| UR Holding S.p.A. has published its nine-month report for the 2007 financial year |
2007-12-13 at 19.23 hours
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• Revenues almost unchanged at EUR 36.8 million in first nine months
• EBIT of EUR 1.01 million
• Geographical expansion advanced
Milan, 13 December 2007: UR Holding S.p.A. has published its nine-month report for the 2007 financial year. At 36,813 EUR/K, revenues remained at the previous year’s level of 37,162 EUR/K. In the reporting period, EBIT amounted to 1,007 EUR/K, which was less than the 1,738 EUR/K reported in the same period of the previous year. At 2,408 EUR/K, the Company’s liquid assets were considerably higher than in the same period of 2006 (1,044 EUR/K). The equity base increased considerably in comparison to the first nine months of 2006. At the end of the first nine months of the 2007 financial year, the equity ratio was 38.2% compared with 20.7% in 2006.
Investments in expanding the international market position, already established in 9 countries, are reflected in the earnings development of the first 9 months of 2007. The strategy of expansion, which is dominated by medium to long-term goals within the Group, resulted in start-up costs which were deliberately incurred. The acquisition of the Austrian B.E.S.T. Electronics Distribution GmbH is confirmation of the management’s strategy. In addition to a development which after only a short time is already 20% above internal planning, the path was smoothed for market entry in East Europe.
“A comprehensive international presence guarantees the customer extensive product distribution as well as quick response times for our products and services. This also benefits our individual companies with regard to the various market developments as we have seen in the first nine months. Although the German subsidiary lagged behind expectations, we generated earnings of EUR 1 million due to the fact that other countries exceeded planning. We expect better results for Germany in the future on the basis of measures that have been initiated. As a result of the redistribution of divisional functions, we regard ourselves as optimally positioned for the competition”, commented Giovanbattista Laghezza, CEO of UR Holding S.p.A.
The report can now be viewed at www.ur-home.com/financials/eng/reports.php
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Press Release - German Version (PDF)
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