Revenue for the first quarter of 2010 up 9.1%

12/04/10

 

The first quarter of 2010 continued in a similar way to the fourth quarter of 2009, confirming the Group’s positive trend. First-quarter revenues totaled EUR 24.5 million, up 9.1%, including organic growth of 3.2%.

 

(in EUR thousands)	Q1 2009	Q1 2010	Change
Revenue	22,501	24,545	+ 9.1%

 

This trend is particularly apparent in France where Audika generated revenues of EUR 22.6 million, an increase of 8.9%, including organic growth of 4.7%. As such, the Group is continuing to reap the rewards of its commercial and marketing investments.

 

Audika generated revenues of EUR 1.9 million in Italy, an increase of 10.8%, underpinned by favorable scope effects of EUR 0.4 million. Like for like, the trend was obviously disrupted by the current reorganization of internal procedures and the major training program implemented in the first quarter to increase the productivity of hearing aid practitioners. The Group intends to benefit from these initiatives over the coming quarters.

 

French network strengthened with seven new centers

 

Audika Group is continuing to actively develop its French network and is announcing the acquisition of four new centers - three in Brittany and one in Provence-Alpes-Cote d’Azur. These centers will generate additional revenue of EUR 0.5 million over a full year. At the same time, Audika has just set up two new centers in the Hautes Alpes and one in the Territoire de Belfort region, in order to strengthen the Group’s network coverage.

 

With 14 new centers acquired or set up since the beginning of the year, Audika is perfectly in line with its development plan, which aims to acquire or set up 30 to 40 centers in France this year.

 

2010 outlook confirmed

 

Strengthened by its solid start to the year, Audika is confident of being able to continue its successful development model in 2010, combining growth and high profitability.

 

Audika Group will publish its revenues for the first half of 2010 on July 19, 2010 after market close.

 

About Audika:

 

With more than 410 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 at +33 (0) 1 55 37 30 30
Actus Finance contact: Guillaume Le Floch at +33 (0) 1 72 74 82 25