Draka Holding N.V.: 2010 Half-Year Figures[1]

Signs of cautious recovery in several cable market segments +--------------------------------------------------------+--------+-------+----+ |  (€ million, unless stated otherwise) |H1 2010 |H1 2009|∆% | +--------------------------------------------------------+--------+-------+----+ |  Revenues |1,143.9 |1,021.8|12 | +--------------------------------------------------------+--------+-------+----+ | | | |  | |  Revenues at constant copper prices |1,099.1 |1,111.5|(1) | +--------------------------------------------------------+--------+-------+----+ | | | |  | |  EBITDA, excluding non-recurring items[2] |65.1 |71.8 |(9) | +--------------------------------------------------------+--------+-------+----+ | | | |  | |  Operating result, excluding non-recurring items[2] |34.0 |41.0 |(17)| +--------------------------------------------------------+--------+-------+----+ |  Operating result |12.2 |23.1 |(47)| +--------------------------------------------------------+--------+-------+----+ |  Result for the period, excluding non-recurring | | |  | |items[2,3] |20.0 |19.4 |3 | +--------------------------------------------------------+--------+-------+----+ |  Result for the period[3] |1.5 |6.0 |(75)| +--------------------------------------------------------+--------+-------+----+ |  Earnings per share, excluding non-recurring items | | | | |(€)[2,4] |0.36 |0.41 |(12)| +--------------------------------------------------------+--------+-------+----+ |  Cash flow from operating activities |  (17.3)|  74.7 |  - | +--------------------------------------------------------+--------+-------+----+ * Revenues up 12%, mainly due to higher copper prices (+13%). Volume was 0.6% negative in H1 2010 but turned to 0.9% positive in Q2 2010 (first volume growth since H1 2008). * Operating result, excluding non-recurring items, € 34.0 million, down 17% compared with H1 2009 but comparable with H2 2009 figure. Underlying improvement since Q2 2010 driven by volume growth. * Energy & Infrastructure and Industry & Specialty posted lower operating results, but Communications reported a 76% increase. * Cost-reduction programmes on schedule; additional savings of around € 15 million expected in H2 2010. * Result for the period, excluding non-recurring items, € 20.0 million (+3%). * Operating working capital ratio 16.6% (H1 2009: 15.8%), due to higher copper prices and exchange-rate effects. Return of normal seasonal pattern resulted in higher working capital and, consequently, lower cash flow from operating activities. * Tentative signs of recovery with respect to industrial related cable activities, construction related cable activities in Asia and communication cable activities. The positive effects are expected to show in Draka's results from H2 2010. Comment by Frank Dorjee, Chairman and CEO of Draka Holding N.V.: 'While demand stabilized on most of Draka's end-user markets in the first half of 2010, there was no relief from the highly competitive pressure, but further cost savings compensated for its effects and the operating result was close to that for the second half of 2009. The still fragile international economic recovery which started in 2010 is expected to benefit Draka's end-user markets and results as from the second half of this year. As we pursue our strategy of taking full advantage of market opportunities while exerting rigorous cost control, we expect the operating result (excluding non-recurring charges) in the second half to show an improvement on the first six months of 2010, provided the restoration of international market confidence is sustained.' [1] All figures in this press release are unaudited. [2] Excluding non-recurring items. Total non-recurring items in H1 2010 were € 21.8 million negative (or € 18.5 million net) and related to restructuring costs. Non-recurring items in H1 2009 were € 17.9 million negative [3] Attributable to the equity holders of the Company. [4] Per ordinary share after preference dividend of € 2.7 million. Pdf version of the press release Pdf versie van het persbericht NOTE FOR EDITORS: for more information, please contact: Draka Holding N.V.: Michael Bosman - Director Investor Relations   +31 20 568 9805; michael.bosman@draka.com Cautionary note regarding forward-looking statements This announcement contains forward-looking statements. Forward-looking statements are statements that are not based on historical fact, including statements about our beliefs and expectations. Any statement in this announcement that expresses or implies our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. Such statements are based on plans, estimates and projections as currently available to the management of Draka. Forward-looking statements therefore speak only as of the date they are made and we assume no obligation to publicly update any of them in the light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. A number of significant factors could therefore cause actual future results to differ materially from those expressed or implied in any forward-looking statement. Such factors include but are not limited to conditions on the markets in Europe, the United States and elsewhere from which we derive a substantial portion of our revenue, potential defaults on the part of borrowers or trading counterparties, the implementation of our restructuring programme including the envisaged reduction in headcount and the reliability of our risk management policies, procedures and methods. For more information on these and other factors, please refer to our annual report. The forward-looking statements contained in this announcement are made as of the date hereof and the companies assume no obligation to update any forward-looking statement contained in this announcement. +------------------------------------------------------------------------------+ |2010 Financial calendar (provisional) | |  | +----------------------------------------+-------------------------------------+ |Publication of trading update for the | | |second half of 2010 |Thursday, 11 November 2010 (before | | |start of trading) | |  |  | +----------------------------------------+-------------------------------------+ Company profile Draka Holding N.V. ('Draka') is the holding company of a number of operating companies that are active worldwide in the development, production and sale of cable and cable systems. Draka's activities are divided into three groups: Energy & Infrastructure, Industry & Specialty and Communications. Within these three groups, the activities are organised into divisions. Energy & Infrastructure consists of the Europe and Asia-Pacific divisions; Industry & Specialty consists of the Automotive & Aviation, Elevator Products, Cableteq USA and Industrial divisions and the Communications Group comprises the Telecom Solutions, Multimedia and Specials, Americas and Optical Fiber divisions. Draka has 68 operating companies in 31 countries throughout Europe, North and South America, Asia and Australia. Worldwide, the Draka companies employ some 9,400 people. Draka Holding N.V.'s head office is in Amsterdam. In 2009, Draka reported revenue of € 2.0 billion and net income of € 48.3 million (excluding non-recurring items). Draka Holding N.V. ordinary shares and subordinated convertible bonds are listed on NYSE Euronext Amsterdam. The company is included in the Next150 index and the AMX index (Amsterdam Midkap index). Options on Draka shares are also traded on the NYSE Euronext Amsterdam Derivative Markets. More information on Draka Holding N.V. can be found atwww.draka.com. If you no longer wish to receive Draka Holding N.V. press releases please reply UNSUBSCRIBE to this email [HUG#1438789] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction for further distribution is prohibited. Source: Draka Holding NV via Thomson Reuters ONE