Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 26RegionsWavin’s regional structure now consists of four regions rather than six, with the mature WesternEuropean markets integrated into two to benefi t from scale and to realise synergies. The Nordic(excluding the Baltic states) and the North West Europe region (the Netherlands, Germany and Belgium)merged to form the new North West Europe region. Our UK/Ireland and South West Europe (France)regions have been combined into the new South West Europe region. In the emerging markets, theBaltic countries (Lithuania, Estonia and Latvia) were transferred from the Nordic to the Central & EasternEurope region. The South East Europe region remained unchanged.Integration ofWestern EuropeanregionsThis regional alignment will help us to both strengthen cross border activities and ensure cost effectiveoperations by harmonising and integrating processes and reducing complexity in the organisation.It will encourage faster roll-out of innovative products and concepts across our European markets andfacilitate ongoing optimisation of our manufacturing footprint.Results per regionRevenue (€ × 1 million) 2010 2009* CHANGENorth West Europe 405.8 410.1 (1.0%)South West Europe 370.1 342.2 8.2%Central & Eastern Europe 199.0 179.3 11.0%South East Europe 197.8 184.4 7.3%Overseas and Other 58.6 43.6 34.4%Total revenue 1,231.3 1,159.6 6.2%Ebitda (€ × 1 million)North West Europe 30.7 33.3 (7.8%)South West Europe 25.7 22.1 16.3%Central & Eastern Europe 28.8 28.5 1.1%South East Europe 9.0 12.5 (28.0%)Overseas and Other 9.9 14.0 (29.3%)Total Ebitda 104.1 110.4 (5.7%)Ebitda marginNorth West Europe 7.6% 8.1%South West Europe 6.9% 6.5%Central & Eastern Europe 14.5% 15.9%South East Europe 4.6% 6.8%Overseas and Other 16.9% 32.1%Total Ebitda margin 8.5% 9.5%* Comparative figures have been adjusted to reflect the changes in regional structure.North West Europe(the Netherlands, Germany, Belgium, Denmark, Norway, Sweden, Finland)(€ × 1 million) 2010 2009* CHANGERevenue 405.8 410.1 (1.0%)Like-for-like growth % (2.7%) (18.3%)Ebitda 30.7 33.3 (7.8%)Ebitda margin % 7.6 8.1* Comparative figures have been adjusted to reflect the changed regional structure.Revenue in the North West region fell by 1.0% to € 405.8 million. The market recovery in theScandinavian countries partly compensated for the sharp decline in the Netherlands. Ebitda came inat € 30.7 million, from € 33.3 million in 2009. The Ebitda margin dropped to 7.6%, from 8.1% in 2009.