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DELFINGEN Industry — Earnings Release 2009
Aug 12, 2009
1252_iss_2009-08-12_b0950cab-650b-4cf1-a656-bd02f291d316.pdf
Earnings Release
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2 0 0 9 f i rst h a l f - y e a r
August 12th, 2009
S h a r p a c t i v i t y r e s u m p t i o n d u r i n g t h e s e c o n d q u a r t e r
| In millions of euros |
2009 | 2008 | Variation | Variation excluding currencies effect |
|---|---|---|---|---|
| Sales | 34.1 | 51.5 | - 33.8% |
- 37.5% |
| Of which: Europe-Africa-South America (EAAS) |
19.3 | 30.5 | - 36.7% |
- 36.7% |
| North America Central America-Asia (ANCA) |
14.8 | 21.0 | - 29.5% |
- 38.6% |
During the 2009 first half-year, the fall of automotive markets compared to 2008 reached -49% in America and -27% in Europe. An improvement appeared however in Europe during the second quarter with an increase of +24% compared to the first quarter.
In this context, the sales of the Group Delfingen Industry strongly recovered during the second quarter (+21% compared to the first quarter 2009).
The sales of the first half-year 2009 remains however lower than during the first half-year 2008, because of the impact of: • the fall in the activity (-44%)
• the increase of market parts linked to the acquisition, in the middle of March 2008, of the 'wiring harness protection' division of M&Q (+6%)
• the increase of the dollar parity to the euro (+4%)
In the European area, the sales rose by +46% between the first and the second quarter 2009. The decline of the first half-year compared to the first half-year 2008 (-37%) is however higher than the one of the market (-27%), mainly due to the car manufacturers and the OEMs destocking, that highly impacted the first quarter activity. Yet, this destocking only impacted slightly the second quarter.
In the American area, the fall due to the market (-51%) is partially compensated by the increase of market parts linked to the acquisition of M&Q (+12%).
After having secured its financings, up to the end of 2011, the Group Delfingen Industry goes on adjusting its organization and its production capacities, while taking into account the first halfyear delay on its breakeven goal. The Group enters then the 2009 second half-year with serenity.
The global leader in protection and fastening of wiring harnesses 900 employees in the world Euronext Paris, compartment C – ISIN code: FR 0000054132 – Mnemonic: DELF
Contact: Mrs Dominique Monange: +33 (0)3.81.90.73.00 – www.delfingen.com