2010 Second-quarter Revenue
• Like-for-like revenue up 1.1% in second-quarter 2010
• Recurring operating margin up on second-half 2009
• High generation of free operating cash flow, at €105.8 million...
- Like-for-like revenue up 1.1% in second-quarter 2010
- Recurring operating margin up on second-half 2009
- High generation of free operating cash flow, at €105.8 million
In a statement, Richard Bielle, Chairman of CFAO’s Management board said:
“The second quarter of 2010 saw a recovery in our Automotive business and further strong growth for our Eurapharma division.
Although our results for the first half of 2010 are down on the high figures posted in first-half 2009, they were significantly higher than in the second half of 2009.
CFAO Automotive has shown a good resilience to the increase of its main purchasing currencies.
Based on this performance we are looking forward to the second half of the year with confidence despite the ongoing rise in the Japanese yen.
In the coming months we intend to continue to roll out our strategy of strengthening our positions and seizing development opportunities in order to enable us to reach the medium-term objectives we set ourselves at the time of our IPO".
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