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RealDolmen Trading Update Q1

Freitag, 21.08.2009 07:50

RealDolmen, the independent single source ICT solutions provider and
knowledge company, announces trading update for the first three
months ended 30 June 2009.
Highlights
§ Turnover reduces by 17,8% in first quarter compared to last year
mainly due to delayed decisions around infrastructure products
§ Integration of acquisition has been completed, with synergies and
benefits of a cost optimization programme coming through in this
fiscal year as anticipated
§ Ongoing focus on accretive acquisitions based on solid cash
position
 
Bruno Segers, Chief Executive Officer of RealDolmen, commented:
 
"During the first quarter of the new fiscal year we saw a
prolongation of last year's trend indicating that the market has yet
to stabilize. Although the slowdown in turnover was anticipated, the
extent of the slowdown was greater than forecast due to the
persistent weakening of the macroeconomic environment. Within our
installed base, we've experienced continuing pricing pressure and a
tendency for customers to shorten or delay existing projects. The
substantial drop in our infrastructure products revenues confirms the
fact that new projects are being put on hold whilst companies focus
on short term cost savings.
 
For the first half we expect to face a continued reduction in
revenues year on year, which will accordingly impact operating
results. We expect continued weakness in the second quarter but
anticipate a slight improvement on the first quarter. Our current
expectations are for an improved second half with a return to a
stronger operating performance following the reorganization of our
sales team and synergies coming through following the completion of
the integration. We feel confident that we can keep the impact on our
margins broadly limited as we continue to manage our cost base
tightly and see the benefits of our optimization efforts coming
through. Despite a tougher economic environment, the integration
process has been successfully completed and we now have established a
single sales force, organized by market segment, which will drive
organic growth via cross-selling to existing customers and quicker
wins in new areas. With our strong balance sheet and good cash flows
we are targeting selective bolt-on acquisitions, allowing us to
strengthen our solutions portfolio and/or to broaden our regional
coverage over the next 12 months."
 
Enquiries:
 
RealDolmen Tel: +32 3 290 23 13
Bruno Segers, CEO
 
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.