Sustained growth in the first half of 2008: 15.5%

21/07/08 - Outlook confirmed

 

Audika Group posted EUR 51.6 million in revenue for the first half of 2008, up 15.5% including 6.6% in organic growth, in line with its business strategy.

 

(in EUR thousands) under IFRS	2007	2008	Change
First quarter	19,970	23,329	+16.8%
Second quarter	24,720	28,304	+14.5%
First half	44,690	51,633	+15.5%

 

 

In France, the Group generated revenue of EUR 49.0 million for the same period. This increase of nearly 10% strengthened the Group’s leading position in France, in what remains a strong-growth market. Marketing initiatives undertaken during the first half of the year proved effective as is borne out by the number of prospective customers.

 

In Italy, half-yearly revenue was on target at EUR 2.6 million. Building on this performance, Audika Group is actively pursuing the development of its network structure of 15 centers so that the next phase of expansion can be undertaken under the best conditions in the coming months.

 

 

Reinforcement of the network in France with 11 new centers (6 acquisitions, 5 openings)

 

Audika Group is actively pursuing the development of its French network with the acquisition of 6 new centers early in the second half, thus adding to its existing network in the regions of Franche Comté (2 centers), Provence-Alpes-Côte d’Azur (1 center), and Rhône Alpes (3 centers). The new acquisitions are expected to bring in an additional EUR 1 million in yearly revenue, and were consolidated as of July 1, 2008.

 

Meanwhile, the Group continues to expand its national coverage with the opening of 5 new centers in the regions of Centre, Nord, Brittany, and Provence-Alpes-Côte d’Azur (2 centres).

 

With 25 new centers since the start of the fiscal year (13 acquisitions and 12 openings), Audika now boasts over 370 centers in France. Its initial target of 500 centers is quickly becoming a reality. Other acquisitions are in the pipeline, some at an advanced stage.

 

 

2008 outlook confirmed

 

Building on its first half performance, Audika Group reiterates its 2008 targets of revenue exceeding EUR 108 million and a recurring operating margin of at least 19.5% of revenue.

 

 

Audika’s 2008 half-yearly results will be published on September 2, 2008.

 

 

About Audika:

With 370 centers in 80 different regions and a 14% 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 environment, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. The Group recently undertook international development by successfully creating a network of centers in Italy. Audika is listed on Euronext Paris, compartment B, CAC Small 90.

 

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ISIN FR0000063752-ADI Reuters DIKA.PA Bloomberg ADI:FP

Number of shares: 9 ,450,000

 

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

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