DGAP-News: SMARTRAC Increases Revenues by 36 Percent in the First Nine Months of 2012 and for the First Time Exceeds Revenues of EUR 70 million per Quarter
(firmenpresse) - DGAP-News: SMARTRAC N.V. / Key word(s): Quarter Results
SMARTRAC Increases Revenues by 36 Percent in the First Nine Months of
2012 and for the First Time Exceeds Revenues of EUR 70 million per
Quarter
09.11.2012 / 07:30
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SMARTRAC Increases Revenues by 36 Percent in the First Nine Months of 2012
and for the First Time Exceeds Revenues of EUR 70 million per Quarter
- Revenues 9M 2012: EUR 189 million, representing an increase of 36
percent on the EUR 139 million generated in the first nine months of
2011
- Sales in Q3-2012 for the first time exceeded EUR 70 million within a
single quarter
- EBITDA 9M 2012: EUR 17.4 million compared to EUR 14.6 million in the
first nine months of 2011
- Outlook 2012: Management confirms target to increase Group sales to
more than EUR 250 million in 2012
Amsterdam, November 9, 2012 - SMARTRAC N.V., the leading developer,
manufacturer and supplier of RFID transponders and inlays, today announces
financial figures for the first nine months of 2012. The company further
increased its revenues and reported total sales of EUR 189 million in the
first nine months of 2012 as compared with sales of EUR 139 million in the
period January to September 2011.
EBITDA for the first nine months of 2012 amounted to EUR 17.4 million in
2012 compared to EBITDA of EUR 14.6 million in 2011. Profit for the period
increased from EUR 1.4 million in the first nine months of 2011 to EUR 1.6
million in the first nine months of 2012.
SMARTRAC Financial Figures at a Glance:
Key Data Consolidated 9 months Consolidated 9 months ChangeGroup Revenues
In Thousands of EUR ended 30 September ended 30 September in %
2012 2011
Consolidated Income
Statement
Revenues 189,297 138,799 36
EBITDA 17,448 14,557 20
Profit for the 1,564 1,429 9
period
Financial Position
and Liquidity
Net cash provided 15,230 2,394 536
by operating
activities
Working capital 36,033 53,731 (33)
Capital expenditure 24,273 12,597 93
Total Assets 331,383 247,281 34
Operating Figures
Basic earnings per 0.08 0.09 (11)
share (EUR)
Operating cash flow 0.800.15 433
per share (EUR)
Equity ratio (%) 50.1 65.5 (24)
Headcount (at 3,626 3,275 11
month's end)
The SMARTRAC Group generated revenues of EUR 189 million in the first nine
months of 2012, representing an increase of 36 percent from the previous
year's figure of EUR 139 million.
Revenue in the Security Segment (Business Units eID and CTA) amounted to
EUR 108.3 million in the first nine months of 2012 compared to sales of EUR
100.4 million in the same period of 2011. From January to September 2012,
the Security Segment accounted for 57 percent of total Group revenue
compared to 72 percent a year ago.
Revenue in the Industry Segment (Business Units Industry&Logistics and
ePI, Neology and Dalton) increased to EUR 80.4 million in the first nine
months of 2012 compared to EUR 37.4 million in 2011. From January to
September 2012, the Industry Segment represented a 43 percent share of
total Group sales of the company compared to 27 percent a year ago.
Group EBITDA
In total, Group EBITDA from January to September amounted to EUR 17.4
million in 2012 compared to EUR 14.6 million in 2011. EBITDA for the first
nine months of 2012, as per definition, excludes non-recurring items such
as costs for restructuring and insurance payments.
EBITDA in the Security Segment amounted to EUR 11.1 million from January to
September 2012 compared to EUR 12.5 million a year ago. The Industry
Segment reported EBITDA of EUR 5.7 million in the first nine months of 2012
compared to EUR 2.4 million in the same period of 2011.
Profit for the period
Profit for the period from January to September increased from EUR 1.4
million in 2011 to EUR 1.6 million in 2012.
Financial Position
Total assets amounted to EUR 331 million as of September 30, 2012, as
compared with EUR 264 million at year-end 2011. The increase in total
assets was predominantly related to the inclusion of former UPM RFID as
well as investments into property, plant, and equipment in the first nine
months of 2012 related to the reconstruction in Thailand. Cash and cash
equivalents increased from EUR 22 million as of December 31, 2011, to EUR
36 million as of September 30, 2012.
Group equity amounted to EUR 166 million as of September 30, 2012, compared
to EUR 139 million as of December 31, 2011. The increase in group equity
mainly results from the proceeds from the capital increase conducted on
March 31, 2012, in relation to the acquisition of former UPM RFID. The
equity ratio subsequently decreased slightly from 53 percent at year-end
2011 to 50 percent as of September 30, 2012.
Cash provided by operating activities amounted to EUR 19 million for the
first nine months of 2012, as compared with EUR 5 million cash provided by
operating activities in the same period of the previous year due to
favorable cut-off effects in the working capital position. Taking into
account interest payments and receipts as well as payments and repayments
for income taxes, the net cash provided by operating activities amounted to
EUR 15.2 million as of September 30, 2012, as compared with net cash
provided of EUR 2.4 million for the first nine months of 2011.
Net cash used in investing activities amounted to EUR 30 million as of
September 30, 2012, as compared with net cash used of EUR 32 million for
the same period of 2011. Higher investments in property, plant, and
equipment are mainly related to the reconstruction in Thailand.
Net cash provided by financing activities amounted to EUR 29 million as of
September 30, 2012, compared to net cash provided of EUR 7 million in the
first nine months of 2011 and related to the cash inflow from the proceeds
of secured loans. In the second quarter of 2012, SMARTRAC has signed a EUR
100 million term and revolving facilities agreement replacing the
syndicated EUR 65 million term and multicurrency revolving facilities
agreement concluded in 2009.
Business Outlook
The SMARTRAC Management expects that the overall positive market trend in
the RFID industry will continue over the last quarter of 2012 and that
SMARTRAC will add another successful year of growth to its company history.
Therefore, SMARTRAC confirms its target to increase Group sales to more
than EUR 250 million in 2012.
From a strategic perspective, the Management Board will pursue the target
to optimize structures and processes in order to further improve overall
efficiency of the Company and profitability of the Group.
The SMARTRAC 9M 2012 Interim Report has been published today and is
available for download on the company's website at www.smartrac-group.com.
About SMARTRAC:
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and
NFC transponders and inlays. The company produces both ready-made and
customized transponders and inlays used in access control, animal
identification, automated fare collection, border control, RFID-based car
immobilizers, contactless payment cards, electronic product identification,
industry, libraries and media management, laundry, logistics, mobile and
smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a
stock corporation under Dutch law with its registered headquarters in
Amsterdam. The company currently employs some 4,000 employees and maintains
a global research and development, production, and sales network.
If you have any questions, please contact:
Tanja Moehler
Head of Corporate Communications&Marketing
SMARTRAC N.V.
Phone: +31 20 30 50 157
Email: tanja.moehler(at)smartrac-group.com
Internet: www.smartrac-group.com
Twitter: www.twitter.com/SMARTRAC_NV
Forward-looking statements:
To the extent that this press release contains forward-looking statements,
such statements are based on assumptions, planning and forecasts at the
time of publication of this press release. Forward-looking statements
always involve uncertainties. Business and economic risks and developments,
the conduct of competitors, political decisions and other factors may cause
the actual results to be materially different from the assumptions,
planning and forecasts at the time of publication of this press release.
Therefore, SMARTRAC N.V. does not assume any responsibility relating to
forward-looking statements contained in this press release. Furthermore,
SMARTRAC N.V. does not assume any obligation to update the forward-looking
statements contained in this press release.
End of Corporate News
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Language: English
Company: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Netherlands
Phone: +31 20 30 50 157
Fax: +31 20 30 50 155
E-mail: investor.relations(at)smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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192352 09.11.2012
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