Summary
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| |
|
|
In million euro
Total revenues |
645.7 (-1.1%)
|
1,950.3 (-3.6%)
|
| Operating income (EBIT) |
16.6 - |
81.3 (3.6%) |
| Net income |
14.1 - |
52.7 (52.8%) |
In euro
Net income per share |
|
0.60 (57.1%)
|
| Operating income** (EBIT) |
23.9 (-6.7%) |
88.6 (-12.7%) |
| Net income*** |
12.9 (1.9%) |
51.5 (-2.4%) |
Commenting on the third quarter results, Rokus van Iperen, chairman of the Board of Executive Directors of Océ N.V., said: "The growth in sales of new systems in the third quarter lagged behind the trend. Recurring revenues did not develop as anticipated. But this is a postponement rather than a cancellation of investments. In due course the further growth of the population of machines will lead to growing income flows from service."
- Slight decline in third quarter revenues to € 645.7 million [–1.1%]. Organic increase in revenues 0.4%.
- Sales of machines, software and professional services [non-recurring] grew organically by 10.0% in the third quarter [excluding sale of lease contracts: 4.6%].
- Operating income before impairment amounted to € 23.9 million [2003: € 25.7 million].
- Compared to the third quarter of 2003, the impact of the sale of lease contracts on operating income amounted to € 0.1 million; this is the net result of the book profit [€ 8.1 million] after deducting the decrease in interest income from financial leases [– € 8.0 million].
- Net income was € 14.1 million, including impairment [€ 4.4 million net] and the release of a tax provision of € 5.6 million net.
- Free cash flow was € 102.4 million during the third quarter.
- Interim dividend to be maintained at € 0.15 per ordinary share.
- Net income for full 2004 financial year expected to be between € 75 and € 80 million.
Océ N.V. 8 October 2004
* The figures stated in this report are unaudited. The report has been prepared on the basis of Dutch GAAP; as compared to the Annual Financial Statements for 2003 no changes have taken place in the accounting principles.
** Excluding impairment of € 7.3 million in 2004 and € 23.0 million in 2003.
*** Excluding impairment [€ 4.4 million net] and release of € 5.6 million net from tax provision.
Download the full report:
- Results third quarter/nine months 2004 (PDF 116 kb)
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