NET PROFIT INCREASED 32% AT TURNOVER GROWTH OF 10%
STRUCTURAL IMPROVEMENT IN CASH FLOW (+42%)
Waregem (Belgium) / Rotterdam (Netherlands)[1], March 2, 2010
Key points 2009:
- Turnover growth of 10.3% to € 391.3 million
- REBITDA increases 10.7% to € 52.7 million
- Net profit increases 31.8% to € 19.6 million
- Operational working capital decreases 170 basis points to 15.6% of turnover
- Cash flow from operating activities very strong: +42.4% to € 39.5 million
- Proposed dividend 2009: € 0.36 per share; an increase of 20% compared to 2008
- 2010 outlook: Turnover growth of between 5% and 10% and a REBITDA that is expected to grow faster than turnover
- The Board of Directors appointed Sabine Sagaert, Mario Huyghe and Dirk Van Lerberghe to Arseus’ Executive Committee
- Arseus is included in the Amsterdam Small Cap Index of NYSE Euronext as of March 2, 2010
Ger van Jeveren, CEO of Arseus: “We can look back on an excellent year. Arseus proved resilient enough to deal with the challenging market conditions of 2009 and deliver excellent results. Our main focus has been the structural improvement of cash flow, resulting in an increase of 42%. Our healthy financial situation means we can further strengthen Fagron’s leading market position in 2010 and consider add-on acquisitions for Arseus Dental, Arseus Medical and Corilus as suitable opportunities arise. Based on the current view and the existing portfolio, we are expecting turnover growth of between 5% and 10% in 2010 and a recurring EBITDA that is expected to grow faster than turnover.”
[1] This press release was sent out by Arseus NV and Arseus BV.
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