Olympia Flexgroup AG / Quarter Results


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Düsseldorf, 20 November 2008
Olympia Flexgroup publishes nine-month figures


• Revenues total EUR 291.3 million  
• EBIT stable at EUR 9.9 million (EBIT margin: 3.4%)
• Sales growth in the Netherlands, Italy, Poland and Portugal
• Cost reduction measures

'Despite the difficult economic environment,' says Olympia Flexgroup CEO
Marcel Slaghekke, 'we worked very well in the third quarter of the current
fi-nancial year. We concentrated mainly on opening our first franchise
branch in Spain and further franchise branches in Germany. In the
Netherlands we suc-cessfully launched new software to further optimise
front and back office processes. And the rebranding process – from Allbecon
to Olympia – was completed simultaneously in all six European countries. To
adjust our cost structure to anticipated market development we have
initiated appropriate cost reduction measures. All told, I am very proud of
how our entire team – employees and franchisees – have proved themselves to
be more than a match for these tasks.'

The Olympia Group’s result of operations
In the first nine months of financial year 2008, Olympia Flexgroup AG
devel-op¬ed positively in a difficult business environment. Group sales of
EUR 291.3 million and Group EBIT of EUR 9.9 million are almost unchanged
compared to last year.

Business developed most strongly in the Netherlands, where revenues rose by
10.4% year on year to EUR 177.2 million.

Sales also rose in Italy (+15%), Poland (+82%) and Portugal (+37%). In
Ger-many, revenues were down by 12% to EUR 50.5 million. The four new
fran-chise branches developed very well. The fact that a number of large
German customers are clearly hit by the economic downturn put a strain on
results. In Spain the economic downturn progressed in September: revenues
were down by 22.7% on the previous year to EUR 46.2 million. The Spanish
automobile industry and its suppliers are facing economic difficulties.

In October, measures were undertaken to cut costs and adjust our cost
struc-ture to anticipated business development.

During the third quarter of 2008 growth continued to decline in the
personnel services industry, and sales fell further in October. Our clear
focus continues to lie on profitability and productivity. Accordingly, we
implement necessary measures to adjust cost levels in a timely manner.
Olympia is concentrating on opening further franchise branches in Germany
and Spain. The company expects to open its first branches in Poland and
Italy in 2009.

In view of the crises in financial markets and their repercussions on
further economic development, the company is currently unable to make any
reliable forecasts for the financial year 2008. Our aim continues to be to
achieve an operating result that is at least on a par with the previous
year’s level.

About Olympia Flexgroup AG
Olympia Flexgroup is a European temporary work company with activities in
seven countries, around 200 branches and about 18,000 employees. Our
services comprise general temporary employment as well as in-house
serv-ices. Olympia Flexgroup has specialised know-how in logistics,
production, telecommunications, call centre services and waste management,
facility management, finance and administration. With the entrepreneurial
spirit de-rived from its franchise concept, Olympia Flexgroup is a
dedicated partner for its employees and customers. Our aim is to become one
of the fastest organi-cally growing temporary employment agencies in

Press enquiries:
Kirchhoff Consult AG
Marcel Wiskow
T +49 40 60 91 55
F +49 40 60 91 86 71
E marcel.wiskow@kirchhoff.de
DGAP 20.11.2008 
Language:     English
Issuer:       Olympia Flexgroup AG
              Ernst-Gnoß-Str. 24  
              40219 Düsseldorf
Phone:        +49 (0)211 86 29 86-0
Fax:          +49 (0)211 86 29 86-99
E-mail:       ir@allbecon.de
Internet:     www.allbecon.de
ISIN:         DE000A0LBKV8
WKN:          A0LBKV
Listed:       Regulierter Markt in Frankfurt (General Standard);
              Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
End of News                                     DGAP News-Service