STRONG GROWTH IN PROFITABILITY OF FAGRON, ARSEUS MEDICAL AND CORILUS
STRONG INCREASE IN OPERATIONAL CASH FLOW (+68%)
Waregem (Belgium) / Rotterdam (the Netherlands)[1], 20 August 2010 – Arseus publishes its results for the first half of 2010 today in a separate document which is attached to this press release and has been posted at www.arseus.com. This press release contains the key figures and an explanation.
Key points of the first half of 2010:
- Turnover growth of 7.6% to € 204.7 million
- REBITDA increases by 12.5% to € 28.6 million
- Net profit increases by 12.3% to € 10.6 million
- Operational working capital decreases by 7.0% compared to 30 June 2009
- Cash flow from operating activities: +68.4% to € 17.0 million
- Reconfirmation of outlook for 2010: Turnover growth of between 5% and 10% and a REBITDA that is expected to grow faster than turnover
Ger van Jeveren, CEO of Arseus: “Arseus had a good first half of 2010. Turnover increased by 7.6% to € 204.7 million while the REBITDA increased by 12.5% to € 28.6 million. These results are in line with the previously issued outlook for 2010, which expected the REBITDA to grow faster than turnover. The continuous focus on operational cash flow has resulted in an increase of no less than 68%.
Fagron, Arseus Medical and Corilus achieved the best first half-year results ever. Arseus Dental in contrast suffered from the difficult economic conditions and the effects that accompany a restructuring. We expect that the cost-saving measures will result in a better result for Arseus Dental in the second half of 2010.
In line with earlier forecasts, for 2010 we expect turnover growth of between 5% and 10%. REBITDA is expected to grow faster than turnover.”
[1] This press release was sent out by Arseus NV and Arseus BV.
Please open the link below for the full press release and the interim financial statements: