Fifth Year of Consecutive Growth for Herstal Group - 10 million Euro Dividend

The general shareholders’ meeting of Herstal SA, holding company of the Herstal Group, approved the 2016 accounts on this day the 6th June. A dividend of 10 million euros will be paid to the Wallonia Region for the third consecutive year.
In 2016, Herstal Group maintained the period of growth begun in 2011, despite major shifts in the global geopolitical landscape and a cyclical market that remains highly competitive. Herstal Group is further consolidating its position as a world leader in its two business sectors: Defence and Security via the FN Herstal brand (Browning and Winchester), and Hunting and Sports Shooting, which account for 61% and 39% of turnover respectively.

Consolidated turnover for 2016 totalled 853 million €, a significant rise of 10.6% on 2015. The financial year ended with a consolidated net income of 60.5 million euros.
This strong performance is in line with objectives and the result of a three-pronged, multi-year offensive strategy: an extensive innovation policy and the development of an extended line of high-quality products; sustained investment in R&D activities and manufacturing facilities (59 million € in 2016); and a stronger global footprint. 
The Group has its policy centre in Herstal and employs over 2,800 personnel worldwide (USA, UK, Portugal, Finland, Dubai, Singapore, Japan). In Belgium, the Group has continued to increase job numbers over recent years, currently employing almost 1,500 personnel.

Philippe Claessens, Chief Executive Officer of Herstal Group, states that "The Group has posted very positive results for 2016 despite a fluid environment and major challenges that have to be managed. The Group intends to pursue its strategy focused on innovation and delivering product diversification and a more varied global customer base, built on a profitable medium- and long-term growth model. The results for 2016 are the fruit of this strategy and of the efforts made by all the Group’s employees worldwide."

Chairman Jean-Sébastien Belle further underlines the major role played by the Group in driving economic growth in the Wallonia region through its large sub-contracting network and involvement in a number of innovative technological projects (the regional Marshall Plan, and the MecaTech and Skywin Centres of Excellence) in association with regional and university research centres.
* Winchester Firearms is a registered trademark of Olin Corporation