QURIUS 
By
(Unaudited; publication of definitive results 2009 on 18 March 2010)
+--------------------------------------+---------+---------+----------+
| (in EUR x 1,000) | 2009 | 2008 | Change % |
| Preliminary results, unaudited | | | |
| | | | |
| Net sales* | 117,177 | 126,187 | -7.1% |
| | | | |
| Gross margin* | 78,883 | 84,008 | -6.1% |
| | | | |
| | | | |
| | | | |
| EBIT (before restructuring costs)* | 1,251 | 3,323 | -62.3% |
| | | | |
| | | | |
| | | | |
| Restructuring costs | 2,119 | 1,256 | 68.7% |
| | | | |
| Impairment of goodwill | 2,042 | 19,004 | -89.3% |
| | | | |
| | | | |
| | | | |
| EBIT* | -2,910 | -16,937 | 82.8% |
| | | | |
| | | | |
| | | | |
| Financial income and expenses, taxes | -3,346 | -3,397 | 1.5% |
| | | | |
| Discontinued operations | -1,416 | -2,161 | 34.5% |
| | | | |
| | | | |
| | | | |
| Net result after taxes | -7,672 | -22,495 | 65.9% |
+--------------------------------------+---------+---------+----------+
* Figures are excluding the discontinued activities in 2009 of Denmark, Sweden
and Norway
29 January 2010 - In the fourth quarter of 2009, lower than expected sales,
deteriorating payment performance of customers in Spain, and restructuring costs
have led to an EBIT of EUR minus 3.2 million. Qurius the Netherlands, where the
results of the previously taken cost saving measures became apparent, performed
well. Qurius ends the year with a strong cash position.
In the fourth quarter, Qurius Spain was confronted with the consequences of
deteriorating payment performance, following a further worsening of the
economical circumstances. This has led to a provision for outstanding accounts
receivable of EUR 0.7 million. Spain's adjusted lower forecasts have also led to
an impairment on goodwill of EUR 2 million and a charge off deferred tax assets
for Spain of EUR 1 million.
Although the Dutch operation has reported lower net sales, this effect was amply
compensated by substantially lower costs following earlier cost reductions and
optimization of the services.
Across all countries restructuring measures have resulted in a non-recurring
charge of EUR 2.0 million, of which EUR 1.7 million was caused by redundancy
plans.
The strong cash position enabled Qurius to meet its debt service obligations for
the full year by the end of 2009. Qurius expects to be able to solve the effects
of the disappointing fourth quarter performance on the covenants, in a
constructive dialogue with its lender.
End of press release
Qurius N.V.
Qurius provides architecture, realization and systems management of Microsoft
technology based business and IT solutions, including infrastructures. Qurius
has around 900 staff members; its headquarters are located in Zaltbommel, the
Netherlands. Its offices in Belgium, Germany and Austria, Italy, the
Netherlands, Spain, the United Kingdom and its near shore development centre in
the Czech Republic serve over 2,800 clients. Qurius has been publicly listed on
Euronext Amsterdam since 1998 and is included in the AScX-index. Currently
Qurius has 108,030,023 listed shares. For more information, visit
www.qurius.com.
Contact
Qurius, Suzanne Schaapman: tel.+31 (0)418 683 500 or s.schaapman@qurius.com
[HUG#1378486]
Qurius Preliminary Results 2009: http://hugin.info/132802/R/1378486/338995.pdfQURIUS : PRELIMINARY RESULTS 2009
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© GlobeNewswire - 2010
