A very strong 2007

22/01/08 - Revenues above targets at EUR 92.7 million

 

Audika Group posted a solid fourth quarter in 2007 with revenues of EUR 29.7 million, up 15.5% on the previous year. Internal growth for the quarter came out at 6.3%, in line with the Group’s development plan, and highlighted the smoother running of business in the third and fourth quarters. As such, internal growth for the second half of the year came out at 10.9%, an increase on the 9.1% recorded for the first half.

 

In EUR thousands	2006	2007	Change
First quarter	18,055	19,97	+10.6%
Second quarter	21,21	24,72	+16.6%
Third quarter	14,046	18,274	+30.1%
Fourth quarter	25,731	29,709	+15.5%
Full-year total	79,042	92,673	+17.2%

 

 

Full-year targets exceeded and high confidence on margins

 

Following this buoyant fourth quarter, Audika Group posted full-year revenues of EUR 92.7 million which was above expectations and represents overall growth of 17.2%. This performance is based on:

 

• internal growth of 10.0% which is the highest figure recorded by Audika in four years. This level of growth which is significantly higher than the market as a whole is clear evidence that the Group has increased its market share in France;
  

  

• the contribution of recent acquisitions in France and in Italy where the Group’s launch has exceeded expectations generating revenues of EUR 0.9 million.

 

Bolstered by this very strong level of activity, Audika is confirming its target of a higher recurring operating margin than the figure posted for the first half of the year.

 

 

Three new centers set up in France and two in Italy in early 2008

 

With 2008 only just beginning, Audika is already announcing the setting up of three new centers in France in Soissons (Picardy), Rambouillet (Paris region) and Roanne (Rhône Alpes).

 

In Italy, Audika is announcing the setting up of two new centers in Rome, thereby adding to its network in the Italian capital where the Group now has eight centers.

 

 

Positive outlook for 2008

 

In a high-growth market driven by technological developments and the inevitable ageing of the population, Audika Group will actively pursue growth in 2008 in both France and Italy.

 

Drawing firstly on the ability it has demonstrated to outperform the market and secondly on growth generated from acquisitions made in 2007, Audika Group has set itself a 2008 full-year revenue target of around EUR 106 million, excluding the impact of forthcoming acquisitions.

 

Audika will aim to actively continue the development of its network in both France and Italy in 2008 (through new set-ups and acquisitions) and already has a substantial portfolio of targets. Further acquisitions should be finalized over the first half of the year.

 

Audika Group will publish its 2007 results on March 27, 2008.

 

 

About Audika :

 

With over 350 centers in 80 different regions, Audika is the number one network offering hearing correction consulting and solutions in France. Positioned on the market for hearing correction solutions for senior citizens, which is not affected by changes in the economic environment, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. Audika began its international development in Italy in 2007. Audika is listed on the Eurolist SMALL 90, segment B.

 

If you would like to receive free financial information about Audika by e-mail, go to www.audika.com

 

ISIN FR0000063752-ADI

Reuters DIKA.PA

Number of shares: 9,450,000

 

Audika contact: Alain Tonnard / Etienne Sirand-Pugnet on +33 (0)1 55 37 30 30

Kaparca Finance contact: Guillaume Le Floch on +33 (0)1 72 74 82 25

KAPARCA FINANCE - 22/01/08