2014 Annual Results - 2014 Fourth-Quarter Revenue

CFAO's robust performance confirms the strength of its business model...

• 2014 revenue: €3,560.4m
• Recurring Operating Income: €270.7m, or 7.6% of revenue
• Net income attributable to owners of the parent: €100.5m
• Free Operating Cash Flow: +€94.8m
• Proposed dividend: 0.81 euro per share
• 2014 Fourth-Quarter Revenue: €947.4m, up +3.5%

In a statement, Richard Bielle, Chairman of CFAO's Management Board said:
"CFAO has once again delivered a substantial performance. The robust growth in the Healthcare and Consumer Goods business lines in 2014 almost fully offset the contraction in a number of our automotive markets and the staged withdrawal from distribution contracts in the Maghreb region and in East Africa. Having improved our operating margin and maintained the level of net income, the strength of CFAO's business model and the resilience of our results are clearly demonstrated.

The signing of new partnerships with vehicle manufacturers in 2015 will gradually compensate the impact of the non-renewal of some distribution agreements.

Backed by our sound fundamentals and sustained growth on the African continent, we are in a position to pursue our policy of investment in a number of major strategic projects and expect to substantially grow the share of B-to-C business in the next few years".

Please find hereafter the entire press release.