Olympia Flexgroup AG
Allbecon Olympia grows by 14.2 per cent in the first nine months
Allbecon Olympia AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Allbecon Olympia grows by 14.2 per cent in the first nine months Highlights • Sales up 14.2 per cent at EUR 290.8 million • EBIT 14.1 per cent higher at EUR 10.0 million • Opening of 14 new offices to a total of 185 Basis for comparison in 2006: pro forma figures in all cases* Sales and earnings Allbecon Olympia AG increased Group sales by 14.2 per cent to EUR 290.8 million in the first nine months of 2007 (previous year: EUR 254.6 million). The Netherlands accounted for EUR 160.2 million of total sales, while Iberia (Spain, Portugal) contributed EUR 60.8 million, Germany EUR 57.2 million and Italy EUR 9.4 million. Group EBIT (earnings before interest and tax) for the 9-month period were up 14.1 per cent at EUR 10.0 million. The EBIT margin was therefore 3.5 per cent. Marcel Slaghekke, CEO of Allbecon Olympia AG: 'Profitability at our subsidiaries is improving, even though implementation of our strategy is somewhat behind schedule. The first franchise office has already been opened and we have concluded three further contracts in November in Germany. From 2008 onwards, we will then be benefitting to a larger extent throughout the Group from the structures we have created and will be growing even faster.' Operating growth Allbecon Olympia opened two new offices in the third quarter in the Netherlands and Germany. The company intends to continue growing primarily with its franchise concept. The relevant preparations have already been made in Germany and Spain. The first franchise contract in Germany was signed in August and the office concerned was opened in October. So far this year management focus has been concentrated mainly on integration of the Allbecon and Olympia companies and on strengthening the organisation. New management has, for example, been appointed in Germany and Spain. Prospects On the basis of the first 9 months, Allbecon Olympia anticipates sales of almost EUR 400 million for the financial year 2007. In spite of the investments planned and concluded in the context of the growth strategy, the EBIT margin for 2007 is to exceed the 2006 EBIT margin. Even faster growth is scheduled from 2008 onwards. * The pro forma figures include the results of Allbecon and Olympia for the complete 9-month period in 2006 (complete 2006 und 9-month period in 2007 are unaudited). Düsseldorf, 29 November 2007 Allbecon Olympia AG The Executive Board About Allbecon Olympia AG Allbecon Olympia AG is a European personnel services company with operations in seven countries that has its headquarters in Düsseldorf, Germany. The enterprising spirit that is driven by the franchise concept makes Allbecon Olympia a committed partner for its staff and customers. Our objective is to create valuable temporary employment relationships between our employees and our customers. On 30 September 2007, the Allbecon Olympia network consisted of 185 offices in Germany, Italy, the Netherlands, Poland, Portugal, Spain and Switzerland, with over 18 000 employees. Allbecon Olympia is listed in the General Standard at Frankfurt Stock Exchange. Press inquiries: Kirchhoff Consult AG Dr Kay Baden Tel. +49 40 60 91 86 39 Fax +49 40 60 91 86 71 E-mail: baden@kirchhoff.de 29.11.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Allbecon Olympia AG Zollhof 4 40221 Düsseldorf Deutschland Phone: +49 (0)211 86 29 86-0 Fax: +49 (0)211 86 29 86-99 E-mail: ir@allbecon.de Internet: www.allbecon.de ISIN: DE000A0LBKV8 WKN: A0LBKV Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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