Revenue up by 16.8% in the first quarter

14/04/08 - Seven new centers in France

 

Audika posted an excellent performance in Q1 2008, with revenue of EUR 23.3 million, up 16.8 % on the previous period and including internal growth of 5.8%. In line with its development plan, the Group continues to boast buoyant growth in the persistently active markets in both France and Italy.

 

Revenue breaks down to 95.2% for France and 4.8% for Italy. The eight centers acquired in March (two in France, six in Italy) only partly contributed to revenue in the first quarter of 2008.

 

In EUR thousands	Q1 2007	Q1 2008	Change
Revenue	19,971	23,329	+16.8%

 

Continued rapid expansion of the French network

 

Audika Group announced that it finalized the acquisition of five new centers, including three in the Paris area - Sèvres, Meudon and Saint-Cloud at the beginning of April. The other two centers are located in Villefranche de Lauragais and Gaillac in the Midi Pyrénées region. These centers are expected to contribute additional revenue of over EUR 0.5 million in 2008 and over EUR 1 million in 2009.

 

The Group is also pursuing its nationwide expansion, opening two new centers in Nevers in the Burgundy region and Evreux in Upper Normandy. Now with 14 new centers, seven acquired and seven created, in France since January 1, 2008, the Group is actively developing its geographic coverage, boasting a network of more than 365 centers. Audika is progressively working towards its medium-term target of 500 centers.

 

 

2008 targets confirmed

 

The strong Group activity in the first quarter and the contribution of the new centers acquired confirm the Group’s 2008 targets for revenue of over EUR 108 million and recurring operating margin of at least 19.5%.

 

Given the extremely fragmented market, with over 2,000 centers in France and nearly 500 in Italy that are still independent, Audika retains a portfolio of potential targets, some of which are in the advanced stages of negotiations.

 

Audika Group will publish its revenue for the first half of 2008 on July 22, 2008 after the close of the markets.

 

 

About d’Audika :

 

With over 365 centers in 80 different regions and a market share of 14%, 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 is listed on Euronext Paris, Segment B. CAC Small 90 index.

 

If you would like to receive financial information on Audika by e-mail, register at
http://finance.audika.com

 

ISIN FR0000063752-ADI Reuters DIKA.PA Bloomberg ADI:FP
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 - 15/04/08