We are delighted to present to you the Dane-Elec Memory Group’s results as they evolved during 1998:
- Sales in line with forecast at 179.5 million euros, 23% up on 1997
- Operating income doubled to 5.9 million euros
- Income of 4.2 million euros showing sustained growth of 75%
Despite a difficult DRAM market over recent years, these excellent results confirm that we have taken the right strategic decisions in a sector that has been our core interest for more that twelve years.
Through our ability to anticipate, we have been able to install the essential elements of the Group’s expansion. Our two memory module assembly plants in Ireland and the United States are already reaping the benefits of our manufacturing investments. The Group’s organization into production and marketing subsidiaries, in parallel with our complementary Intervalle and ICN businesses, gives us a substantial lead in terms of increased reaction times and profitability. We have also been able to gather around us the skills necessary for international growth.
Dane-Elec Memory will continue its ongoing strategy of being ahead of the market by strengthening the relationships of trust that we have with our supplier-partners and our 17,000 customers. The quality of our production, the reactivity of our sales organization and the growing strength of our research and development side are all part of this policy.
We are grateful to our shareholders, partners and employees for their loyalty in 1998. The tremendous growth potential of the memory market in the coming years gives us reason to look to the future with confidence.
MESSAGE FROM THE DIRECTORS