PR Newswire/Les Echos/
PRESS RELEASE
Fourth-quarter 2009 sales
Paris, January 28, 2010
During the fourth quarter of 2009, Carbone Lorraine posted consolidated sales
of 148 million, down 17% on the previous year on a reported basis and down
16% on a likefor-like basis.
The size of the sales decline was smaller than in the previous two quarters.
The improvement was tangible across both business segments. 0verall,
fourth-quarter sales advanced by 8% on a like-for-like basis compared with the
previous quarter.
Full-year 2009 sales came to C587 million, down 11% on a reported basis and
16% like-forlike.
Sales Q4 % %
2009 change* 2009 change*
(EUR m) Q4 2009/ (EUR m) 2009/
Q4 2008 2008
Advanced Materials and 64 -22% 256 -14%
Technologies
Electrical Components and 84 -11% 331 -17%
Technologies
Group total 148 -16% 587 -16%
*on a like-for-like basis, i.e. at comparable scope and constant exchange
rates - Unaudited data
Advanced Materials and Technologies
The sales recorded by the Advanced Materials and Technologies segment came to
EUR64 million during the fourth quarter, down 22% on a like-for-like basis.
Although business trends remained depressed in conventional industrial
segments, the large inventory run-downs observed during 2009 now appear to be
over at most of the Group's major customers. Sales to the electronics market
grew across all the Group's geographical regions.
Demand in the solar segment continued to grow in Europe and Asia, while further
inventory adjustments were seen in the United States.
In anticorrosion equipment, sales were held back by unfavorable base effects
attributable to the high level of billings recorded during 2008 in Asia. Brisk
sales were seen in the solar energy and seawater desalination markets.
The Advanced Materials and Technologies segment2s sales totaled EUR256 million
during 2009. They dropped by 14% on a like-for-like basis.
Electrical Components and Technologies
Fourth-quarter sales fell back 11% on a like-for-like basis to reach
EUR84 million.
Sales of equipment for industrial motors again bore the brunt of the economic
environment. Wind energy markets enjoyed further momentum in Asia, while
inventory reductions slowed down in Europe. In other markets, renewed growth
will be contingent on an upturn in capital expenditures, which were again
limited towards the end of the year.
The decline in electrical protection sales was more moderate in the fourth
quarter, with strong growth in Asia and greater resilience in Europe. Sales of
speed controllers and general-purpose fuses have firmed up, as have sales in
the photovoltaic market. No recovery was perceptible in North America, but the
Group is well-placed there to capitalize on the upswing when it comes.
During 2009 as a whole, Electrical Components and Technologies sales totaled
EUR331 million, down 17% like-for-like.
Trends
Over the second half of the year, the Group continued to build up its
positions in expanding markets, such as renewable energies, energy efficiency
and Asia. This invaluable positioning helped to mitigate the impact of the
economic crisis.
Thanks to its drive to cut costs and refocus its business over the past few
years, Carbone Lorraine expects to report 2009 EBITDA showing encouraging
resilience and an operating margin before nonrecurring items in line with its
guidance, in spite of the highly depressed conditions.
About Carbone Lorraine
World leader of graphite solutions and
electrical components, Carbone Lorraine specializes in the implementing of
high technology materials in demanding industrial environments and in the
development of systems, which are fundamental to the smooth operation of the
motor and the protection of electrical equipment. With over 85% of its sales
carried out internationally, the Group holds leadership positions in all of
its occupations.
Advanced Materials and Technologies: N°1 worldwide in anti-corrosion
equipment in graphit
N°2 worldwide in high temperature
applications of isostatic graphite
Electrical Components and Technologies: N°1 worldwide in brushes for electrical
motors
N°1 worldwide in fuses for powerful
semi-conductors
N°2 worldwide in industrial fuses
The Group is listed at Premier Marché de la Bourse de Paris and is a part of
the following indices
CAC Mid100, SBF120 et Next 150.
Find Carbone Lorraine on Bloomberg: CRL FP and on Reuters: CBLP.PA
Visit our Internet website www.carbonelorraine.com
Analyst and Investor Contact Press Contact
Stéphanie Atellian Publicis Consultants
VP Investor Relations Vilizara Lazarova
Carbone Lorraine
Tel.: +33 (0)1 46 91 54 19 Tel.: +33 (0)1 57 32 86 46
dri@carbonelorraine.com vilizara.lazarova@consultants.publicis.fr
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