Management confirms expectations for 2011
Waregem (Belgium) / Rotterdam (the Netherlands)[1], 10 October 2011 (7.30 a.m. CET) – The consolidated turnover of Arseus increased by 23.0% to € 116.7 million in the third quarter of 2011. Organic growth was 1.3%. In the first nine months of 2011, the consolidated turnover increased by 16.6% to € 349.4 million. Organic growth was 2.4%.
The evolution of turnover[2] per division is as follows:
x 1,000 euros Q3 2011 Q3 2010 Total growth Organic growth Fagron 61,251 40,245 52.2% 4.9% Arseus Dental 34,536 35,113 -1.6% -4.1% Arseus Medical 12,629 12,018 5.1% 0.0% Corilus 8,253 7,502 10.0% 1.0% Total 116,669 94,877 23.0% 1.3% x 1,000 euros 9M 2011 9M 2010 Total growth Organic growth Fagron 170,055 125,320 35.7% 6.5% Arseus Dental 116,143 114,810 1.2% -1.6% Arseus Medical 38,446 37,140 3.5% -2.0% Corilus 24,759 22,285 11.1% 1.5% Total 349,403 299,555 16.6% 2.4%Ger van Jeveren, CEO of Arseus: “Arseus is developing very well. Despite the global economic crisis, it has been showing healthy organic growth quarter after quarter since its creation in 2007. What is more, an increasing proportion of turnover comes from the sale of products and concepts with substantial added value, which is leading to an improvement in turnover quality. Consequently, we feel confident about the future and are confirming our earlier expectations for 2011 as a whole. We are expecting turnover growth of between 14% and 18% in 2011 and organic turnover growth of between 3% and 6%, while profitablity is expected to grow faster than turnover.”
[1] This press release was sent out by Arseus NV and Arseus BV.
[2] Unaudited management figures.
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