DGAP-News: HanseYachts AG: 2011/2012 results and additional remarks on capital measures published today
(firmenpresse) - DGAP-News: HanseYachts Aktiengesellschaft / Key word(s): Corporate
Action
HanseYachts AG: 2011/2012 results and additional remarks on capital
measures published today
30.10.2012 / 11:30
---------------------------------------------------------------------
Greifswald, October 30, 2012. HanseYachts AG (ISIN DE000A0KF6M8, WKN
A0KF6M) has today notified through an ad hoc announcement that shareholders
are to vote upon a capital measure, among other agenda items, as part of
its AGM on December 10, 2012. The capital increase is to be composed of a
nominal capital reduction combined with a cash capital increase. The
company will propose to the AGM that the company's share capital be reduced
by EUR 1.75 million, from currently EUR 7 million to EUR 5.25 million,
before subsequently raising it by up to EUR 5 million against cash
contributions. The subscription price for the new shares from the capital
increase was fixed at EUR 1.00 per share. Due to the nominal capital
reduction in a 4:3 ratio to be conducted first, the shares' stock market
price in purely arithmetic terms would increase before the capital increase
in the same ratio compared with the stock market price prevailing at that
time. In the opinion of the Management and Supervisory boards, this thereby
largely eliminates the theoretical risk that the stock market price could
fall below the subscription price during the drawn-out process of the
capital measure. Up to EUR 5 million of liquid assets are to accrue to the
company from the measure, in order to finance further innovations, and to
sustainably strengthen the company's liquidity position. New authorised
capital equivalent to 50 % of the increased share capital is also to be
created, and the AGM is to approve an authorisation to issue a convertible
bond, as well as to create corresponding conditional capital.
The company also published its annual financial statements on its website
during the course of today. These financial statements relate to an
abbreviated financial year for the eleven months until June 30, 2012. The
financial statements show a 1.5 % improvement in sales revenues to EUR 73.3
million compared with the comparable eleven-month period of the previous
year. In particular, the expansion of the dealer network, and the extensive
presentation of new boat models, have unfolded the positive effect intended
in this context. Earnings before interest, tax, depreciation and
amortisation (EBITDA) amounted to EUR -6.7 million, with earnings being
burdened primarily by around EUR 6.0 million of one-off effects arising
from the restructuring of the company. Net income came in at EUR -12.3
million, which particularly reflected impairment losses, including in
connection with the closure of the French subsidiary. Equity in the past
financial year fell to EUR 22.3 million as a consequence of the net loss
for the year which the company incurred, the equity ratio therefore amounts
to 37.4 % (in relation to total assets).
From the company's perspective, the technical structuring of the capital
measure, comprising an initial reduction of the share capital, represents a
necessary step on the path to its sustainable and positive development.
Existing shareholders will incur no dilution of their interests if they
subscribe for the capital increase, and are being given the opportunity to
participate in the company's future development and growth at a
subscription price which is attractive compared with the current stock
market price.
Dr. Jens Gerhardt, Management Board member of HanseYachts AG, commented as
follows: 'HanseYachts has already returned to a good position in operating
terms. The world market for sailing yachts of between 10 and 20 metres fell
for the seventh consecutive time. We managed to report slight growth in
sales in this environment, meaning that we have gained significant market
shares. Our assessment is that the market has bottomed, and is slowly
recovering. Our annual report which we have published today also shows that
the restructuring of our company last year cost more than we expected. We
have been implementing a clear and groundbreaking concept for some months,
which relates to central areas such as sales, marketing, purchasing,
production, our sites, and quality assurance. Today's decision on the
capital measure represents a further important building block as part of
this restructuring. The funds from the capital increase will give us enough
financial scope for manoeuvre to successfully structure the development of
HanseYachts over the next few years, and to gain market shares with further
innovations.'
The company has generated numerous customer orders during the course of the
international autumn trade fairs to date, and has also convinced further
specialist dealers of its innovative and high-quality products. HanseYachts
also anticipates good demand from 'hanseboot', which is currently underway
in Hamburg until November 4. For this reason, the funds to be raised should
serve further and sustainable financing of the operational business as well
as the general optimization of the financial structure.
Dr. Jens Gerhardt went on to add: 'Our majority shareholder AURELIUS has
signalled to us that it intends to participate accordingly in the financing
of HanseYachts as part of the capital increase. We can say quite clearly to
our customers and dealers: HanseYachts is fully on track. We remain the
stable partner that you are already familiar with.'
For the 2012/13 financial year commencing on July 1, the Management Board
is assuming significant earnings improvements, and positive operating
earnings before interest, tax, depreciation and amortisation (EBITDA). A
continuation of this positive trend is also expected in the 2013/14
financial year.
Contact
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Henryk Deter
Phone: +49 (0)611-20 58 55-13
E-Mail: deter(at)cometis.de
Daniela Münster
Phone: +49 (0)611-20 58 55-22
E-Mail: muenster(at)cometis.de
End of Corporate News
---------------------------------------------------------------------
30.10.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: HanseYachts Aktiengesellschaft
Salinenstr. 22
17489 Greifswald
Germany
Phone: +49 (0)3834-5792-25
Fax: +49 (0)3834-5792-81
E-mail: ir(at)hanseyachts.com
Internet: www.hansegroup.com
ISIN: DE000A0KF6M8
WKN: A0KF6M
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
190768 30.10.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.10.2012 - 11:30 Uhr
Sprache: Deutsch
News-ID 197423
Anzahl Zeichen: 8580
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 246 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: HanseYachts AG: 2011/2012 results and additional remarks on capital measures published today"
steht unter der journalistisch-redaktionellen Verantwortung von
HanseYachts Aktiengesellschaft (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
