Activity continues to improve in Q4 2009 Revenues up 10.4%

18/01/10 - Seven new centers since January 1,2010

 

Organic growth of 4.0% in Q4 2009

 

Audika Group recorded sales of EUR 34.2 million in Q4 2009, up 10.4% on the previous year. This performance comes from a sharp improvement in organic growth to 4.0%, particularly in France, and the integration of recently acquired centers in both France and Italy.

 

(in EUR thousands)	2008	2009	Change
H1 revenues	51,633	51,620	-0.1%
Q3 revenues	19,197	20,709	+7.9%
Q4 revenues	30,973	34,196	+10.4%
Full-year revenues	101,803	106,525	+4.6%

 

Financial year 2009: activity holds up well and 47 new centers

 

After a difficult start to the year, ongoing marketing drives and the Group’s sales dynamic enabled activity to progressively and substantially improve quarter after quarter. As such, the Group closed out 2009 with full-year revenues of EUR 106.5 million, an increase of 4.6% (-2.1% in organic terms, of which -6.4% in the first half of the year and +2.3% in the second half).

 

In France, Audika Group generated revenues of EUR 98.3 million, up 1.7% (-2.3% in organic terms). A total of 24 new set-ups and acquisitions reinforced Audika Group’s French network in 2009, enabling Audika to easily surpass the 400 center mark and move towards the Group’s target of 700 centers

 

In Italy, Audika generated revenues of EUR 8.2 million, driven by network development, which has seen the Group’s number of centers increase from 23 to 46 in one year. Italy now represents almost 8% of the Group’s revenues compared to 5% in 2008.

 

Bolstered by buoyant activity over the second half of the year, Audika Group is confident that it can maintain high operating profit for the 2009 financial year.

 

Outlook for 2010: Continued growth, seven new centers already

 

Since the beginning of 2010, Audika has continued to reinforce its network coverage in France with the acquisitions of three centers in the Cantal, Lozère and Hautes Alpes regional departments. Additionally, these are Audika’s first centers in the latter two regional departments, as the Group continues to pursue its objective of complete national coverage. These centers will generate EUR 0.4 million in additional revenues in 2010. In line with its strategy, Audika also set up four new centers in the Alsace, Brittany (2) and Rhône Alpes regions.

 

In France, Audika Group intends to continue its development in 2010, drawing on the fundamentals of its market (natural growth of the target population), its expertise in winning over new customers and the ongoing development of its network.

 

As Audika has achieved its development target one year ahead of schedule in Italy, the priority will now be to drive internal growth and optimize profitability.

 

Audika intends to continue its growth in 2010 with a favorable comparison base in the first half of the year, while maintaining a high level of profitability.

 

Audika Group will publish its 2009 full-year results on March 23, 2010.

 

About Audika:

 

With more than 400 centers in 86 different regions and a 14% market share, Audika is the number one network offering hearing correction consulting and solutions in France. The Group recently undertook international development, successfully creating a network of almost 50 centers in Italy.  Positioned on the market for hearing correction solutions for senior citizens, Audika aims to consolidate its leadership in a sector that remains very highly fragmented. Audika is listed on Euronext Paris, Segment B and the SBF 250, CAC Mid & Small 190 and CAC Small 90 indexes.

 

If you would like to receive free financial information on Audika by e-mail, go to: www.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
Actus Finance contact: Guillaume Le Floch on +33 (0) 1 72 74 82 25