Le Belier Business report FY2007

Business Highlights

Financial overview

(in million euros)	FY2007	FY2006	Rate of change(%)	Factors
Turnover	246.8	220.3	12	-The first effects to be felt after transferring two thirds of Italian operations to Hungary -An upturn in the machining business in Hungary -Significant growth in China, where business increased by 50% within the year and profitability that became positive
Underlying operating profit	3.0	1.7	81
Operating Profit	(1.4)	3.1	-
Net profit	(6.9)	(3.2)	-
EBITDA	22	19.9	11

Contracts
-At the Hungarian subsidiary, new Bosch contracts represented more than 20 million euros per year.

Restructuring
In 2007, the Company implemented restructuring measures in accordance with the roadmap for the second year of its three-year strategic plan (2006-2008).
For 2008, as the last phase of the 2006-2008 strategic plan, the Company will focus on:
-Finalizing European manufacturing restructuring measures by transferring operations from Italy to Hungary and discontinuing operations of the site by the summer;
-Implementing operational adjustments at the Mexican foundry site, whereas the machining site may still generate losses;
-Pursuing the ramp-up of operations in China and machining production in Hungary and confirming their profitability.