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Summary*
Océ closes 2006 better than expected
Provisional results fourth quarter and 2006 financial year*
|
|
|
|
|
|
|
|
|
| Total revenues |
832.1 |
764.4 |
8.8% |
3,110.3 |
2,677.3 |
16.2% |
| EBITDA |
97.4 |
111.2 |
-12.4% |
306.1 |
257.0 |
19.1% |
| EBITA |
55.9 |
75.9 |
-26.4% |
141.1 |
130.2 |
8.4% |
| Operating income (EBIT) |
43.8 |
70.6 |
-38.0% |
102.2 |
112.5 |
-9.1% |
| Net income |
26.7 |
52.1 |
-48.7% |
57.1 |
82.2 |
-30.5% |
Normalised operating income
|
48.7 |
35.4 |
37.7% |
113.2 |
77.3 |
46.4% |
In € per share
EBITDA |
1.16 |
1.33 |
-12.6% |
3.65 |
3.07 |
18.8% |
| Net income to holders of ordinary shares |
0.28 |
0.61 |
-53.5% |
0.63 |
0.93 |
-31.7% |
* The figures in this report are provisional and unaudited. The report has been prepared on the basis of IFRS. In the 2005 results Océ Imagistics was included as from November 1, 2005; for the 2006 financial year it was included for the full year.
** Recalculated on the basis of IFRS (see press release dated March 31, 2006).
Highlights:
- Fourth quarter better than expected.
- Normalised operating income up by 37.7%.
- Strong positive free cash flow (€ 127 million).
- Integration of Océ Imagistics completed and synergies achieved.
Comments by CEO Rokus van Iperen:
‘The Strategic Business Unit Wide Format Printing Systems delivered good results in the fourth quarter and for 2006 as a whole. The Strategic Business Unit Digital Document Systems booked a slightly better result in the fourth quarter, but its performance for the full year was lower than expected. This was attributable in particular to delivery and product issues which have meanwhile been almost fully solved. The integration of Imagistics was successfully completed ahead of schedule and the anticipated synergies have been achieved.
Our three strategic thrusts continue to be: increasing our distributive strength, ongoing innovation of our product range and optimising our business processes. Within Digital Document Systems the successful Imagistics model will also be implemented in Europe so as to improve profitability. In addition our product range will consist of a well balanced mix of our own printing systems and printers sourced from third parties. In developing our own products we will focus on high volume and wide format printers.'
Normalised operating income higher
|
Fourth quarter |
Financial year |
| In million euro |
2006 |
2005 |
2006 |
2005 |
Operating income |
43.8 |
70.6 |
102.2
|
112.5 |
| Release from pensions |
-2.7
|
-68.3
|
-16.5
|
-68.3
|
| Restructuring and integration costs |
6.1 |
33.1 |
18.0 |
33.1 |
|
|
47.2 |
35.4 |
103.7 |
77.3 |
Costs of share-based schemes
(difference compared to 2005)
|
-0.3 |
- |
1.1 |
- |
Lease revenues
(difference compared to 2005) |
1.8 |
- |
8.4 |
- |
|
Normalised operating income
|
48.7 |
35.4 |
113.2 |
77.3 |
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Océ N.V.
15 January 2007
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