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Chargeurs — Earnings Release 2009
May 7, 2009
1197_10-q_2009-05-07_3fb223bc-b41c-4c75-bf57-a380594417bc.pdf
Earnings Release
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Financial Information - First Quarter 2009
Significant events
The global economy is still in the midst of a major upheaval, and the sharp market downturn that began affecting the Group's three businesses in September 2008 worsened in early 2009.
First quarter business and revenue
Consolidated revenue
| In euro millions | First quarter | |
|---|---|---|
| 2009 | 2008 | |
| Chargeurs Protective Films | 32 | 51 |
| Chargeurs Interlining | 41 | 57 |
| Chargeurs Wool | 40 | 57 |
| TOTAL | 113 | 165 |
Consolidated revenue declined 31.5% from the first quarter of 2008. At Chargeurs Protective Films and Chargeurs Interlining, revenue was dragged down by falling volumes, while at Chargeurs Wool, performance was weakened by lower wool prices.
First quarter earnings and financial position
The first quarter saw a consolidated operating loss of €5.1 million, versus income of €4.6 million in the year-earlier period. The shortfall was attributable to Chargeurs Protective Films and Chargeurs Interlining, which were both affected by the significant volume contraction in Europe. Chargeurs Wool, on the other hand, improved its operating results during the first quarter.
May 7, 2009
Corporate Communications Tel. 01.71.72.31.65 – www.chargeurs.fr