mutares portfolio: EUPEC expects sales to increase by more than 70% in 2014 and manages to secure a major new order

EUPEC, a subsidiary of mutares AG (ISIN: DE000A0SMSH2) specialised on coatings of oil and gas pipelines, expects sales to increase by more than 70% in the year to 31 December 2014. The company also managed to secure a major order in Nigeria. Projects have been managed with significant profitability. The order pipeline for 2015/2016 looks promising.

EUPEC expects sales of EUR 58m in 2014 after EUR 33m in 2013 (POC method). The increase by more than 70% demonstrates EUPEC’s strong relationships with a well-diversified and loyal customer base.

EUPEC has built a strong reputation of delivering within time and budget, while adhering to the highest safety standards. In 2014, EUPEC’s successful track record and brand name enabled the company to attract new customers and significantly improve its profitability. The company’s experienced and dedicated management team believes that the company is excellently positioned to continue its success story in 2015, together with its qualified and flexible workforce.

Capacities in 2015 are almost fully booked. In particular, EUPEC managed to secure a major new order for field joint coating in Nigeria by Saipem and Total. The coatings will be processed in the Egina field, approximately 100 kilometres off the Nigerian coast, South of Port Harcourt. The order volume amounts to EUR 12m. EUPEC will enlarge production capacities to ensure that all projects will be completed on time.

Bernard Guisol, CEO of EUPEC, comments: “We see a strong order pipeline for 2015 and 2016. EUPEC is one of the most successful niche players in the oil and gas industry. We are dedicated to continue our success story.”