Strong increase in activity in Q3 2002

14/11/02 - up 37% to EUR 9 million

 

Acceleration in growth in Q3 2002

 

Over the third quarter of 2002, Audika Group realized sales of EUR 8.97 million, thereby enjoying a strong increase in activity on Q3 2001 (+36.6%).

 

Like-for-like, growth stood at 14.5%, with the Group benefiting fully from the first effects of the launch of new product ranges and the fact that stereo hearing aids are now reimbursed by the French state.

 

Sales in EUR M	2001	2002	Change
Q1	8.14	8.72	+ 7.1%
Q2	8.74	10.37	+ 18.7%
Q3	6.57	8.97	+ 36.6%
TOTAL	23.44	28.06	+ 19.7%

 

Sales over nine months: up 20% to EUR 28.1 million

 

Over the first nine months of 2002, and in line with its yearly targets, Audika generated sales of EUR 28.1 million, an increase of nearly 20% on the previous year. Like-for-like, growth stood at +8.6%.

 

 

Outlook

 

Audika has confirmed its target sales of at least EUR 43 million for an operating profitability in excess of 15% in 2002.

 

In 2003, Audika expects to maintain organic growth above market levels and plans to carry out a number of acquisitions. Given the number of targets already identified, Audika's acquisition program benefits from a high level of visibility.

 

 

About Audika:

 

With more than 230 centers in 69 different regions and an 11 % market share, 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 situation, Audika aims to consolidate its leadership in a sector that remains very highly fragmented.

 

Euroclear 6375

Reuters DIKA.PA

Bloomberg ADI

Number of shares: 3,150,000

 

 

Audika contact: Alain Tonnard on +33 (0)1 55 37 30 30

Equity Conseil contact: Laurence Marquézy on +33 (0)1 45 22 22 30



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