MANAGEMENT REITERATES EXPECTATIONS FOR 2011
Key points of the first half of 2011:
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Turnover increased by 13.7% to € 232.7 million
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REBITDA increased by 15.2% to € 32.9 million
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EBIT increased by 22.1% to € 20.2 million
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Net profit increased by 33.0% to € 14.0 million
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Cash flow from operational activities: +15.1% to € 19.6 million
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Outlook for 2011: Turnover growth between 14% and 18%, organic turnover growth between 3% and 6% and profitability that is expected to grow faster than turnover
Ger van Jeveren, CEO of Arseus: “Since our independence in October 2007, despite the difficult economic conditions, Arseus has developed into a leading company with a strong focus on innovative products and concepts with added value. It is satisfying to note that Arseus’ profitability has evolved in a similar way. In the first half of 2011, the REBITDA, EBITDA, EBIT and net profit once again increased faster than turnover growth. This excellent result was driven by the strong performance of Fagron, Arseus Medical, Corilus and Arseus Dental Technology. The results of Arseus Dental Solutions were below expectations. The management has taken the necessary measures to improve the results of Arseus Dental Solutions and is fully confident that it will also succeed in this.
In line with earlier forecasts, for 2011 we expect turnover growth of between 14% and 18%, organic turnover growth of between 3% and 6% and profitability that is expected to grow faster than turnover.”
Please open the link below for the full press release and the interim financial statements: