Annual Report 2010 - Falck

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Revenue and organic growth by business area DKK million Revenue EBITA EBITA margin (%) The healthcare clinics in the United Arab Emirates contributed to the growth generated in 2010 but were discontinued at the end of 2010. EBITA rose by DKK 26 million or 54.3% to DKK 75 million (2009: DKK 49 million). This substantial growth in EBITA was attributable to restructuring in Sweden in 2009, which now contributes to earnings. Moreover, the organisation for staffing services was successfully adjusted following the substantial decline in revenue in 2009 and 2010. Training Revenue from the Training business rose to DKK 958 million (2009: DKK 921 million) and accounted for 11.4% of consolidated revenue (2009: 12.2%). The rate of organic growth was minus 1.5%, partly because of the oil spill disaster in the Gulf of Mexico which led to a temporary ban on deepwater oil and gas exploration, affecting activities in the United States in particular. Organic % of total 1) 2010 2009 2010 2009 2010 2009 growth Assistance 29.5 2,470 2,183 269 327 10.9 15.0 8.0 Emergency 57.8 4,834 4,271 329 221 6.8 5.2 7.6 Healthcare 14.3 1,196 1,139 75 49 6.3 4.3 (4.2) Training 11.4 958 921 142 124 14.8 13.5 (1.5) Other 24 Elimination (13.0) (1,091) (985) Group total 100.0 8,367 7,529 839 721 10.0 9.6 5.1 1) Revenue in DKK for 2010 as a percentage of consolidated revenue Management review | Falck Annual Report 2010 33 Revenue in the Netherlands was also adversely affected by restraint in the market and a lower level of activity as a consequence of the economic downturn. However, significant growth was seen in a number of countries of operation in 2010, primarily in Brazil, Nigeria, Thailand and Trinidad & Tobago. In Brazil, oil production is growing rapidly, which has increased demand for training services. In Nigeria, a breakthrough was achieved at Falck’s newly established training centre and a significant increase was seen in the number of course participants. Conversely, the start-up in the United Arab Emirates was more difficult, and the expected level of activity was not reached. EBITA for the Training business rose by 15.1% to DKK 142 million (2009: DKK 124 million). The fall in activity in the United States and the Netherlands and an EBITA loss from the start-up in the United Arab Emirates were more than offset by EBITA growth in the other countries and income for accounting purposes from a change of a defined-benefit pension plan to a defined-contribution plan.
34 Falck Annual Report 2010 | Management review Revenue and organic growth by business area DKK million Revenue EBITA EBITA margin (%) Performance by area Denmark Revenue in the Denmark was DKK 5,292 million (2009: DKK 4,928 million), equivalent to a 7.4% increase, of which 4.2% was organic growth. As a result of the revenue growth, EBITA increased to DKK 542 million (2009: DKK 449 million). The EBITA margin for 2010 was 10.2% (2009: 9.1%). Nordic region Revenue from operations in the Nordic region (excluding Denmark) increased by DKK 308 million or 24.9% to DKK 1,541 million. The rate of organic growth was 9.9% and was generated by the Assistance and Emergency business. EBITA was DKK 108 million (2009: DKK 40 million), equivalent to an EBITA margin of 7.0% (2009: 3.2%). The increase in EBITA and the EBITA margin was attributable to higher earnings from Norway, Sweden and Finland. Europe Revenue in Europe (excluding Denmark and the Nordic region) totalled DKK 1,087 million (2009: DKK 1,040 million), equivalent to a growth rate of 4.5%, of which organic growth Organic % of total 1) 2010 2009 2010 2009 2010 2009 growth Denmark 63.3 5,292 4,928 542 449 10.2 9.1 4.2 Nordic region 18.4 1,541 1,233 108 40 7.0 3.2 9.9 Europe 13.0 1,087 1,040 121 156 11.1 15.0 1.3 Rest of the world 5.3 447 328 68 76 15.2 23.2 12.0 Group total 100.0 8,367 7,529 839 721 10.0 9.6 5.1 1) Revenue in DKK for 2010 as a percentage of consolidated revenue accounted for 1.3%. The growth was primarily attributable to an increase in the level of activity in the Emergency business in Slovakia, Romania and Spain, whereas lower activity was seen in the Emergency and Training business in the Netherlands in 2010. EBITA was DKK 121 million (2009: DKK 156 million), equivalent to an EBITA margin of 11.1% (2009: 15.0%). The fall in EBITA and the EBITA margin was due to lower earnings in Slovakia and the Netherlands as compared with 2009. Rest of the world Revenue in the rest of the world was DKK 447 million (2009: DKK 328 million), equivalent to a growth rate of 36.5%, which was primarily attributable to the Training activities in Brazil and Nigeria and the acquisition of the ambulance service provider Toesa in October 2010. Conversely, the training activities in the United States experienced falling revenue due to the oil spill disaster in the Gulf of Mexico. The organic growth rate was 12.0%. EBITA was DKK 68 million (2009: DKK 76 million). The 10.5% decline in earnings was due to the fall in revenue from the training activities in the United States and costs of building up the training centre in the United Arab Emirates. The EBITA margin showed a corresponding decline to 15.2% from 23.2% in 2009.
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