Buenos Dias, Good Morning…
I found this (the following) Press Release on ServicePointSolutions’ web-site, this morning. I did not find an English language version of the Press Release, I only found a Spanish language version.
You’ll first see the Spanish language version of the Press Release, followed by an English language version generated by Google Translate. Google Translate does not do a perfect job.
Service Point reports that its 1st Half 2011 Sales have increased over the Sales it reported for the 1st Half of 2010. Service Point does not mention, in the Press Release, how much of that increase was generated by the newly acquired Holmbergs operation. (An acquisition SP completed, this year, in Scandanavia.) I suspect that a good portion of the increase in sales, if not all of it, resulted from the addition of Holmberg’s revenues.
EBIT and EBITDA are both positive numbers, and, while that’s a good sign, I’m always interested in seeing what a company’s bottom-line results (earnings) are after Interest Expense. Interest payments are not a non-cash expense!
Here’s the Spanish language version of the Press Release:
AVANCE DE RESULTADOS PRIMER SEMESTRE DE 2011
El beneficio operativo de Service Point crece un
78,5% durante el primer semestre de 2011
Barcelona, 3 de Agosto de 2011 - Las Ventas de Service Point Solutions han alcanzado los 110,5 millones de euros durante el primer semestre, lo que representa un crecimiento del 5% respecto al mismo periodo de 2010.
El crecimiento ha sido resultado del incremento en la actividad comercial del grupo especialmente en los mercados Escandinavos (Noruega y Suecia) y centros Europeos (Países Bajos y Alemania) donde se ha notado por un lado una recuperación de la actividad económica en la base de clientes y por otro lado, se han obtenido tasas de crecimiento de doble dígito en las actividades consideradas estratégicas para el desarrollo de los próximos ejercicios: impresión online, impresión bajo demanda y gestión documental para el sector financiero.
A nivel de EBITDA el crecimiento ha superado el 15%, especialmente gracias a una continuada reducción de costes operativos fijos. A pesar del incremento en el perímetro de consolidación a partir del mes de mayo con la incorporación de Holmbergs en Suecia, los costes operativos fijos han bajado en casi 2 millones de euros. El Grupo recientemente ha introducido nuevas medidas de reducción y control de gastos que se espera produzcan un efecto de disminución ulterior para el segundo semestre en curso. En paralelo, el Grupo ha seguido apostando por el crecimiento en la inversión en capacidad productiva y comercial, recientemente se han abierto los dos mayores centros de producción de Service Point en Europa Continental (Alphen aan den Rijn y Países Bajos) y Escandinavia (Malmö); la actividad de estos centros es plenamente productiva de cara al segundo semestre del ejercicio.
El beneficio operativo (EBIT) ha sido de 4,3 millones de euros, respecto a los 2,4 millones registrados en el primer semestre de 2010, lo que implica una tasa de crecimiento cercana al 80%.
| Euros '000 | Primer Semestre 2011 | Primer Semestre 2010 | Crecimi-ento | ||
| | | | | ||
| Ventas | 110.55 | 105.77 | 5% | ||
| EBITDA | 9.24 | 8.02 | 15% | ||
| EBIT | 4.28 | 2.40 | 79% | ||
| Costes Operativos Fijos | 61.46 | 63.36 | -3% | ||
El desglose completo de los resultados, flujos de efectivo y balance de situación se hará público a finales del mes de agosto.
Para más información Service Point Solutions, S.A.
Pablo Divasson del Fraile
pablodivasson@servicepoint.net
Tel +34 93 508 2400
Fax +34 93 508 2442
Here’s the English language version of the Press Release:
PROGRESS RESULTS FIRST HALF OF 2011
Operating profit grew by Service Point
78.5% during the first half of 2011
Barcelona, August 3, 2011 - The Service Point Solutions Sales reached 110.5 million euros in the first half, representing a growth of 5% over the same period in 2010.
Growth has been a result of increased commercial activity of the group especially in the Scandinavian markets (Norway, Sweden) and European centers (the Netherlands and Germany) where one side has noticed a recovery in economic activity in the customer base and on the other hand, rates have been achieved double-digit growth in activities considered strategic for the development of the next few years: online printing, on demand printing and document management for the financial sector.
In terms of EBITDA growth has exceeded 15%, especially thanks to a continued reduction in fixed operating costs. Despite the increase in scope of consolidation from the month of May with the addition of Holmbergs in Sweden, fixed operating costs have dropped by almost 2 million euros. The Group has recently introduced new measures to reduce and control costs are expected to produce an effect of a subsequent decrease for the second semester. In parallel, the Group continued betting on growth in investment in productive capacity and trade, recently opened two major production centers in Europe Continental Service Point (Alphen aan den Rijn, Netherlands) and Scandinavia (Malmö) , the activity of these centers is fully productive for the second half of the year.
Operating profit (EBIT) was 4.3 million euros, from 2.4 million in the first half of 2010, implying a growth rate close to 80%.
| translation > | 1H 2011 | 1H 2010 | Growth | |||
| Euros '000 | Primer Semestre 2011 | Primer Semestre 2010 | Crecimi-ento | |||
| | | | | |||
| Ventas | 110.55 | 105.77 | 5% | |||
| EBITDA | 9.24 | 8.02 | 15% | |||
| EBIT | 4.28 | 2.40 | 79% | |||
| Costes Operativos Fijos | 61.46 | 63.36 | -3% | |||
| Ventas = | Sales | | | |||
| Costes Operativos Fijos = | Fixed Operating Costs | | ||||
The full breakdown of results, cash flows and balance sheet will be announced in late August.
Service Point Solutions (www.servicepoint.net) is a leader in the field of document management services and digital printing. It is present in various sectors such as architecture, engineering, construction, finance, government and education, which serves more than 30,000 B2B customers. It employs 2140 people in 9 countries (UK, USA, Spain, Germany, Netherlands, Belgium, Norway, France and Sweden) have a total of 133 service points in its international network, 816 facilities management, presence through the global network and a growing Globalgrafixnet online business now accounts for 6% of its sales. Headquartered in Spain, SPS is quoted on the Stock Exchanges of Madrid and Barcelona (ticker: SPS.MC).
For more information Service Point Solutions, SA
Pablo Divasson del Fraile
pablodivasson@servicepoint.net
Tel +34 93 508 2400
Fax +34 93 508 2442
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