Substantial Organic Growth of 16% in the First Nine Months of 2007
The HIESTAND GROUP has substantially exceeded its growth targets in the first nine months of 2007. The targeted level of CHF 700 million in sales by the end of 2007 will be surpassed.
25/10/07 The HIESTAND GROUP recorded a 50.0% increase in sales to CHF 542.5 million in the first nine months of 2007. The FRICOPAN acquisition contributed 34.2% of this. A particularly pleasing aspect is the organic growth of 15.8%, of which 2.3% came from currency effects.
The growth of the HIESTAND GROUP even accelerated in the third quarter. Sales rose 50.4% on the same period in the previous year to CHF 189.3 million. This rise is partly the result of acquisitions (33.0%) and partly due to strong organic growth (17.4%). Currency effects came to 2.6%. This means that double-digit organic growth rates have been achieved in all three quarters of the current financial year.
Sales in the Europe segment increased by 52.8% compared with the same period last year. This comprised 36.1% from acquisitions and 16.7% organic growth. Currency effects in the first nine months came to 2.8%. The Asia region posted organic growth of 6.9%. However, this was partly counteracted by negative currency effects of 5.2%, resulting in growth of 1.7%.
This impressive growth confirms the Board of Directors and the Group Executive Committee in their targets announced for 2007 as a whole: organic sales growth of between 8% and 10%, an EBIT margin of between 8% and 9% and a consolidated profit margin of over 5%. The HIESTAND GROUP is therefore well on track. The targeted level of CHF 700 million in sales by the end of 2007 will be surpassed.
