Public-to-Private investigation & divestment of WorkSphere * Book profit WorkSphere € 65 mln * Net results second quarter € 82 mln, eps € 2.55
(Q2 2005: € 33 mln, eps: € 1.02) * Turnover up by 18%: € 533 mln (Q2 2005: € 453 mln) * Orders up by 4%: € 520 mln (Q2 2005: € 498 mln) * Implementation of strategy shows good progress * Share buyback programme starts
CEO Sjoerd Vollebregt: "Performance in the second quarter was predominantly good and during the first half year we have made progress with the rollout of the next phase in our strategy: WorkSphere has been sold for a good price and the process for the divestment of Prints has been started. Various acquisitions and divestments have been finalised. The various activities performed well and Technical Services in particular showed a clear growth in turnover and results. We will be taking extra measures at Aerospace Industries to accommodate the effect of the delays in the A380 and NH90 programmes. We expect that this and the measures for accelerating profitability improvement announced previously will be finalised by the end of 2007. The effect is mainly short-term; the outlook for the long term remains good. The quarter was further marked by a highly intensive and thorough investigation into whether we might best carry out our strategy as a private company instead of a listed company. Lastly we intend to return a total of some € 200 million to our shareholders this year through the reduction of capital already taken place and the planned share buyback."
Press information: Stork N.V. Dick Kors Tel.: +31(0)35 - 695 75 75
Please open the link below to view the complete press release including tables:
http://hugin.info/130797/R/1065716/179711.pdf
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