Waregem (Belgium) / Rotterdam (Netherlands)[1], 15 April 2013 – Arseus announces that it decided to change its method of calculating total and organic turnover growth at constant exchange rates as from 30 June 2013.
At the beginning of 2012, after acquisitions in the United States and Brazil – its first acquisitions outside Europe – Arseus started publishing total and organic turnover growth figures at constant exchange rates. In the method consistently applied by Arseus, this has been based on the exchange rate on 31 December of the previous year. However, this method can give a distorted view of operational developments at Arseus and in particular at its Fagron division. After consulting investors and analysts, the Board of Directors has therefore decided to change the calculation method.
As from 30 June 2013, the calculation of total and organic turnover growth at constant exchange rates of Arseus and its Fagron division in a given period will be based on the average exchange rate in the same period of the previous year.
To enable comparison of future total and organic turnover growth at constant exchange rates of Arseus and its Fagron division, Arseus has calculated total and organic turnover growth at constant exchange rates in the first quarter of 2013 and the four quarters of 2012 using the new method described above. For Arseus, both total growth and organic growth at constant exchange rates, as calculated by this method, were 3.9% in the first quarter of 2013. For Fagron, total growth at constant exchange rates was 8.5% and organic growth at constant exchange rates was 8.4%.
[1] This press release was sent out by Arseus NV and Arseus BV.
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