Gamma Holding announces nine-month turnover increase

03 Nov '06

3 min read

Gamma Holding N.V announces that over the entire nine month-period turnover increased by 5 percent to EUR 576 million (2005: EUR 547 million). Operating result excluding restructuring costs increased by 13 percent to EUR 44.2 million (2005: EUR 39.0 million).

Restructuring costs amounted to EUR 2.3 million (2005: EUR 9.1 million). The net group result increased by 67 percent to EUR 21.2 million (2005: EUR 12.7 million).

Developments third quarter:
In the third quarter Gamma Holding's turnover increased fractionally to EUR 183 million (2005: EUR 182 million). Operating result (excluding restructuring costs) increased by 6 percent to EUR 11.9 million (2005: EUR 11.2 million).

Price pressure and considerably higher energy prices were compensated by, among other things, positive effects from the 'Planning for growth' process and cost-saving measures at Exotic Fabrics. Net group result increased by 81 percent to EUR 5.4 million (2005: EUR 3.0 million).

Compared to the same period last year, turnover of the Gamma Technologies sector remained unchanged at EUR 117 million. Belting Technology's turnover rose on the back of increased demand, particularly in the United States and Asia.

Turnover of the Comfort & Style sector rose fractionally in the third quarter to EUR 66 million (2005: EUR 65 million). Turnover at Exotic Fabrics increased due to rising demand for the Vlisco top brand and for the youthful Woodin brand.

Turnover at Sleep Care Fabrics decreased, mainly due to the fact that on average sales prices were down. In the United States the business unit strengthened its market position in both woven and knitted mattress fabrics.

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