Key Ratios - Return on equity (ROE) Return on equity (corresponding to the ratio of net profit to equity) stood at 16.4% in 2008, on a par with previous years. - Return on assets (ROA) Excluding Satisloh, return on assets (corresponding to the ratio of EBIT to non-current assets and working capital) amounted to 24.1%.
27 ACQUISITIONS IN 2008
In 2008, Essilor maintained its sustained pace of external growth, carrying out 27 acquisitions during the year, mainly prescription laboratories. This strategy was deployed in all regions, with 15 acquisitions in North America, seven in Europe, three in Asia and one in Brazil, as well as Satisloh, the world leader in optical manufacturing solutions for prescription laboratories.
During the year, Essilor acquired all outstanding shares of Satisloh Holding AG. Created by the merger of Satis and Loh in 2004, Satisloh has a global distribution network and is the world's leading supplier of prescription laboratory equipment. It manufactures and markets anti-reflective coating units and surfacing machines, as well as consumables, to independent prescription laboratories, integrated lens manufacturers and optical chains. It reported revenue of EUR139 million in 2008 and has more than 400 employees. The acquisition strengthens Essilor's capabilities for developing innovative products, technologies and services for the entire ophthalmic lens industry.
CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2008 CONSOLIDATED INCOME STATEMENT EUR thousands, except per 2008
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