The family-owned industrial group specialized in eco-construction, wood energy and wood impregnation announced the publication of its consolidated results (period from 1 September 2013 to 28 February 2014): consolidated turnover in progression of 56.4 per cent to € 22.7 million (organic growth of 11.1%); operational performance impacted by the sharp rise in prices of raw materials; rise of new industrial tool now fully operational; Consolidated net income: € 1.3 million. The consolidated turnover of the Group amounted to € 22 million, € 7 million in the first half of the year 2013/2014, against € 14.5 million in the previous year, representing a growth 56.4. Out variation of perimeter (acquisitions of FBI and Sainte Agathe at April 18, 2013 integrated into the accounts from March 2013), the increased level of activity amounted to 11.1% (CA proforma H1 2012/2013: € 20.4 million).

The Construction Wood activity grown by 17.3% despite a market environment particularly unfavourable

First half of 2013/2014 was marked by an overall increase of the Construction Wood(40.7% of sales for the six months) of 17.3% (€ 9.2 million against € 7.9 million in the comparable period in 2012/2013). In a market for Wood Construction particularly poor, the Group continued its announced strategy with the intensification of commercial efforts to export and purchasing of DIY stores. This aggressive marketing policy is illustrated by the evolution in volumes of timber sold (+15.1%) as well as increased sales contribution of exported Construction Wood which now stood at 13.9% against 11.0% in the first half of last year.

Wood Energy (30.6% of sales for the six months) maintains a good momentum with revenue growth of 4.7% (€ 6.9 million against € 6.6 million) driven by sales of pellets (+11.4% compared to the 1st half of 2013), the sharp rise in prices has offset a slowdown due to particularly mild winter weather. Growth pole was also hampered by a transient decrease in the production of electricity by almost 9.5% due to preventive maintenance on the boiler resulting in a phase stop production. The activities of the Pole impregnation(22.8% of sales for the six months was € 5.2 million in H1 2013-14), integrated in the perimeter since March 2013, registering a growth of 6.3% on the segment poles and 4.7% on Decovert segment (hardscape products). The good performance on sales of poles with traditional partners (+9.4% on a comparable period) offset lower export sales (-5.8%) whose turnover for the first half from 2012 to 2013 had benefited from exceptional orders without equivalent on the new fiscal year. The period corresponds to the low season on the segment of Decovert activity.

Moulinvest SA is a France-based company that specializes in the wood industry. The Company provides wood cutting services and manufactures finished wood products aimed at the building industry, such as beams and timber frame structures for houses. The Company also uses the waste from its primary activity using biomass to produce electricity and heat, as well as manufacturing wood pellets to be used in heating systems. Moulinvest SA sources its wood from forests in the Auvergne and Rhone-Alpes regions of France. The Company has various direct subsidiaries, such as Scierie Moulin, which regroups the wood cutting activities of the Company, and Moulin Bois Energie, which focuses on the renewable energy activities of the Company. Moulinvest SA also has an indirect subsidiary, SCI de Ville, a real estate company which owns the building used by Scierie Moulin.