HF Company

Earnings Release • Oct 20, 2009

14% growth of sales to €33.4 m in Q3-2009

HF Company's consolidated sales came to €33.4m in the third quarter of 2009, up 14.0% from Q3-2008.

Sales, €m	Q3-09	vs Q3-08	9 months 09	vs 9 months 08
TV Reception	13.6	+63.9%	37.5	+35.9%
Office Automation Ergonomics	7.3	-9.9%	26.5	+0.8%
Multimedia	4.4	+4.8%	13.8	-
B2C activities	25.3	+22.8%	77.8	+14.9%
Broadband	8.1	-6.9%	26.8	-16.8%
Consolidated sales	33.4	+14,0%	104.6	+4.7%

Good Q3 results

In line with forecasts, the B2C division recorded strong sales growth of 22.8% in the third quarter, propelled by renewed growth at the international TV Reception business since the beginning of the year. The group turned in good results in Italy and Spain, both of which are switching this year from analog to digital technology.

After 14 consecutive quarters of growth, the Office Automation Ergonomics arm reported a small dip last summer. However, this blip remained insignificant compared with the lacklustre European consumption environment. The Multimedia business continued to do well, helped by the success of PLC in both the Telecoms Operators and Mass Consumption markets.

Broadband results were bottoming out owing to a less negative base effect. Pending a significant recovery of global telecommunications investments, the group will continue to pay close attention to this activity and give priority to the preservation of satisfactory margins.

Outlook

The group's positive outlook for the short, medium and long term is strengthened by the acceleration of annual growth in the third quarter.

About HF Company: HF Company is a major player in the market for TV reception, digital peripherals and office automation ergonomics. The Broadband division is the world leader in Splitters. HF Company is listed on Eurolist (compartment C) and has been awarded OSEO ANVAR's innovative business label.