EskoArtwork Records Prositive First Half for 2010

GENT, Belgium—EskoArtwork reported a strong performance during the first half year of 2010. Consolidated revenues for the first half year of 2010 amounted to 84.9 million euro, an increase of 25 percent over the first half year of 2009 and an increase of 7 percent over the same period in 2008. EBITDA for the first half year of 2010 ended at 17.0 million euro, a 149 percent improvement over the same period of 2009 and 42 percent higher than the results of the first half year of 2008.

Revenue for packaging products increased by 27 percent compared to the first half of 2009 and by 8 percent compared to the first half year of 2008. Customer services revenue for the entire business went up by 18 percent and 15 percent compared to the first half year of 2009 and 2008 respectively.

All regions, all product lines

The EskoArtwork strategy of offering integrated solutions has two major objectives; to enable customers to achieve greater efficiency and to drive growth. Over the past six months the response from customers to the release of new and expanded solutions that are targeted at these goals has driven increases in sales. In particular, HD Flexo, a solution that offers flexographic printers quality and predictability that now matches gravure and even offset print quality, has been a major success, driving growth for EskoArtwork in this segment of over 30 percent. Similarly, the success of the Kongsberg XP production tables have exceeded expectations and exceed 2009 H1 results by close to 50 percent.

Every region has shown excellent growth ranging from 26 percent in Europe, 21 percent in Asia Pacific and 16 percent in North America (excluding the exchange rate effect of the US$ to Euro).

Carsten Knudsen, CEO, says: “We are pleased with our first half year results. They confirm the underlying strength and direction of our corporate strategy. We continued to invest in innovation and development over the past eighteen months and the resulting product and solution introductions have strengthened our market position and boosted sales. Our more recent solutions for Brand Owners and the Sign and Display market have also seen very positive increases in business. Overall it has been a very satisfactory period and I anticipate that many of our investments over the past six months will continue to accelerate our growth in the short term.”