Growth of over 20% in 2002

11/02/03 - EUR 42 million in sales

 

EUR 14 million for the fourth quarter of 2002

 

Sales for Audika Group in the fourth quarter of 2002 totaled EUR 13.99 million, up 21.6% on Q4 2001 and a record high in terms of Group activity over a single quarter.

 

Like-for-like, growth also proved strong at +11.7%.

 

 

2002 sales: +20.3% to EUR 42 million

 

For 2002 as a whole, Audika generated sales EUR 42 million, an increase of over 20% on the previous year. Like-for-like, growth stood at +8.2%.

 

This minor discrepancy on the Group’s target figure of EUR 43 million is essentially due to the delayed signing of a number of acquisitions (announced at the beginning of January 2003), and the Group’s strategic decision to play down its marketing policy in the last three months of 2002 in order to ensure maximum impetus for its new publicity campaign at the start of 2003.

 

 

Integration of 4 franchised centers in the Loir & Cher region

 

In line with its strategy to gradually repurchase its franchised entities, Audika has integrated four centers from its branch network. This strategy has the dual advantage of affording the Group a better control over its network and enabling it to optimize its operations.

 

The integration of these centers, which are located in the Loir & Cher region (Blois, Vendôme, Romorantin and Montrichard), should generate a further EUR 0.3 million in sales for the Group over a full year.

 

 

Acquisition of 3 centers in Aquitaine

 

In line with the Group’s strategy to complete its coverage of the region of Aquitaine over the course of 2002, Audika has acquired three new centers around Arcachon (La Teste and Arès) as well as to the north of the Landes region (Biscarosse).

 

These three centers should generate approximately EUR 0.3 million in sales over a full year and will be consolidated within the Group’s scope as of February, 1.

 

Audika now has eight centers in the Aquitaine region.

 

 

Promising response to the new publicity campaign

 

Audika Group’s latest publicity campaign which is centered on a prominent personality in France (Robert Hossein) has gotten off to an excellent start.

 

In fact, the campaign (TV and press), which was launched at the beginning of January, has already triggered a major increase in the number of queries prompted by the Group’s advertising (+70%).

 

 

Outlook for 2003

 

Throughout 2003, Audika’s heightened marketing policy should act as a sound lever for Group sales and enable the company to significantly improve on organic growth in relation to 2002.

 

Moreover, this organic growth will be complemented by Audika’s tried and tested and ever-successful acquisitions strategy. Since the beginning of 2003, Audika has already acquired 11 new centers and integrated 4 franchised centers. Given the number of targets already identified, Audika's acquisition program benefits from a high level of visibility.

 

Audika Group will publish its 2002 results on March 25, 2003.

 

 

About Audika:

 

With some 250 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.

 

Audika is listed on the Nextprime, MidCAC and Second Marché indexes.



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



If you would like to receive financial information by e-mail, contact: www.equityinfos.com or www.audika.com