DANE-ELEC MEMORY : First half 2009 revenues: Eur 72.6 million



P ress Release

Paris, July 21, 2009

First half 2009 revenues: ¤72.6 million

DANE-ELEC Memory, which manufactures and distributes digital products (Dram, external hard drives and handled products), has published its revenue figures for the first half of 2009.

Consolidated data

 ¤m (unaudited data)
2008 2009
1st quarter 41.6 33.0
2nd quarter 36.5 39.6
1st half 78.1 72.6

In the first half of 2009, the Dane-Elec Memory group generated revenues of ¤72.6 million compared with ¤78.1 million a year earlier. Foreign currency effects had a positive impact of ¤4.2 million.

Mass storage products (Flash memories and external hard drives) accounted for 90% of activity at end-June, compared with 5% for Dram modules and 5% for the distribution of handled products via Intervalle.

On a geographic breakdown, Dane-Elec Memory generated 49% of its half-yearly revenues in Europe, 40% in the United States and 11% in the Asia/Middle East area.

Comments on the period

Following a downturn in activity in the first quarter, the second quarter of FY 2009 was marked by an 8.4% increase in revenues (+1.6% at constant exchange rates) due to a particularly sustained increase in activity in June, mainly in the United States. In addition to the success of the range of products marketed under the Duracell brand name, the group also received substantial orders from leading manufacturers for B2B sales as a result of its NoLimit Memory on-line data back-up service. This demonstrates the validity of Dane-Elec's R&D policy, which significantly strengthens its competitive differentiation vis-à-vis other sector players.

Since the start of the year, the innovative products developed by the group, namely its So by Dane-Elec external hard drives, its Dane-Elec Music digital music players and Zpen digital pen, have contributed some ¤10.3 million to consolidated turnover, generating growth of close to 50% in the space of twelve months.

The market environment continues to be difficult, however. Competitive pressures are still fierce and sales activity is penalised by the harsher stance taken by credit insurers as regards some of our customers.

In view of the environment, Dane-Elec Memory remains focused on improving its financial situation. As at 30 June 2009, the group had reduced its short-term debt (cash in hand - overdrafts) to ¤3.2 million, compared with ¤6.6 million as at 30 June 2008.

Next publication: 31 August, after close of trading, for first-half 2009 results.

About DANE-ELEC Memory

Founded in France in 1985 by David Haccoun and Nessim Bodokh, Dane-Elec Memory is an international company headquartered near Paris. The company specialises in the manufacture and distribution of digital products: Drams, external hard drives and handled products.

Since it was founded, the group has seen steady growth and is a European leader in its sector. As a global player, Dane-Elec Memory operates in Europe, the United States, Asia and the Middle East. The group has a Dram manufacturing and assembly plant in Ireland, three assembly units (in the United States, Ireland and France), and two packaging logistics platforms, one in the United States and one in France, making it extremely responsive to demand.

In parallel, Dane-Elec Memory also has a handled product distribution subsidiary (via Intervalle).

In 2008, Dane-Elec Memory generated revenues of ¤162 million.

Dane-Elec Memory is listed on Euronext Paris, Segment C.

ISIN: FR000036774, Mnemo: DAN, REUTERS: DEMY.

Full financial information at www.dane-elec.fr or at www.actus-finance.com

¢ Actus Finance contacts:

Shareholders / Analysts / Investors :                                        Journalists:

Jérôme Fabreguettes-Leib                                                    Nicolas Bouchez

Tel.: + 33 1 77 35 04 36                                                          Tel.: + 33 1 77 35 04 37

jfl@actus.fr                                                                          nbouchez@actus.fr

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