FAGRON AND CORILUS REALISE STRONG GROWTH
Waregem (Belgium) / Rotterdam (the Netherlands)[1], 14 July 2010 - In the second quarter, the consolidated turnover of Arseus increased 7.8% to € 107.9 million. Organic growth was 2.3%. In the first semester of 2010, the consolidated turnover increased 7.6% to € 204.7 million. Organic growth was 2.7%.
The evolution of turnover per division is as follows[2]:
(x € 1,000) Q2 2010 Q2 2009 evolution organic growth Fagron 46,443 38,678 +20.1% +9.2% Arseus Dental 41,273 41,667 -0.9% -0.9% Arseus Medical 12,490 12,622 -1.0% -12.2% Corilus 7,680 7,073 +8.6% +8.6% TOTAL 107,886 100,041 +7.8% +2.3%
(x € 1,000) H1 2010 H1 2009 evolution organic growth Fagron 85,076 73,342 +16.0% +8.5% Arseus Dental 79,697 79,586 +0.1% -0.8% Arseus Medical 25,122 23,157 +8.5% -4.9% Corilus 14,783 14,088 +4.9% +4.9% TOTAL 204,678 190,173 +7.6% +2.7%
Ger van Jeveren, CEO of Arseus: "Our divisions showed varying performance in the second quarter. Fagron and Corilus saw excellent results with organic growth of 9.2% and 8.6%, respectively. Fagron's continuing strong turnover growth is due to the successful strategy to revitalise pharmaceutical compounding, the strength of the Fagron brand, the optimum use of the knowledge and expertise available locally and the organisation's sales and marketing power. The turnover of Corilus was driven by the attraction of new customers, the increase in the number of maintenance contracts, the launch of self-developed innovative software packages and the international rollout of software.
Arseus Dental had a somewhat less successful quarter and realised a decline in turnover of 0.9%. This decline was primarily due to the decreased demand for equipment in Belgium and France. A positive development was the fact that activities related to dental laboratories have continued their cautious recovery, the order portfolio of Swiss Hader has grown and the € 4-million cost-saving programme is on track. The development in turnover at Arseus Medical gives a distorted view since turnover in the second quarter of 2009 was driven by the delivery of a number of large orders that had been delayed. Turnover in the second quarter of 2010 was also negatively affected by the termination of activities with a low gross margin.
We look to the future of Arseus with confidence and consequently confirm the expectations for 2010 that we announced earlier."
[1] This press release was sent out by Arseus NV and Arseus BV.
[2] Unaudited management figures.
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