Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Samas Groep - Half Year Results 2008/2009

Wednesday 5 November 2008

Before the start of trading Samas N.V. (Samas) today announced its 2008/2009 first half year results on a continued operations (excluding Samas France) and fully consolidated basis. Samas’ financial year runs from 1 April until 31 March.


Key points financial development first half year 2008/2009

•Year-on-year net revenue (fully consolidated) increased by 1% to 183.7 million.

•Normalized EBITDA (fully consolidated) turned positive at 4.3 million due to strict cost and cash management (versus 4.3 negative in first half of previous year).
•Continued cost reduction programmes resulted in 8% lower cost base and a significantly smaller normalized operating loss (fully consolidated) of 2.4 million compared to 11.0 million year-on-year. Result realized with 230 FTE less at September 30 compared with one year ago.
Net result (fully consolidated) came in at 12.7 million negative, for large part due to a (non cash) one-off book loss of 6.0 million related to the divestment of Samas France.
•Financial position strengthened; compared to 31 March 2008 net debt decreased by 10.7 million to 37.2 million whereas solvency increased from 30.5% to 34.2%. Caution and alertness continue to be required given risks related to the economic environment as well as the tight financial household. Key points strategic development and organization.
•Progress booked on both strategic and operational level aimed at creating a more compact and profitable Samas; Samas France divested as per 30 September 2008.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 7 June 2017 HNI appoints Lorenger president, Office Furniture

MUSCATINE, Iowa - HNI Corp. has appointed Jeff Lorenger to president of its Office Furniture segmen

Monday 5 June 2017 Leeds Firm Helps Save Jobs at Office Furniture Maker

Restructuring specialists from Leeds have helped safeguard a future for a £6m-turnover Oxfordshire

Sunday 28 May 2017 Steelcase's new seating aims to make hospital rooms more comfortable

GRAND RAPIDS, MI -- Patients often want their family members in their hospital rooms. Research sh

Thursday 25 May 2017 Furniture-maker Knoll says its CFO is stepping down

Knoll Inc. said Thursday its chief financial officer is resigning next month to devote more time to

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7670 1510