RECURRING NET PROFIT PER SHARE UP 11.1% TO €0.40
MANAGEMENT CONFIRMS OUTLOOK FOR 2009
Waregem (Belgium), 21 August 2009 – Today, Arseus publishes its results for the first half of 2009 in a separate document which is attached to this press release and has been posted on the company’s website www.arseus.com. This press release contains the key figures and explanatory notes.
Consolidated turnover in the first half of 2009 increased by 11.6% to €190.1 million, while REBITDA increased 12.0% to €25.4 million. Net profit was 5.1% lower, mainly due to higher depreciation and amortisation and the recognition of the revaluation of the financial derivatives, a non-cash item, in the income statement. Recurring net profit increased 7.9% to €12.1 million, while recurring net profit per share was 11.1% higher at €0.40.
Ger van Jeveren, CEO van Arseus: ‘Although economic conditions are still difficult, Arseus can look back on a successful half-year, with double-digit growth in both turnover and REBITDA. Turnover was up 11.6% at €190.1 million, while REBITDA grew 12.0% to €25.4 million. Organic growth turned out at 4.0%. All Arseus divisions played a part in this strong performance. These results are in line with our earlier outlook for the full year, with REBITDA growing faster than turnover in 2009.
The cost-reduction programme announced in early 2009 is on track and is already starting to bear fruit. We shall continue with the cost-saving programme in the second half, without jeopardising our long-term strategic objectives. Despite the economic crisis, we are making targeted investments in 2009 to optimise the organisation and further consolidate our leading market positions in Europe.
We are confident about the future and we confirm our earlier full-year outlook for 2009.’
The press release (including tables) can be downloaded from the following link: