Strong organic growth for Fagron and Corilus
Waregem (Belgium) / Rotterdam (Netherlands)[1], 10 January 2011 – The consolidated turnover increased 9.3% to € 124.5 million in the fourth quarter of 2010. Organic growth was 2.5%. In 2010, the consolidated turnover of Arseus increased 8.4% to € 424.1 million. Organic growth in 2010 was 2.7%. Arseus will publish the full annual figures for 2010 at 7.30 a.m. on 16 February 2011.
The evolution of turnover[2] per division is as follows
x 1,000 euros Q4 2010 Q4 2009 Total growth Organic growth Fagron 54,019 43,106 25.3% 8.7% Arseus Dental 46,647 46,905 -0.5% -1.6% Arseus Medical 15,063 15,645 -3.7% -6.1% Corilus 8,772 8,253 6.3% 6.3% Total 124,501 113,908 9.3% 2.5% x 1,000 euros 2010 2009 Total growth Organic growth Fagron 179,339 150,741 19.0% 7.8% Arseus Dental 161,457 161,254 0.1% -0.7% Arseus Medical 52,203 50,526 3.3% -5.3% Corilus 31,057 28,795 7.9% 7.9% Total 424,056 391,315 8.4% 2.7%
Ger van Jeveren, CEO of Arseus: “A strong foundation was laid in 2010 for the future growth of Arseus and its four divisions. With the acquisitions in the US and Brazil, Fagron has developed from a European player to the worldwide market leader and consolidator in the field of pharmaceutical compounding. Arseus Medical has developed from a supplier of low added value consumables to a provider of high added value concepts at an impressive speed. The smooth introduction of Corilus’ software in new markets is a confirmation of the quality of the organization as well as the quality of its software. With a successful restructuring, a cost-saving programme and its new organizational structure, Arseus Dental has laid a foundation for future growth. In our view, Arseus is very well positioned to continue the positive trend in 2011. Based on the current view and the existing Arseus portfolio, we expect turnover growth of between 8% and 12% in 2011, with organic turnover growth of between 3% and 6% 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.
[2] Unaudited management figures.
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