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Groupe Vial SA Confirms FY 2012 and FY 2013 Business Forecast and Announces Business Reorganization and Cost Reduction Plan


Monday, 10 Sep 2012 12:15pm EDT 

Groupe Vial SA confirmed the annual forecast calculated within the framework of the safeguard procedure as follows: full year 2012 and 2013 sales of EUR 106.5 million and EUR 109.5 million respectively, and full year 2012 and 2013 EBITDA of EUR 3.5 million and EUR 3.9 million respectively. In order to compensate for the poor first-half performance in terms of the annual sales forecast (+2.9% forecast for 2012, but -8.9% achieved at June 30, 2012), the Company intends to develop an offer for the Professional market (construction craftspeople, real-estate programs, etc...) during the month of October 2012. At the same time, the increasing growth of the Bolivian market should be reaffirmed. In order to achieve a positive EBITDA in 2012, from June the Company launched a plan to achieve operating profitability over the second half of 2012, based on cost reductions notably regarding: a drastic reduction in marketing-advertising costs (in particular the purchasing of TV space), and a reduction in general costs and external costs (fees, cost of external service providers, etc...). Moreover, in order to counter the temporary decrease in activity, the Company has decided to refocus its activity on its traditional businesses and products. Other measures include a review of raw material purchasing processes and the supplying of finished products, and an audit on all industrial and sales activity in Spain in order to reduce the first-half current losses recorded in that country. 

Company Quote

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31 Jan 2014