Lavide Holding N.V.
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Publicatie datum
29 jan 2010 - 07:11
Statutaire naam
Lavide Holding N.V.
Titel
Qurius Preliminary Results 2009
Bericht
QURIUS PRELIMINARY RESULTS 2009
(Unaudited; publication of definitive results 2009 on 18 March 2010)
(in EUR x 1,000)
Preliminary results, unaudited 2009 2008 Change %
Net sales* 117,177 126,187 -7.1%
Gross margin* 78,883 84,008 -6.1%
EBIT (before restructuring costs)* 1,251 3,323 -62.3%
Restructuring costs 2,119 1,256 68.7%
Impairment of goodwill 2,042 19,004 -89.3%
EBIT* -2,910 -16,937 82.8%
Financial income and expenses, taxes -3,346 -3,397 1.5%
Discontinued operations -1,416 -2,161 34.5%
Net result after taxes -7,672 -22,495 65.9%
* Figures are excluding the discontinued activities in 2009 of Denmark, Sweden and Norway
29 January 2010 – In the fourth quarter of 2009, lower than expected sales, deteriorating payment performance of customers in Spain, and restructuring costs have led to an EBIT of EUR minus 3.2 million. Qurius the Netherlands, where the results of the previously taken cost saving measures became apparent, performed well. Qurius ends the year with a strong cash position.
In the fourth quarter, Qurius Spain was confronted with the consequences of deteriorating payment performance, following a further worsening of the economical circumstances. This has led to a provision for outstanding accounts receivable of EUR 0.7 million. Spain’s adjusted lower forecasts have also led to an impairment on goodwill of EUR 2 million and a charge off deferred tax assets for Spain of EUR 1 million.
Although the Dutch operation has reported lower net sales, this effect was amply compensated by substantially lower costs following earlier cost reductions and optimization of the services.
Across all countries restructuring measures have resulted in a non-recurring charge of EUR 2.0 million, of which EUR 1.7 million was caused by redundancy plans.
The strong cash position enabled Qurius to meet its debt service obligations for the full year by the end of 2009. Qurius expects to be able to solve the effects of the di
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