1er SEMESTRE 2008

SATISFACTORY RESULTS

 FOR THE 2008 FIRST-HALF

 

25 September 2008

 

The Board of Directors' meeting held on 25 September 2007 approved the interim financial statements for the six-month period ended 30 June 2008.

 

  € millions

H1 07

H1 08

Change

Sales

81.30

87.04

+7%

Gross margin (%)

71.0%

70.5%

-0.5 pts

Current operating income

6.80

8.71

+28%

     As % of sales

8.4%

10.1%

 

Operating profit

6.52

7.93

+22%

Net financial expense

(0.63)

(0.28)

- 55%

Net income before minority interests

4.13

5.31

+28%

Net income

4.01

5.41

+35%

     As % of sales

4.9%

6.2%

 

 

Consolidated net sales grew 7% in the 2008 first half, sustained by the expansion of international operations that accounted for 65% of total revenue.

The B-to-B division performed well with sales advancing 10% while the B-to-C division, adversely affected by the downturn in construction and renovation in the real estate market, grew 2%.

 

Earnings growth

In the 2008 first half, current operating income expanded 28% to €8.71 million compared with €6.80 million for the equivalent prior-year period. Net income grew 25% to €5.41 million.

Operating cash flows increased to €9.07 million from €7.68 million at 30 June 2007.

Finally at 30 June 2008, the Group's gearing declined to 7% from 29% at the end of last year's first half.

 

Outlook

For the full year, given the deteriorating economic environment, Sécuridev anticipates growth in sales of 4% and current operating income in line with the level achieved in 2007.

 

 

The presentation of Sécuridev results can be consulted at the website www.securidev.com

 

Press release: 2008 third-quarter sales – November, 7th  2008

 

ISIN FR0000052839 - Reuters SECF.PA – Bloomberg SEC

 

Contacts :

SECURIDEV                   Pierre -Paul Fini         Tel: +33 (0)1 46 22 09 00

Asset Com                   Laurence Costes       Tel: +33 (0)1 45 53 10 55

Sécuridev is a leading European specialist in locking systems and equipment with three core businesses: access control systems, locking devices for equipment and building locking systems..