Dutch holding company ERIKS Group reported sales for the first quarter 2009 were € 270 million (US$358 million), up 10.2% from the first quarter of 2008. All positive growth can be attributed to acquisitions realized in 2008. Organic sales contributed a negative 14.6%. Overall demand for ERIKS' products declined in the first quarter.
Cost savings program are currently being executed within the entire ERIKS group. This will result in a cost cutback of approximately € 20 million on an annual basis.