THERMADOR GROUPE TURNOVER FOR Q1 2016 : +11.5%

THERMADOR GROUPE : TURNOVER FOR Q1 2016 : +11.5%

* 2016 turnover at constant scope: turnover excluding acquisitions of  Mecafer by Thermador Groupe and Nuair France by Sectoriel, consolidated since July 1, 2015.

From December 2015 to February 2016, the number of planning applications increased by 5.2% compared to the same period one year before. New housing starts progressed over the same time by 1.9% over the first two months of the year. These positive indicators do not seem for the moment to be having an impact on our business in France, which can be explained by the time it takes for secondary finishing work contractors in the building trade to intervene on new builds.
Our slight drop in turnover for the same scope is explained by PBtub's difficulties, caused by a persistent deflationary phenomenon and the loss of a plumbing contract from a major Dipra customer. Thermador International seems to be treading water, particularly in Central Europe and Spain where we are being challenged on price. Our team is strongly mobilized to return to growth. This bleak news is fortunately nuanced by points of satisfaction.
Aello, created from nothing in December 2015 invoiced 120,000 euros of equipment to swimming pool professionals in March. The team is now made up of 7 highly experienced and extremely motivated individuals.
Axelair, which has just increased its sales force by one person from the profession, closed the quarter at 314,000 euros.
Finally, we applaud Mecafer's great sales performance and that of its team, showing every day their enormous dedication and professionalism.

PERSPECTIVES
The economic indicators are better, our teams are in place and our ranges are being renewed and extended.
We have every reason to think that we can be confident about future performance.
We have found a local person to carry out a market survey on the African continent and I think we will be able to draw the first conclusions at the end of the year.

MIXED GENERAL MEETING OF APRIL 4
Our General Meeting was held in Lyon on April 4, 2016. It brought together 220 people representing
2,720,845 shares i.e. 61.3% of the capital and 4,139,588 votes i.e. 68.6% of voting rights.
On April 6, we met in Paris with around 160 shareholders who were not able to get to Lyon for the meeting.
At the General Meeting:
- resolution 2 was adopted unanimously,
- resolutions 1, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15 and 16 were adopted on a majority voting basis,
- resolution 14 was rejected on a majority voting basis: 89.8% votes against.
Pursuant to the adoption of the 4th resolution with a 73.2% majority, shareholders will receive a letter from their financial intermediaries asking them to opt for payment in cash or in shares. The issue price of new shares is 76.65 euros.
You will find the text of the resolutions on pages 102 to 104 of the 2015 annual report, as well as on our website (www.thermador-groupe.fr).
It is with great pleasure that we welcome into our Board Laurence Ravet, an employee of our subsidiary Jetly, Laurence Verdickt and Olivier de la Clergerie, Independent Board Members of whom mini-biographies appear on our website.

PEA PME
Thermador Groupe has confirmed its eligibility to Euronext.