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Mecalux has closed the third quarter of 2009 with a turnover of 298.2 million euros, representing a decrease of 39.9% with respect to the same period last year. Mecalux ascribes this result to a decreased global economic activity and a delay in investment decisions making of many companies. In this context, the Group has made a major effort in reducing costs while gaining in efficiency. The Company continues its commitment to new technologies and its development plans in the R&D area. Its flagship product, Mecalux Easy has already been launched in the 14 countries where the company operates, and has been presented in trade fairs such as SIMO Network in Madrid.
Increased number of orders in the NAFTA area of 49%
The recently acquired incorporation of the company Interlake, represented an increase in the number of orders in the NAFTA area of 49% with respect to the same period last year. For Mecalux this indicates a gradual recovery in the NAFTA area, which already accounts for 22.5% of the Group’s sales. In the Southern European markets (Spain, France, Italy and Portugal) the turnover has dropped by 45% with respect to the same period last year. In Mercosur, there has been a decrease of 46%. This area constitutes 10.5% of the Group’s sales.
Net result
The Group's net result was -11.6 million euros, while in the third quarter of 2008 it amounted to EUR 39.6 million.
Moreover, the EBITDA for the third quarter reached 0.3 million euros, reflecting the impact of decreased activity. Mecalux expects that the benefits of the cost reduction process will show in the coming months.