Make sure to view the video message by Bruno Segers about the half year figures on www.youtube.com/realdolmen
RealDolmen, the independent single source ICT solutions provider and knowledge company, announces results for the six months ended 30 September 2009 which are in line with prior forecasts. The result shows the expected revenue decrease. We are pleased to note that the related REBIT decrease has partially been mitigated by integration synergies and optimization benefits that start to be reflected in the numbers.
Highlights
- 10% revenue decrease in the Services and Solutions business and 26% decrease in Infrastructure products business due to the economic slowdown
- REBIT margin of 3,2%: Impact of the revenue decrease has been partially compensated by the benefits of the integration synergies and optimization coming through
- Positive cash flow generation of €6,2m even after €2,2m of restructuring charges and further investments in strategic programs to better position the company for the long term
- Sound financial structure with €15,7m of net debt
- Strong cash position of €39,3m
- Creation of one administrative platform with fully integrated operations and optimized processes as certified by ISO9001
Bruno Segers, Chief Executive Officer of RealDolmen, commented:
“The trend of the first quarter has continued. While the rate of decrease in revenues has reduced, market visibility remains unclear. New infrastructure projects continue to be postponed resulting in a substantial drop in revenues in the product business. Our services business was less impacted but companies continue to focus on short term cost cutting measures. Margins have dropped several points but we closed the first half with a positive operating result and a solid cash position.
“Despite a difficult economic climate, we were able to generate cash and we saw the first benefits from integration synergies and optimization coming through. Our vision of becoming a true independent single source ICT solutions provider with both general and specialist skills continues to get more and more traction. To realize this vision we have aligned our sales force around market segments and we have decided to maintain our high potential billable workforce notwithstanding lower demand. The integration of both companies has enabled us to retain the highest possible quality workforce. The ISO 9001 certification of our processes provides us with sound proof that the completed integration has been a success and that we have in place a sustainable framework for growth going forward. We anticipate that the market will continue to be uncertain for the next six months but we feel confident that we have the right organization in place to cope with all the possible challenges and opportunities ahead given we have a strong balance sheet and continue to manage our cost base tightly.”
For more information:
View the video message by Bruno Segers about the half year figures on www.youtube.com/realdolmen
For the full press release, visit our website WWW.REALDOLMEN.COM
or contact
Thierry de Vries
Secretary-general
TEL.: +32 2 362 55 55
FAX: +32 2 362 55 99
thierry.devries@realdolmen.com
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