|
Applus, the quality management systems company owned by Carlyle, a private equity firm, saw turnover increase 25% to €550 million in the first eight months of this year, while its operating profit was up 35% to €55 million. The company foresees a 20% increase in sales (800 million) and 30% rise in operating profits (125 million) for the entire year. Pedro de Esteban, head of the Carlyle Group Spain and CEO at Applus, remarked that given the current environment, the results are spectacular and show that companies with high added value can survive in times of crisis.
According to Esteban, the entire certification industry is growing – between 8% and 10% worldwide. Applus did not provide figures on its net result, and according to the CEO that is irrelevant, since the results are not negative, and all resources are allocated to investments and to reducing debt. The company is committed to investing 400 million in four years and 100 million this year. Shareholders will not receive dividends during that period, and all profits will be reinvested into Applus.
So far this year Applus has acquired three companies (in Norway, Great Britain and the United States) and won the exclusive contract for the Illinois Vehicle Emissions Testing Program. The company´s strategic plan contemplates doubling in size, and eventually being listed on the stock exchange. Carlyle is customarily with a company for four to six years, depending on the strategy. If it sees the need to stay longer, it will.
Priority growth areas include China, India and the United States.
|
10/8/08
Back 
