2013 Second-quarter Revenue and 2013 Interim Results

• Revenue up 4.8% in the first-half and 2.3% in the second quarter
• Recurring operating income of €136.1 million, representing 7.5% of sales
• Attributable net income of €54.6 million...

2013 Second-quarter Revenue
2013 Interim Results

Download the report: 2013 interim financial report

• Revenue up 4.8% in the first-half and 2.3% in the second quarter
• Recurring operating income of €136.1 million, representing 7.5% of sales
• Attributable net income of €54.6 million

In a statement, Alain Viry, Chairman of CFAO's Management Board said:

“CFAO posted 4.8% growth in the first half of 2013, and an EBIT margin of 7.5%, with strong performances by Eurapharma and the Industries, Equipment & Services division.

The environment was more challenging for Automotive, particularly in Algeria where, after two years of exceptional sales, the division’s sales volumes in the country are decreasing, with a significant impact on growth for the Group as a whole.

As regards to our relationship with OEMs, I am confident about our ability to convince new or alternative partners of our unique know-how and to continue developing our multi-brand strategy in Africa, some positive negotiation being currently ongoing.

Our growth strategy in the retail sector has now been launched, marked in particular by our partnership with Carrefour. I am convinced that it will ultimately offer very attractive prospects for the Group.”

Please find attached the entire press release hereafter.