CFAO 2012 Annual Results

• +8.3% surge in business in the fourth quarter
• Excellent revenue and recurring operating income in 2012
Revenue of €3,585.2m, up +14.8% year on year
Recurring Operating Income: €290.3m, or 8.1% of revenue...

Consolidated Financial Statements ended December 31, 2012: download the pdf document

Annual results ended December 31, 2012: download the pdf document

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

"CFAO reported excellent results in 2012 thanks to the tremendous commitment of our employees, the sustained momentum of most of the African markets where we posted growth of almost 20%, and the renewed trust of our customers.
We attained the growth and profitability objectives set by the Group for the fiscal year, with strong growth of 14.8% and recurring operating income coming in at €290.3 million, up 13.3% on last year.
The major acquisitions carried out by Eurapharma in 2012 and the potential of recently developed businesses will contribute, among other factors, to reinforcing the Group's growth on the African markets, which look set to remain favorable overall in 2013.
The main aim of the strategic alliance formed between CFAO and TTC in December 2012 is to step up the Group's expansion in Africa and to broaden the scope of its activities. We are determined, by combining our strengths and experience, to reinforce the leadership of CFAO as a brand distributor across all its existing businesses and beyond."

Please find attached the entire press release hereafter.