QURIUS PRELIMINARY RESULTS 2009
(Thomson Reuters ONE) - (Unaudited; publication of definitive results 2009 on 18 March 2010)+--------------------------------------+---------+---------+----------+| (in EUR x 1,000) | 2009 | 2008 | Change % || Preliminary results, unaudited | | | || | | | || Net sales* | 117,177 | 126,187 | -7.1% || | | | || Gross margin* | 78,883 | 84,008 | -6.1% || | | | || | | | || | | | || EBIT (before restructuring costs)* | 1,251 | 3,323 | -62.3% || | | | || | | | || | | | || Restructuring costs | 2,119 | 1,256 | 68.7% || | | | || Impairment of goodwill | 2,042 | 19,004 | -89.3% || | | | || | | | || | | | || EBIT* | -2,910 | -16,937 | 82.8% || | | | || | | | || | | | || Financial income and expenses, taxes | -3,346 | -3,397 | 1.5% || | | | || Discontinued operations | -1,416 | -2,161 | 34.5% || | | | || | | | || | | | || Net result after taxes | -7,672 | -22,495 | 65.9% |+--------------------------------------+---------+---------+----------+* Figures are excluding the discontinued activities in 2009 of Denmark, Swedenand Norway29 January 2010 - In the fourth quarter of 2009, lower than expected sales,deteriorating payment performance of customers in Spain, and restructuring costshave led to an EBIT of EUR minus 3.2 million. Qurius the Netherlands, where theresults of the previously taken cost saving measures became apparent, performedwell. Qurius ends the year with a strong cash position.In the fourth quarter, Qurius Spain was confronted with the consequences ofdeteriorating payment performance, following a further worsening of theeconomical circumstances. This has led to a provision for outstanding accountsreceivable of EUR 0.7 million. Spain's adjusted lower forecasts have also led toan impairment on goodwill of EUR 2 million and a charge off deferred tax assetsfor Spain of EUR 1 million.Although the Dutch operation has reported lower net sales, this effect was amplycompensated by substantially lower costs following earlier cost reductions andoptimization of the services.Across all countries restructuring measures have resulted in a non-recurringcharge of EUR 2.0 million, of which EUR 1.7 million was caused by redundancyplans.The strong cash position enabled Qurius to meet its debt service obligations forthe full year by the end of 2009. Qurius expects to be able to solve the effectsof the disappointing fourth quarter performance on the covenants, in aconstructive dialogue with its lender.End of press releaseQurius N.V.Qurius provides architecture, realization and systems management of Microsofttechnology based business and IT solutions, including infrastructures. Quriushas around 900 staff members; its headquarters are located in Zaltbommel, theNetherlands. Its offices in Belgium, Germany and Austria, Italy, theNetherlands, Spain, the United Kingdom and its near shore development centre inthe Czech Republic serve over 2,800 clients. Qurius has been publicly listed onEuronext Amsterdam since 1998 and is included in the AScX-index. CurrentlyQurius has 108,030,023 listed shares. For more information, visitwww.qurius.com.ContactQurius, Suzanne Schaapman: tel.+31 (0)418 683 500 or s.schaapman(at)qurius.com[HUG#1378486] Qurius Preliminary Results 2009: http://hugin.info/132802/R/1378486/338995.pdf
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