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1. Introduction
The Azkoyen Group has continued to implement its strategic
restructuring that began last year. This has consolidated
the recovery in growth that began in 2003.
The launching of the new range of hot drink vending
machines.
2. Development of Turnover
Turnover shows the normal seasonal drop during the
third quarter but is higher than the turnover for the
same period last year, with a 3% rise. This is the
first time in 2003 that this happens.
| Line |
Turnover
in thousands of euros |
Variation |
| |
3t
02 |
4t
02 |
1t
03 |
2t
03 |
3t
03 |
3t
03- 3t 02 |
| Tobacco
machines |
5.823 |
6.217 |
5.499 |
5.322 |
4.767 |
-18,13 |
| Vending
Machines |
3.588 |
2.696 |
3.153 |
4.212 |
3.280 |
-8,58 |
| Catering
Machinery |
3.781 |
3.842 |
3.564 |
4.456 |
4.664 |
23,35 |
| Payment
Systems |
3.774 |
3.356 |
3.944 |
5.238 |
3.829 |
1,46 |
| Coffee |
4.998 |
5.858 |
6.124 |
6.269 |
5.916 |
18,37 |
| Consumable
products |
1.455 |
1.533 |
1.694 |
1.845 |
1.729 |
18.83 |
| Rest
and After Sales |
1.550 |
1.522 |
1.515 |
1.620 |
1.545 |
-0,32 |
| Total |
24.9699 |
25.024 |
25.493 |
28.962 |
25.730 |
3,05 |
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With the October launching of the new complete range of hot drink vending machines
(the TEMPO and CITY series, state-of-the-art machines featuring distributed
electronics) sales are expected to grow, reinforcing Azkoyen's position in
this market. The new vending machines have been launched in Europe, Australia
and South Africa and will soon be launched in other regional markets.
3. Pre-Tax Profits
A growth in turnover, an efficient use of synergies,
improvements in process efficiencies and a cost-containment
policy have resulted in a 56% cut in negative results
before taxes for the third quarter, compared to the
previous quarter:
| |
(Thousands of euros) |
| |
4t 02 |
1t 03 |
2t 03 |
3t 03 |
| Pre-tax profits, discounting the results of previous years |
4.149 |
80 |
(3.114) |
(6.476) |
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4. Inversiones e I+D
R&D efforts have added up to 1.3 million euros during the third quarter
and the Company's aggregate investment in this area for the first nine months
of the year is 4.7 million euros.
One of the results of these efforts made by Azkoyen over the past few years
is a technological innovation called "distributed electronics", which
has been included in the new hot drink TEMPO and CITY vending machines. During
the next few months and throughout 2004, new products will be launched featuring
other technological advantages; the fruit of Azkoyen's R&D efforts and
commitment to innovation.
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