Organic growth of 5.0% in first half of 2012
Key points of the first half of 2012:
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Turnover increased by 15.3% to € 268.3 million
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Organic growth of 5.0%
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Recurrent EBITDA increased by 17.9% to € 38.8 million
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EBITDA increased by 18.9% to € 32.8 million
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EBIT increased by 21.1% to € 24.5 million
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Operational working capital decreased by 20.3% compared to 30 June 2011
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Cash flow from operational activities increased by 17.4% to € 23.0 million
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Outlook for 2012: Healthy organic turnover growth and profitability that is expected to grow faster than turnover
Ger van Jeveren, CEO of Arseus: “The results for the first half of 2012 are convincing. In the first half of 2012, the recurrent EBITDA, EBITDA and EBIT once again increased faster than turnover. Thanks to the constant focus on innovative total concepts and products, Arseus was able to increase the gross margin as a percentage of turnover in the first half of 2012. The commitment to consistently follow an innovation strategy during many years and a focus on operational excellence enable Arseus to adapt quickly to continuously changing and challenging market conditions.
All of Arseus’ divisions achieved organic turnover growth in the second quarter of 2012. The organic growth realised by Fagron was adjusted due to the decision to phase out a total of € 14 million in industrial turnover with a lower margin. The introduction from 1 January 2012 of a limited trial period during which dentists in the Netherlands are free to set their own fees has led to considerable uncertainty and unrest on the Dutch dental market. With many dentists and dental laboratories consequently opting to delay investments, the turnover of Arseus Dental in the second quarter of 2012 was lower than originally budgeted.
We look to the future with confidence and consequently confirm the expectations for 2012 that we announced earlier.”
Please open the link below for the full press release:
Arseus announces record results
Please open the link below for the interim financial statements: