gross profit margin for the year
was up 160 basis points to 27.7 percent,
driven primarily by
* the benefit of effective price management and
* raw material cost management,
* offset somewhat by foreign currency translation and
excess costs associated with
the continuous improvement phase of
the EIMEA business integration project.
* Adjusted SG&A expense was up 5 percent
versus the prior year, but down nearly 3 percent
when adjusting for the additional SG&A expense
added from TONSAN.
* Adjusted EBITDA margin was 12.8 percent,
up 100 basis points versus the 2014 fiscal year.
VIEW FULL PRESENTATION Q4/FY 2015
Contact H.B. Fuller Company :
Maximillian Marcy
Investor Relations Contact
651-236-5062
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