Sales for the Q1 2009/10: +11.6%
ESI Group (ISIN FR0004110310), ), a pioneer and world-leading solution provider in virtual prototyping and manufacturing processes, today announced its consolidated sales for its first quarter to 30th April 2009.
Sales for the first quarter of the current financial year totalled €16.4 million euros, up +3.8% in volume terms on the first quarter of 2008/09, and up +11.6% in actual terms given the favourable evolution of exchange rates.
The change in the geographical breakdown of the Group’s activity reflects the integration of Mindware, essentially based in the United States. 39% of first-quarter activity was thus recorded in Europe, 23% in the Americas and 38% in Asia, versus figures of 47%, 13% and 40% respectively in 2008/09.
Driven by the ongoing growth in the Licences installed base, which grew by +4.1% by volume compared to the first quarter of the previous year, and by the positive exchange rate effect, Licence sales came to €11.1 million euros, up +2.9%. Although it continued to benefit from the stability of its Repeat Business at the high level of 81% by volume and from the growth in its installed base, Licence sales did however continue to suffer – albeit less than during the fourth quarter of 2008/09 – from the slowdown in new investments resulting from the deterioration in the economic situation around the world, and in Japan in particular. Subsequently, the proportion of New Business at the end of the first quarter of 2009/10 was down to 14% of Licence sales, versus 22% at the end of the first quarter of 2008/09.
Sales from Services totalled €5.3 million euros, up +35.1% in actual terms and +31.4% by volume. Consolidated within the Group since mid-December 2008, Mindware recorded a first quarter that was in line with expectations and contributed 1.5 million euros to total Group sales. Penalised by a negative base effect given the very high rate of growth recorded by Services over the first three months of the previous financial year, Service sales totalled €3.8 million euros on a constant scope basis at the end of the first quarter of 2009/10, down -2.2% on the sales figure of €3.9 million euros recorded over the first quarter of 2008/09.
Alain de Rouvray, ESI Group’s Chairman and CEO, concludes: “Traditionally not very representative of our activity recorded through the rest of the year, first quarter sales nevertheless continued to emphasize the excellent performance of our Licences installed base within an economic context that remains very difficult. Backed by the renewed trust placed in us by our major corporate clients, by the significant contribution of Mindware and by the numerous innovative projects that are currently the subject of negotiations in our Services activity, we continue to have confidence in the pursuance of our growth in activity and our improvement in profitability with a product mix for the full financial year that should consist of around 30% of Service sales and 70% of Licence sales.”
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