DGAP-News: exceet Group SE: exceet increases sales and order backlog in Q1 2012
(firmenpresse) - DGAP-News: exceet Group SE / Key word(s): Interim Report/Quarter
Results
exceet Group SE: exceet increases sales and order backlog in Q1 2012
15.05.2012 / 08:00
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Press release
exceet increases sales and order backlog in Q1 2012
- Group sales rose by 29.3%
- Order backlog soared to EUR 103.1 million (+ 67.4%)
- Management confirms 2012 guidance for sales and profit
Luxembourg, May 15, 2012 - exceet Group SE has made a successful start into
the 2012 financial year. Group sales rose by 29.3% and reached EUR 46.0
million compared to EUR 35.6 million for the same period in the previous
year. While organic growth stood at around 3%, the bigger part of total
group sales growth was attributable to two acquisitions, Contec and
AuthentiDate, contributing to the group's performance since the second
quarter of 2011. Sectorwise, medical technology and industrial automation
were the main contributors to this positive business development. exceet
closed a number of long-term contracts with significant growth potential in
the upcoming years. The group signed an extended contract with Siemens
worth more than EUR 40 million over the next three years. As of March 31,
2012, the order backlog in the Group amounted to EUR 103.1 million which is
67.4%, or EUR 41.5 million higher than in Q1 2011 (EUR 61.6 million).
In the reporting period EBITDA decreased slightly in absolute terms from
EUR 5.6 million in Q1 2011 (EBITDA margin of 15.7%) to EUR 4.9 million in
Q1 2012 (EBITDA margin of 10.7%). This partly reflects listing costs
kicking in for the first time. Despite positive absolute profit
contributions the acquisitions showed a short-term margin-dilutive impact.
On a like-for-like basis the Group would have reached an EBITDA margin of
12.8%, still lower than a year ago, but exceet is convinced to improve the
margins of the acquired companies to the group level within the next 12-15
months.
The group is investing in future growth prospects in the medtech and
industrial automation sectors. Driven by high order income, exceet is
hiring skilled and specialized personnel. Additional investments have been
taken into plant equipment to expand production capacity.
Regarding the overall result for the first quarter 2012 (loss of EUR 2.6
million compared to a profit of EUR 2.8 million in 2011), accounting
requirements led to a fair value adjustment of EUR 4.0 million for the
public warrants outstanding. exceet has to treat its public warrants as
derivatives and financial liabilities at fair value. Due to the price
appreciation of the public warrants by EUR 0.20 between December 31, 2011
and March 31, 2012 the company's liability for warrants increased by EUR
4.0 million. Without this corresponding financial impact, the overall
result would have shown a profit of EUR 1.4 million.
Outlook
Despite the Q1 drop in the EBITDA margin, the management reiterates its aim
of increasing sales by at least 20% this year and, at the same time,
keeping the EBITDA margin stable versus 2011 for the entire year. The
management is firmly committed to its medium-term goal of raising the
EBITDA margin to 18%.
In the near future the management plans to take opportunity of new
acquisitions in the ECMS segment. exceet is working constantly on cost
optimization for manufacturing projects and improvements in procurementprocesses. Thus, the Group is actual streamlining its production facilities
by merging production sites in the IDMS segment.
Further Information:
Fabian Rau, Vice President Investor Relations
E-mail: f.rau(at)exceet.ch
Phone: +41 (0)79 3125998
ISIN LU0472835155 (public shares), Regulated Market, Prime Standard,
Frankfurt/Main
ISIN LU0472839819 (public warrants), Regulated Market, General Standard,
Frankfurt/Main
End of Corporate News
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Language: English
Company: exceet Group SE
114, avenue Gaston Diderich
L-1420 Luxemburg
Grand Duchy of Luxembourg
Phone: +352 2600 3181
Fax: +352 2600 3133
E-mail: info(at)exceet.ch
Internet: www.exceet.ch
ISIN: LU0472835155, LU0472839819
WKN: A0YF5P, A1BFHT
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in München
End of News DGAP News-Service
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169851 15.05.2012
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Datum: 15.05.2012 - 08:00 Uhr
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News-ID 146338
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