DGAP-News: QSC planning higher dividend following successful 2012
(firmenpresse) - DGAP-News: QSC AG / Key word(s): Final Results/Preliminary Results
QSC planning higher dividend following successful 2012
04.03.2013 / 07:30
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QSC planning higher dividend following successful 2012
Cologne, March 4, 2013. In fiscal 2012, the QSC Group made great strides as
it traveled the road toward becoming a full-fledged ICT provider, and was
able to conclude a portion of the preparations required for this earlier
than had originally been planned. With revenues of EUR 481.5 million, an
EBITDA margin of 16 percent and a free cash flow of EUR 23.6 million, the
company attained its targets, according to preliminary calculations. Given
QSC's sustained strong financial position and profitability, the Management
Board will propose to the Annual Shareholders Meeting that the dividend be
raised by 1 cent to EUR 0.09 per share. This is the dividend that QSC also
views as the minimum for the coming years.
Highest level of new orders in the company's history
With Direct Sales posting new orders valued at EUR 193.1 million during the
past fiscal year, the QSC Group recorded the highest order backlog in its
history. The majority of these new orders consist of multiple-year
contracts for major Outsourcing projects - a visible manifestation of the
company's successful transformation into a full-fledged ICT provider. The
development of revenues in the business units demonstrates the dynamic of
this transformation process: Revenues in Direct Sales, which together with
Indirect Sales covers ICT business, rose by 24 percent in 2012 to EUR 187.9
million; Indirect Sales gained 3 percent to EUR 125.1 million. On the other
hand, revenues with resellers, who cover TC business, decreased by 18
percent in 2012 to EUR 168.5 million. Overall, the QSC Group grew its
revenues by 1 percent during the past fiscal year to EUR 481.5 million,
according to preliminary calculations.
A comparison of EBITDA margins, too, underscores the importance of the
transformation process. In 2012, the QSC Group earned an EBITDA margin of
14 percent in Direct Sales, in spite of considerable investments in future
growth and the recruitment of some 150 additional people; and Indirect
Sales, which had already been more industrialized, earned an EBITDA margin
of 27 percent. The EBITDA margin with resellers, on the other hand, stood
at 11 percent - and the trend is downward. Overall, QSC earned an EBITDA
margin of 16 percent in 2012; as a result of investments in future growth,
as well, the company's EBITDA for 2012 amounted to EUR 77.9 million,
according to preliminary calculations, in contrast to EUR 79.9 million the
year before. Earnings before taxes totaled EUR 20.7 million, as opposed to
EUR 23.4 million in fiscal 2011. Given the company's sustained
profitability, the Management Board will propose to the Annual Shareholders
Meeting on May 29, 2013, that the dividend be increased by 1 cent to EUR
0.09 per share.
Outlook for 2013: Stronger financial position and greater profitability
The current fiscal year will be characterized by a two-track development of
operative business at the QSC Group: Significantly rising ICT revenues will
again be offset by further declines in TC revenues. Moreover, various
rulings by the German Federal Network Agency that were made in the autumn
of 2012 will result in an additional year-on-year shortfall of some EUR 30
million in TC business. In November, the German Federal Network Agency had
lowered mobile termination fees by 45 to 47 percent and fixed-network
termination fees by 20 to 40 percent, while also modifying the fee
structure.
Given this backdrop, QSC is planning on overall revenues of at least EUR
450 million for fiscal 2013. In spite of declining revenues, QSC
anticipates higher profitability and a stronger financial position: The
EBITDA margin in 2013 is likely to rise to at least 17 percent, with an
increase of at least EUR 24 million planned for free cash flow. 'Our
strategy is working,' states QSC Chief Financial Officer Jürgen Hermann,
who will succeed Dr. Bernd Schlobohm as Chief Executive Officer on May 30,
2013. 'Step by step, QSC is withdrawing from TC business and participating
in the growth of the ICT market. In fiscal 2013, we will be bringing
further in-house Cloud product developments to market, winning additional
Outsourcing projects and thus strengthening our position in the ICT market.
In doing so, we are creating a good foundation for achieving our Vision
2016!' The QSC Group has its sights set on revenues of between EUR 800
million and EUR 1 billion for fiscal 2016, along with an EBITDA margin of
25 percent and a free cash flow of between EUR 120 and EUR 150 million.
In EUR million 2012 2011*As of December 31
Revenues 481.5 478.1
EBITDA 77.9 79.9
EBIT 24.6 26.2
EBT 20.7 23.4
Free cash flow 23.6 41.0
Net liquidity* 35.2 24.1
Capital expenses 37.0 35.6
Workforce* 1,485 1,334
Queries to:
QSC AG
Arne Thull
Head of Investor Relations
Phone: +49 221 6698-724
E-mail: invest(at)qsc.de
Notes:
The 2012 Annual Report will be available for download at
www.qsc.de/en/qsc-ag/investor-relations.html from March 28, 2013. This
corporate news contains forward-looking statements. These forward-looking
statements are based on current expectations and forecasts of future events
by the management of QSC AG. Due to risks or mistaken assumptions, actual
results may deviate substantially from those made in such forward-looking
statements.
End of Corporate News
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04.03.2013 Dissemination of a Corporate News, transmitted by DGAP -a
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Language: English
Company: QSC AG
Mathias-Brüggen-Straße 55
50829 Köln
Germany
Phone: +49-221-6698-724
Fax: +49-221-6698-009
E-mail: invest(at)qsc.de
Internet: www.qsc.de
ISIN: DE0005137004
WKN: 513700
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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202832 04.03.2013
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