Hagemeyer Reports 2007 Profits of $229 Million, Up 3.4 Percent

CEO Rudi de Becker said 2007 was "another year of spectacular progress for Hagemeyer" today when the Dutch company released its 2007 full-year results. They include net profit of 156 million euros, equivalent to about $229 million in U.S. dollars -- the highest profit for a full year for Hagemeyer in the past five years. The company is in the process of being purchased by Rexel and has its Extraordinary General Meeting of Shareholders set for Feb. 25 in Amsterdam. Net profit was up 3.4 percent from a year ago, but even better when considering change-of-control related costs of 10 million euros were recorded this year, he said.

The 2007 results show 6,444 million euros ($9.45 billion U.S.) in net revenue companywide and gross margin of 23.0 percent, on par with the gross margin for the past three years. Net revenue was 6,228 million euros in 2006, 5,595 million euros in 2005, and 5,427 million euros in 2004, by comparison. De Becker pointed to exceeding 2007's goal of 9 percent return on invested capital for the core Professional Products and Services unit as a highlight.

PPS North America's net revenue declined to 1,280 million euros in 2007 from 1,407 million in 2006, according to the company's posted results. Gross profit for this unit fell from 317 million euros in 2006 to 292 million in 2007. The release says organic revenue growth in the United States turned negative in the second half of 2007 because two government contracts expired and weren't renewed in the first half, Hagemeyer wound down some unprofitable large MRO customers, and there was reduced activity from some large Integrated Supply customers, "particularly in the automotive industry." PPS organic growth year-over-year improved in Mexico, Canada, and Europe, the release shows.

Industrial Hygiene Product Showcase

  • Ventis® Pro5

    Ventis® Pro5

    The Ventis Pro5 is the most flexible connected gas monitor on the market, giving you the power to protect workers from up to five gases, manage worker safety from remote locations, and simplify team communication to take the guesswork out of gas detection. It automatically shares real-time gas readings, man-down, and panic alarms between peers – meaning the entire team knows who is in danger and why. By sharing real-time data, workers can also maintain continuous communication without the need for additional infrastructure or devices. Visit us at AIHce booth #927 to learn more! 3

  • Combustible Dust Testing & Process Consulting

    Combustible Dust Testing & Process Consulting

    Industrial Hygiene hazards should include potential combustibility hazards. Our labs provide testing for combustible dust, vapor and chemical reaction hazards. Fauske & Associates uses testing data to solve process safety issues and mitigate potential accidents in the chemical and nuclear industries. Custom solutions include site assessments, testing, engineering, consulting and training. 3

  • Tether Track™

    Tether Track™

    Tether Track™ Protects Your People From Fall Risks Gorbel’s Tether Track™ Rigid Rail Fall Arrest Anchor Systems are a cost-effective way to reduce the risk of worker injury in elevated work environments. They’re available in Ceiling Mounted, Free Standing Monorail, and Bridge Anchor Systems. Customized solutions designed to fit your needs in either indoor or outdoor settings. Reduce the risk of falls without impacting productivity! 3

Featured

Webinars