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26.07 09:46:56

Spicers helps ADVEO increase profits - Spain

ADVEO (previously Grupo Unipapel) achieved a net profit of €10.59 million in the first half of the year compared with €3.88 million in the same period of the previous year, excluding the extraordinary income from the sale of Ofiservice1. This increase is due mainly to the global integration of Spicers, which has allowed the Group to increase its sales, operative margins and profit.

ADVEO increased its turnover in the first six months of the year 34% over the figure recorded in the first half of 2011 and reached €599.491 million. Group EBITDA rose to €27.563 million thanks to the contribution of Spicers and costs control carried out by ADVEO.

Partly due to Spicers incorporation, 67% of ADVEO sales come from international markets and 33% from Spain. ADVEO says it consolidates its position as the European leading company in the wholesale distribution of office products, services and solutions.

ADVEO, in addition, has added during this first half of the year more profitable products and it has reached a more balanced portfolio. In this sense, 57% of ADVEO sales belong to electronic office supplies, a 28% to traditional office products and 15% to printers, office machines and general services.

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