Press Release
EA Group Announces 2008 Results
29-Apr-2009
Claude Tendil, Chairman of the Management Board of the Europ Assistance Group and Martin Vial, CEO of the Europ Assistance Group, today presented the Europ Assistance Group's results for 2008, revealing a sharp rise in sales and operating profit.
In 2008 the Group's sales totalled 1.208 billion euros, up by 15% compared to 2007. With this excellent result, for the fourth year running the Group has enjoyed buoyant growth in its activities around the world.
This fine performance, which has resulted in the Group virtually doubling in size since 2004 (640 million euros) also demonstrates the wisdom of its strategic decision taken back in 2004 to develop new growth opportunities in the Health and Home & Family markets while at the same time continuing to push ahead in its traditional core businesses (Automotive and Travel assistance).
The Group's Travel business grew by 74.2% between 2004 and 2008, while the Automotive business expanded by 58.6%. At the same time, the Health and Home & Family activities saw respective growth levels of 185.9% and 69.5%. The percentage of the group's global revenue accounted for by the automotive business fell from 45% to 41.5% between 2007 and 2008, chiefly benefitting the Travel business, whose relative share of the Group's overall sales rose from 29% to 32%, confirming the continued realignment of the Group's activities, with Health and Home & Family now accounting for almost a quarter of the Group's sales (24%).
With current operating income of 46 million euros, up by 18% compared to 2007 (39 million euros) the Europ Assistance Group has boosted the profitability of its businesses thanks to the programs initiated over recent years concerning the productivity and re-engineering of its activities throughout the world.
Finally, in 2008 the Europ Assistance Group achieved a net profit of 14.6 million euros, (a reduction due to the falls in the financial markets during the second half of 2008).
These excellent operational results demonstrate the continued rise of the Europ Assistance Group, which hopes to enjoy another year of sustained growth in 2009 subject to the global economic climate.
Contact: Jessica Ashley - 240-330-1040 - jashley@europassistance-usa.com
