No significant events have occurred during the first six months of 2009. A detailed report over the first six
months of 2009 can be found in the press release of 21 August 2009.
2. Consolidated income statement
(x 1,000 euro) June 2009 June 2008
Operating income 191,089 171,543
Turnover 190,173 170,456
Other operating income 916 1,087
Operating expenses (175,780) (156,388)
Trade goods (100,065) (90,755)
Services and other goods (29,012) (25,957)
Employee benefit expenses (40,386) (36,932)
Depreciation and amortization (5,642) (3,556)
Other operating expenses (674) 812
Operating profit 15,309 15,155
Financial income 129 94
Financial expenses (4,495) (3,320)
Profit before income tax 10,943 11,929
Income tax expense (1,548) (2,031)
Profit after income tax 9,396 9,898
Attributable to:
Equity holders of the company (net result) 9,362 9,880
Non-controlling interest 34 18
Profit for the period 9,396 9,898
Profit for the period per share (in euro) 0.31 0.32
Diluted profit per share (in euro) 0.31 0.32
Recurring net profit per share (in euro) 0.40 0.36
Diluted recurring net profit per share (in euro) 0.40 0.36

3. Statement of financial position
(x 1,000 euro) June 2009 December 2008
Non current assets 265,720 254,215
Intangible assets 210,231 201,126
Property, plant and equipment 35,319 34,473
Financial assets 1,061 1,061
Deferred tax assets 18,236 16,598
Other non current assets 873 957
Current assets 172,869 163,518
Inventories 62,212 62,808
Trade receivables 69,531 65,975
Other current assets 19,092 16,232
Cash and cash equivalents 22,034 18,503
Total assets 438,589 417,733
Equity 185,941 185,530
Shareholder’s equity (parent) 191,764 191,666
Treasury shares (7,881) (8,120)
Non-controlling interests 2,058 1,984
Non current liabilities 154,662 131,248
Provisions 846 811
Pension obligations 2,822 3,044
Deferred tax liabilities 4,234 4,941
Borrowings 144,449 120,876
Financial instruments 2,311 1,576
Current liabilities 97,985 100,955
Borrowings 1,297 2,018
Financial instruments 2,996 2,385
Trade payables 59,399 64,624
Taxes, remuneration and social security 22,372 20,747
Other current payables 11,923 11,182
Total equity and liabilities 438,589 417,733

6. Earnings per share
The weighted average number of ordinary shares outstanding at 30 June 2009 equals 30,208,308 against
30,931,956 at 30 June 2008. This results in a basic earnings per share of € 0.31. The diluted earnings per
share also equals € 0.31.
The total number of Arseus shares equals 31,195,121 representing the capital on 30 June 2009, Arseus NV
has obtained the ownership of 973.915 of the outstanding shares.
Recurring net profit per share for the period is defined as net result before non-recurring items and
revaluation of financial derivatives after taxes.
7. Notes to the interim financial information
1. General information
Arseus NV (the ‘Company’) and its subsidiaries (together the Group) are suppliers of products and
services with high added value to the European healthcare professionals and institutions. The
Group has activities in sixteen European countries in 2009. The company is a limited liability
company. The Company is incorporated and domiciled in Belgium, having its registered office at
Textielstraat 24, 8790 Waregem. The company registration number is BE 0890 535 026.
The shares of the Company are listed on the regulated markets Euronext Brussels and Amsterdam.
This condensed consolidated interim financial information was approved for issue on 19 August
2009 by the Board of Directors.
2. Basis of preparation for condensed consolidated interim financial information
This condensed consolidated interim financial information for the six months ended 30 June 2009
including the comparable figures of 2008 has been prepared in accordance with IAS 34, ‘Interim
Financial Reporting’, like adopted by the European Union. The condensed consolidated interim
financial information should be read in conjunction with the annual financial statements for the
year 2008, which is available on www.arseus.com.
3. Summary of the most important accounting policies
The accounting policies used to prepare the consolidated interim financial statements for the
first half of 2009 are consistent with those applied in the Arseus consolidated financial
statements for the year ended 31 December 2008.
The policies have been consistently applied to all the periods presented.
A summary of the most important accounting policies can be found in the 2008 annual report. The
annual report can be consulted through the following web link: www.arseus.com.
This condensed consolidated interim financial information has been prepared in accordance with
the IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as
from 30 June 2009 which have been adopted by the European Union.
The following new standards and amendments to standards are mandatory for the first time for
the financial year beginning 1 January 2009:
• IAS 1 (revised), “Presentation of financial statements”;
• IFRS 7 (amendment), “Improving disclosures about financial instruments”;
• IFRS 8 “Operating segments”.
• IAS 39 (amendment) “Financial instruments: Recognition and measurement”.

Lees het gehele rapport op www.arseus.com