Alstef 2008 Accounts

Following the high level of orders registered last year, Alstef set a new record in 2008 with sales at €39.8 million, up by 45% compared with 2007 and multiplied by a factor of two during the last three years. Export sales amounted to €15.7 million compared with €8.3 million last year. Income from operation (PBIT) raised to €3.8 million, a 20% increase compared with 2007. For the third year in a row, the operating margin is close to or above the 10% mark. Alstef recorded a net result of €2.5 million, up by 42% compared with last year.

In its first full year of operation, the Montreal-based subsidiary Alstef Canada generated sales of CA$2.8 million with an operating margin of 13.1%. Next year, Alstef will publish consolidated accounts. During 2008 the level of orders booked by Alstef, at €32.9 million including €19.9 million from overseas customers, remains very healthy. This performance, obtained during the developing economic downturn, confirms Alstef’s capacity to export its technology and provides a comfortable backlog (slightly above €30 million) to start 2009.

Alstef anticipates continued growth in 2009, although at a lower rate. Recruiting of qualified staff will continue, to cope with an increased number of projects, and a €1 million investment is planned for the construction of a new conveyor assembly hall on the Boigny site in France.

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