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BUSINESS UPDATE FIRST QUARTER 2008
. Volume growth in line with market
. Price pressure unchanged
Activities
The first quarter of 2008 showed no improvement in the markets where RSDB operates. Pressure on prices is high and remains undiminished. Volume growth is in line with market trends. Competition is fierce, especially in France and the UK, with added pressure coming from the deteriorating Sterling/Euro exchange rate. The costs of raw materials (paper and ink) and energy are increasing more rapidly than in previous years.
During the remainder of the year we shall continue to concentrate on improving plant occupancy, cost control and monitoring our working capital. The investments in Senefelder Misset involve the construction of a new hall and are running according to schedule. The fourth quarter will see the finishing machines rehoused and the installation of a new perfect binding machine. In the first quarter of 2008, approval was also given to Roto Smeets Deventer to invest in a K6 engraving machine, while Roto Smeets GrafiServices Utrecht is to get a new Speedmaster XL5 press.
In view of the present market conditions we are unable to make any statement about the expected result for 2008.
Major events
On 13 March we announced that RSDB had received information from an investor (the "Investor") stating an intent to make a public offer for all of the issued ordinary shares of RSDB of € 40.00 per share cum dividend. On 20 March we announced that constructive talks had started between the Investor and RSDB. One of the conditions underlying the bid was a satisfactory due diligence inspection of our accounts. It was due to this development that we announced on 23 April that the General Shareholders’ Meeting would be rescheduled. It will now be held on 27 June 2008, at 09:30 hrs in the Rosarium, Amstelpark 1, Amsterdam. Further information, including the agenda and supplementary papers, will be made available in due time.
The due diligence audit has now been completed and we expect to be in a position to make further statements this month.
| Important Dates: |
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| General Meeting of Shareholders |
27 June 2008, 09:30 hrs |
| Ex-dividend date |
1 July 2008 |
| Dividend Payment date |
from 11 July 2008 |
| Press release 2008 half-year results |
August 14, 2008 |
| Business update third quarter 2008 |
November 13, 2008 |
| Press release 2008 full-year results |
March 19, 2009 |
| General Meeting of Shareholders |
April 15, 2009 |
RSDB NV
Management Board
Hilversum, 15 May 2008
For further information
| RSDB: |
J. Caris, CEO |
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E. Bouwman, CFO |
| Tel. |
(+31) 35 625 86 03 |
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