Third-quarter 2010 results
(Thomson Reuters ONE) -
Revenue growth in all countries, robust increase net income from ? 3 million to
? 22 million
Almere, 29 October 2010, 07:00 CET
Q3 2010 highlights
· Group revenue up to ? 833 million, a 7% increase year-on-year
· Gross margin of 21.5%, virtually stable compared to previous
quarters, allowing for seasonal effects (Q3 2009: 21.9%)
· Operating expenses of ? 140 million, unchanged compared to the third
quarter of 2009
· EBITA up to ? 33 million compared to an underlying EBITA of ? 24
million in the third quarter of 2009 (underlying EBITA Q2 2010: ? 19 million)
· Net income up to ? 22 million or ? 0.29 per share (Q3 2009: ? 3
million or ? 0.04 per share)
"Our activities are showing growth again in all countries," said Rob Zandbergen,
CEO of USG People. "At some of our operating companies revenue is even back
above pre-crisis levels again. One very positive piece of news is that we
crossed the zero line in the Netherlands in September and are now seeing growth
once again in what is our largest and most profitable market. The integration
operations in the Netherlands and Germany have been completed and we are now
looking forward from a strong position. In Germany, which recovers earlier in
the cycle, we already started reaping the benefits in the third quarter with an
exceptional rise in revenue and income. Now that growth has returned, the
Netherlands will also start to benefit from a more efficient organisation. We
see no signs of a weakening in demand and are confident that growth will
continue in all countries in the coming quarters."
Key figures
--------------------------------------------------------------------
Underlying results* Q3 Q3 change 9 months to 9 months to change
in millions of euros 2010 2009 Sept. 2010 Sept. 2009
-------------------------------------+------------------------------
Revenue 833 779 7%| 2,264 2,256
|
Gross result 179 171 5%| 496 512 -3%
|
Operating expenses 140 140 | 415 444 -7%
|
EBITDA 39 31 26%| 81 68 19%
|
EBITA 33 24 38%| 62 47 32%
|
Net income 12 4 200%| 11 4 175%
|
Reported net income 22 3 | 12 -21
-------------------------------------+------------------------------
* The reported net income figure for the third quarter of 2010 includes a
one-off net result of ? 10 million. This is the balance of a one-off tax gain of
? 10 million, accelerated amortisation of brand rights of ? 3 million and a
positive result of ? 3 million from unrealised value adjustments to interest-
rate derivatives. A full list of one-off results is included on page 10.
[HUG#1456737]
The full press release including appendices is included as PDF file.:
http://hugin.info/130803/R/1456737/396599.pdf
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Source: USG People NV via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 29.10.2010 - 07:00 Uhr
Sprache: Deutsch
News-ID 47125
Anzahl Zeichen: 0
contact information:
Town:
Almere
Kategorie:
Business News
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