Turnover for 1st quarter of 2002 up by 9%

Strong growth in maritime services : + 52.6 %

Consolidated turnover for the first quarter has increased by 9% to reach 231 M€ as compared with 212 M€ pro forma for 2001. Groupe Bourbon's overseas business (+ 16.9%), in both distribution and in maritime services, accounts for most of this growth.

Comparative consolidated turnover

       

millions of euros

1st Q 2002

1st Q 2001

difference

   

pro forma *

 

Consolidated turnover

231

212

9.0 %

France

134

129

3.9 %

International

97

83

16.9 %

       

Distribution

119

103

15.5 %

France

100

94

6.4 %

International

19

9

111.1 %

       

Maritime services

83

83

0 %

of which Offshore

29

19

52.6 %

Towage & Assistance

29

28

3.6 %

Bulk transport

24

30

(20.0 %)

       

Other business

29

26

11.5 %

* pro forma 2001 includes 66% integration of the Distribution branch (in view of the Casino shareholding) together with transfer of the " Réunion-Europe " sugar business in early 2001.

  • As regards Distribution : business in Réunion progressed as foreseen in the plan for 2002-2006 (+ 6.4 %). Strong growth came principally from extension of our perimeter :

    • the effect of openings in March, April and May 2001 in Vietnam and Mayotte.

    • the inclusion of the Mauritius store, acquired in November 2001, which switched to the Cora trade name in April 2002.

    • a slight drop in turnover in Madagascar, attributable to the political situation.

      • As regards Maritime Services : the growth of turnover in the offshore oil business (+ 52.6%) reflects policy followed and the impact of the first ships put into service in Angola within the scope of the ExxonMobil contract.

Furthermore, the 50% integration of Delba Maritima business added to the growth of turnover and to the group's diversification, both geographically (Brazil) and in terms of clients (Petrobras).

The new ships put into service (Angola and Congo) and the consolidation of Island Offshore II as of the second quarter should ensure steady growth for our Offshore Maritime Services throughout the year 2002.

The towage business has continued to develop as foreseen in the plan for 2002-2006 whereas bulk transport has felt the effects of a worldwide downturn and a drop in freight rates.

  • Other business interests (principally Vietnam Sugar and Industrial Fishing) have filed first-quarter results in line with our estimations.

Regarding Groupe Bourbon :

Founded in 1948, the Groupe Bourbon was introduced on the Secondary Market of the Paris Stock Exchange in 1998.

A major policy decision disengaged the group's food-processing interests as of 2000 and refocused its business on Distribution in the inter-tropical zone and on Maritime Services. The Groupe Bourbon now seeks to make its presence felt as a major service provider for deep-water drilling platforms and to benefit from the high growth rate in this field.

Paris, May 13th 2002

Press contact : Caroline Simon, 01 53 70 74 70, csimon@image7.fr

Company contact : Patrick Mangaud, 01 40 13 86 09, pmangaud@groupe-bourbon.com