Airesis

Third quarter results 2009

04/11/2009

Third quarter results 2009

Le Coq Sportif posts revenue increase of 15% and third quarter profit

Le Coq Sportif revenue rose by 15% in the third quarter of 2009 and showed an increase of 28% for the first nine months of the year. This is quite a satisfactory rate of growth in view of the global financial crisis experienced this year. The gross profit, which stood at 46% at the end of September, remained below the level attained in 2008 mostly due to sales of surplus stocks. With a 12% decrease in costs as compared to 2008, Le Coq Sportif generated a net result of €2.7 million (3^rd quarter: € 2.1M) at the end of September. Seasonality of sales implies a relatively weak 4^th quarter. For 2009, net profit is expected to be close to € 1.5M.

Le Coq Sportif (EUR '000)	YTD 08	YTD 09	09/08
Total revenue	50'758	64'854	+28%
Gross profit	25'712	29'998	+17%
Gross profit in % of total revenue	51%	46%
Operating expenses	-28'775	-25'238	-12%
EBITDA	-3'063	4'760
EBIT	-3'634	4'111
Net result	-5'904	2'719

Boards & More third quarter revenue improves by 6%
North Kiteboarding and Ion helped push up revenue at Boards & More by 6% in the third quarter. Revenues in continuing existing brands rose by 8% since the start of the year and by 14% in the third quarter. Net result reached €1 million compared to €-0.2 million in 2008. Despite weak activity in the last quarter it is expected that the achieved growth will hold till the end of the year with a net result around break even.

Boards & more (EUR '000)

YTD 08

YTD 09

09/08

Total revenue

23'754

23'832

+0%

Gross profit

9'521

9'181

-4%

Gross profit in % of total revenue

40%

39%

Operating expenses

-8'942

-7'789

-13%

EBITDA

579

1'392

EBIT

-109

1'114

Net result

-267

1'031

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Results for the first 9 months of 2011

30/11/2011

Results for the first 9 months of 2011 ...

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Key figures 2010: A promising evolution

30/03/2011

Le Coq Sportif: Revenue growth of 8% to reach EUR 89.8 million (2009: EUR 83.5 million) // Net result of EUR 4 million (2009: EUR 2.7 million) ...

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Change in the shareholding structure

15/12/2010

As expected, the heirs of Robert Louis-Dreyfus would like to partially divest from their shareholding in Airesis through the time. For a part of their shares, an agreement was reached between them and ...

Boards & more (EUR '000)	YTD 08	YTD 09	09/08
Total revenue	23'754	23'832	+0%
Gross profit	9'521	9'181	-4%
Gross profit in % of total revenue	40%	39%
Operating expenses	-8'942	-7'789	-13%
EBITDA	579	1'392
EBIT	-109	1'114
Net result	-267	1'031