|
1st
semester 2003 : satisfactory results, powered by strong growth
in the maritime sector
| In
millions of euros |
June
2003
|
June
2002
|
Ð%
|
June
2001
Proforma
|
| Turnover |
481.5
|
446.5
|
7.8
%
|
415.6
|
| EBITDA |
80.2
|
74.3
|
7.9
%
|
58.9
|
| EBIT |
39.0
|
40.8
|
(4.4
%)
|
28.8
|
| Group
share of net income |
23.8
|
26.2
|
(9.2
%)
|
14.3
|
| Cash
flow |
73.9
|
69.2
|
6.8
%
|
41.3
|
| Net
investments |
188.1
|
105.9
|
-
|
75.3
|
I- GROUPE BOURBON posted a consolidated turnover of 481.5 M€
for the first half of 2003, an increase of 7.8 % :
• the Retailing branch, up 10.8 %, showed the positive effects
of dynamic sales action and the acquisition of new business in MAURITIUS
and MAYOTTE (COMORO ISLANDS) ;
• the growth in the Maritime branch came principally from offshore
work (+ 35.9%), while the towage business showed a drop of 9.4% with
regard to last year.
International business increased once again to attain 40% of group turnover.
II-
The financial results for this first semester reflect the development
strategy in Marine Services and Retailing.
• The EBITDA : 80.2 M€ (+ 7.9 %) and the Cash flow
: 73.9 M€ (+ 6.8 %) increased in proportion to turnover.
• Operating income, stable at 39 M€, allowed for depreciation
and amortization expenses for the new stores and for the vessels delivered
in early 2003.
• GROUPE BOURBON'S net income amounted to 23.8 M€ and
may be fairly compared with the 26.2 M€ for the same period in
2002, which allowed for an exceptional profit of 6 M€ (VINDÉMIA
dividends not paid to CASINO). These results were drawn up with application
of the tonnage tax, whose implementing regulations are currently in
the process of official publication.
III-
In the first semester of 2003, GROUPE BOURBON's net investments amounted
to 188.1 M€, as compared with 105.9 M for the same period in 2002
and 75.3 M for that in 2001.
This accelerated development is in line with the 2003-2007 business
plan presented last March, which schedules overall investments of €
1,200 Millions in the Marine Services branch over this period.
The group's capacity to self-finance development is assured by the steady
increase of cash flow from operating activities and from scheduled sale
of its Retailing branch.
Paris,
September 10th 2003
Press
contact : Catherine Gros ou Tiphaine Hecketsweiler, 01 53 70 74 70,
thecketsweiler@image7.fr
Corporate contact : Patrick Mangaud, 01 40 13 86 09, patrick@mangaud.com
www.groupe-bourbon.com
|