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Sperian Announces First Half Results

Thursday, September 3, 2009

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Sperian Protection (Paris, France), a manufacturer of personal protective equipment, announced its results for the first half of 2009. Consolidated sales fell by 13.6% to €326.9 million, compared to the first half of 2008.

The recent acquisitions of height safety companies Combisafe and Musitani contributed approximately €14 million in revenue, and the strengthening of the dollar versus the euro contributed nearly €12 million.

Income from operating activities was around €25.3 million in the first half of 2009, compared to €57.8 million in 2008. The operating margin dropped from 15.3% to 7.7%.

The company decreased its net debt to €261 million by the end of June 2009, down from €303 million at the end of December 2008. Cost-cutting measures include cutbacks in production capacity. The company plans to reduce its total work force by 1,200 employees by the end of the year, and already eliminated 650 positions in the first half of 2009.

   

Tagged categories: Earnings reports; Finance

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