VDI GROUP : 2007 half-year results - Annual objectives confirmed

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Consolidated income statement (1st January - 30th June) - non-audited

In millions of euros 30/06/2007 30/06/2006(1) 30/06/2006
Pro forma (2)
Turnover 21.55 15.45 19.61
Operating income 1.43 1.08 1.70
Current income 1.21 0.94 1.59
Net result before the depreciation of goodwill   0.79 0.49 0.93
Net income 0.47 0.32 0.61

(1) Including the group France Ouate Industrie acquired on 15th May 2006 over 1 and a half months.

(2) Including the group France Ouate Industrie over 6 months.

In H1 2007, VDI Group pursued its development plan with organic growth reaching 9.9%. This increase in activity falls perfectly in line with the Group objectives for the financial year overall.

Streamlining of facilities generating economies of scale

In the context of the integration of France Ouate Industrie, VDI Group implemented a programme to streamline its logistics facilities which resulted in the entire inventory of France Ouate Industrie, currently based in Carros (06), being pooled on the Corbas (69) site. These one-off expenses (development costs and site expansion costs, one-time staff costs, transport, IT costs, etc.) are valued at approx. ¤300K over the period. The expected benefits of this reshuffle are optimised inventory management, reduced logistics and transport costs, as well as more efficient shipping. This streamlining is expected to provide a return on investment after 12 months.
Over the period, additional sales recruitments were also initiated and will generate results from the second half onwards.

Over the half, the operating margin came out at 6.6%. Excluding one-time costs, it would be 8%.

The balance-sheet structure remains sound with shareholders' equity of ¤11.43m for net financial liabilities of ¤7.89m, giving a net debt/equity ratio of 0.69.

Promising outlook and confidence for the financial year overall
 
For the financial year as a whole, VDI Group maintains its objective of raising the turnover through organic growth of 9 to 11%.

The operating margin of the second half would enable the company to come back to a more standard rate of approx. 8% over the entire 2007 financial year.



A propos de VDI Group

Set up in 1996, VDI Group mainly operates in the area of catalogue-based,direct sellingof consumable products to companies, professionals and organisations (BtoB), as well as to private individuals (BtoC). VDI Group is active on two markets through two divisions:

  • "Health and Safety at Work" which markets and sells items linked to occupational health, hygiene and safety.
  • "Portable Energy" which designs and distributes all types of batteries, chargers, adaptors and portable lighting products.

VDI Group pools the brands:

Health and Safety at Work Division: Portable Energy Division:
PRORISK           France Ouate Industrie 1000 & Une Piles          allbatteries

VDI Group has been developing through organic and external growth since its creation. This strategy has enabled it to broaden its product offering, gain a foothold in new market segments and step up its international expansion.
VDI Group has 269 employees to date and posted a 2006 pro forma turnover of ¤38.61 (including on 1st January 2006 France Ouate Industrie acquired on 15th May 2006 over 12 months).


Contacts:
VDI Group
Christian Dutel - Chairman of the Board of Directors
Tel: 00 33 (0)4 72 52 20 00 - finances@vdi-group.com

Actus Lyon
Amalia Naveira - Analyst/Investor Relations - Tel: 00 33 (0)4 72 18 04 97 - anaveira@actus.fr
Marie-Claude Triquet - Media Relations - Tel: 00 33 (0)4 72 18 04 93 - mctriquet@actus.fr


VDI Group has been listed on Alternext by Euronext Paris - code ISIN n°FR0010337865 © Copyright Actusnews Wire
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