DGAP-News: AURELIUS records higher consolidated revenues and profit in first half of 2012
(firmenpresse) - DGAP-News: AURELIUS AG / Key word(s): Half Year Results
AURELIUS records higher consolidated revenues and profit in first half
of 2012
14.08.2012 / 08:35
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AURELIUS records higher consolidated revenues and profit in first half of
2012
- Half-year revenues up 27% to EUR577.4 million
- EBITDA up 39% to EUR43.0 million
- Pleasing performance in all three business activities
- Further growth expected across 2012 as a whole
Munich, August 14, 2012 - The Munich-based AURELIUS Group (ISIN:
DE000A0JK2A8) increased its consolidated revenues by 27% in the first half
of 2012 to EUR577.4 million (first half of 2011: EUR453.3 million). This
increase can be attributed primarily to the acquisitions that have been
completed over the last twelve months.
The earnings before interest, taxes, depreciation and amortization (EBITDA)
rose by a strong 39% to EUR43.0 million (first half of 2011: EUR30.9
million). This total includes income of EUR24.6 million (first half of
2011: EUR0 million) from the reversal of negative goodwill (bargain
purchase income) from the companies acquired in the first half of 2012 -
Thales CIS, the Feedback Group and Getronics - as well as restructuring and
non-recurring expenses of EUR17.3 million (first half of 2011: EUR15.5
million). The operational EBITDA amounted to EUR35.7 million accordingly
(first half of 2011: EUR46.4 million). In accordance with the provisions of
IFRS 5, the operational EBITDA of the companies sold are no longer included
in this total. The profit or loss of the Getronics activities that were
acquired effective May 2, 2012 was only incorporated in the figures for the
first half of 2012 for a period of two months accordingly.
On account of the provisions of IFRS 5, the gain on the sale of Consinto to
DATAGROUP on February 16, 2012 is, however, included in the profit/loss
from discontinued operations and not recognized EBITDA. The gain on the
sale of Schabmüller GmbH to the ZAPI Group will be posted in the third
quarter, yielding a considerable contribution to profits worth several tens
of millions of euros.
The other key figures reflect the solid performance of AURELIUS. All in
all, a consolidated profit of EUR16.0 million was achieved in the first
half of 2012 (first half of 2011: loss of EUR10.8 million). The net cash
outflow from operating activities totaled EUR1.1 million (first half of
2011: outflow of EUR11.1 million), while the cash and cash equivalents
totaled EUR159.6 million (December 31, 2011: EUR154.4 million). After the
dividend payment of EUR19.2 million, the Group equity ratio at the
reporting date of June 30 amounted to 25% (December 31, 2011: 30%).
Pleasing performance in all three business activities
Success has been achieved in all three business activities: the acquisition
of companies, the operational development of our portfolio companies, and
the disposal of portfolio companies.
AURELIUS has already been very active in that regard, with the acquisition
of IT consultancy Thales CIS, Madrid, Spain, in the first quarter, the
acquisition of the Getronics activities in Europe and Asia from
Netherlands-based KPN effective May 2, 2012 and the platform acquisition of
the Feedback Group based in Crowborough, UK, for our LD Didactic
subsidiary. The acquisition from BayerCropscience of its production
facility in Norwich, UK, that was announced in April is scheduled for
completion by the end of the third quarter.
The operational development of the portfolio companies is for the most part
going well. Two successfully restructured portfolio companies have already
been sold during the current fiscal year, with the disposal of Consinto in
February and Schabmüller at the end of July.
Further growth expected across 2012 as a whole
The first half of 2012 has gone well for AURELIUS. Several transactions
have been successfully completed on both the acquisition and the exit side.
Thanks to the generally good performance of the portfolio companies, the
Executive Board expects AURELIUS to record solid growth again across 2012
as a whole. This positive outlook presupposes that the demanding economic
environment does not deteriorate further. AURELIUS has a very solid
financial base from which it can expand by means of both organic growth and
further acquisitions.
The complete report on the first half of 2012 is available to download at
www.aureliusinvest.de.
Key figures (EUR millions)
01/01 - 06/ 01/01 - 06/30/¹The prior-year figures have been adjusted for comparison purposes, in
30/2012 2011¹Change
Consolidated revenues¹'²577.4 453.3 27.4%
Consolidated revenues (annualized)²1,334.8 936.6 42.5%
EBITDA (operating) 35.7 46.4 -23.1%
thereof income from the reversal of
negative goodwill
(bargain purchase income) 24.6 - / - - / -
thereof restructuring and non-
recurring expenses 17.3 15.5 11.6%
EBITDA (recognized)¹'²43.0 30.9 39.2%
Consolidated profit/loss 16.0 -10.8 248.1%
Earnings per share
basic¹'²(EUR) 1.36 -1.08 225.9%
diluted¹'²(EUR) 1.36 -1.07 227.1%
Cash flow from operating activities -1.1 -11.1 90.1%
Cash flow from investing activities 20.9 -21.3 198.1%
Free cash flow 19.7 -32.3 161.0%
06/30/2012 12/31/2011 Change
Assets 1,127.1 943.6 19.4%
thereof cash and cash equivalents 159.6 154.4 3.4%
Liabilities 848.0 661.1 28.3%
thereof financial liabilities 200.9 185.7 8.2%
Shareholders' equity³279.1 282.5 -1.2%
Equity ratio³(%) 24.8 29.9 -17.2%
Workforce at the reporting date 9,453 6,631 42.6%
accordance with the provisions of IFRS 5²From continuing operations³Incl. minorities
About AURELIUS
The AURELIUS Group specializes in acquiring companies with potential for
development that can be unlocked with close operational support. AURELIUS
concentrates on identifying, analyzing, creating and exploiting all the
opportunities afforded by the market when acquiring its portfolio
companies. The AURELIUS Group views itself as a long-term good home for its
subsidiaries. AURELIUS does not focus on particular industrial sectors when
making acquisitions, although it does concentrate primarily on the
following segments: Industrial Enterprises, Chemicals, Business Services,
Consumer Goods / Food&Beverage, and Telecoms, Media&Technology (TMT).
AURELIUS has many years of investment and management experience in various
industries and sectors. AURELIUS employs its management capacity and the
necessary financial resources for product innovation, sales and research in
order to develop the potential of its subsidiaries. With offices in Munich
and London, and subsidiaries in Germany, the UK, France, Poland, Hungary,
the Netherlands, Switzerland, Norway, Belgium, Luxembourg, Slovakia,
Slovenia, the United States, China, Malaysia, India, Thailand and South
Korea, AURELIUS operates throughout the world. The shares of AURELIUS AG
are listed in the Open Market segment of the Frankfurt Stock Exchange and
the m:access segment of the Munich Stock Exchange under ISIN DE000A0JK2A8.
To find out more, visit our website at www.aureliusinvest.de.
Contact
Investor Relations&Corporate Communications
Phone +49 (0)89 544799 - 0
Fax +49 (0)89 544799 - 55
investor(at)aureliusinvest.de
End of Corporate News
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