Resilient sales thanks to good performance in France and in the Netherlands cost management bears fruit
- Q3 2009 revenues of €7.805 million, in line with expectations
- Year-on-year revenue down by 14%
- 64,260 units-shipped mark passed
- Double digit ebitda margin will be achieved for FY2009 thanks to stable gross margin and cost reducing measures
During Q3 2009, Transics shipped 2,110 on-board computers and generated turnover for Q3 2009 amounted to €7.805 million, a 14% decrease compared to the same period in 2008. First and second quarter revenues in 2009 were down 24.2% and 27.8% respectively year-on-year. The performance for the third quarter is therefore reflecting a greater level of resilience. This performance was achieved thanks in part to improved sales in France (+4% year-on-year) and in the Netherlands (+8% year-on-year).
The company initiated a cost management initiative in September 2008, which is delivering ahead of expectations. Total operating expenses for the first nine months of 2009 stand at €15.030 million, some 17% below operating expenses for the same period in 2008. On that basis, the company is well on track to delivering its objective of delivering a 15-20% EBITDA margin for FY2009.
The outlook for 2009
Assuming there is no further deterioration in the transport sector and no recovery in the leasing market, management projects that Transics will deliver a 15-20% EBITDA margin for FY2009 thanks to cost containment and a stable gross margin. Management expects Q4 2009 revenues to be in line with the average run rate of the first 3 quarters 2009.
Transics International NV, established in 1991, develops and commercialises high-end fleet management solutions for the transport and logistics sector. Thanks to many years of experience, thorough R&D efforts and an intensive focus on the customer experience, Transics has become the leading European player in its sector. In addition to its headquarters in Ypres (Belgium), Transics is active throughout Europe. The company has been quoted on the stock exchange (Euronext Brussels) since June 2007.