Business News

Océ publishes 1st quarter 2010 results

Tuesday 06. April 2010 - Océ reports recovery in some markets

Highlights first quarter:

Some markets showed signs of recovery
Revenues € 614 million (-5% organically)
Operating income € 7 million
Free cash flow – € 64 million
Net loss € 5 million
Canon transaction closed successfully
Priority on cross-selling opportunities with Canon

Comments by Rokus van Iperen, Chairman of the Board of Executive Directors:
‘Although our revenues were still declining in first quarter 2010, the decrease was less significant than in each of the three previous quarters. Some of our key markets are showing signs of either stabilizing or even picking up.
Europe remained very weak in all segments but customers in the United States and Asia appeared to gain confidence and cautiously started buying again. Our cost savings program continued to be well on track but could only partly mitigate the effects of the revenue decline.
Between January and March 2010, a total of 85% outstanding Océ common shares were acquired by Canon, enabling this compelling combination to close successfully. Our priority and focus in the short term is cross-selling of Canon products in Océ channels and vice versa. Integration activities will be carefully considered, taking the current shareholding structure into account.’