Netherlands-based diversified distributor Hagemeyer NV reported sales of 6.22 billion euros (US$8.17 billion) in 2006. Organic growth was 11.5%. Profit for the year was 140 million euros (US$183.8 million), compared with a net loss of 58 million euros (US$76.1 million) last year.
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A strong global economic environment and high copper cable prices had a positive impact, said CEO Rudi de Becker. This is the first in three years that Hagemeyer has recorded a net gain. Hagemeyer’s turnaround has been successfully completed and we are now entering a new phase,” he said, “one focused on profitably growth – both on our own and through judicious acquisitions.”
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Overall organic growth in the Professional Products and Services division was 11.6%. Sales in PPS North America were 1.41 billion euros (US$1.84 billion); in Europe sales were 3.95 billion euros (US$5.2 billion); in Asia-Pacific, sales in PPS were 469 million euros (US$615.9 million).
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All regions showed double-digit or near-double-digit organic growth in 2006, with Central Europe (including Germany), Spain, Nordics and Asia-Pacific as the best performers. Revenue growth in North America decreased during the second half of the year, mainly due to an increasingly difficult comparison basis.
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Developments in operations in emerging markets were positive.
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Organic growth in PPS was 12.7% in the fourth quarter 2006.
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Hagemeyer’s electronics division (ACE) reported sales of 404 million euros in 2006 (US$530.6 million), up 10.2% on an organic basis.
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For more details on Hagemeyer’s 2006 results, click here.
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