DGAP-News: Mensch und Maschine Software SE discloses final 2012 figures
(firmenpresse) - DGAP-News: Mensch und Maschine Software SE / Key word(s): Final
Results
Mensch und Maschine Software SE discloses final 2012 figures
14.03.2013 / 10:02
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Preliminary figures confirmed - dividend kept stable
- Significant profit increase in the continued segments
Wessling, March 14, 2013 - Mensch und Maschine Software SE (MUM - ISIN
DE0006580806), a CAD/CAM specialist company, during the annual accounts
press conference today confirmed the preliminary 2012 figures which had
been disclosed on January 21, and announced that the dividend is kept
stable at 20 Cents, which will again be paid out tax free.
2012 was a successful year for Mensch und Maschine, in spite of the economy
slowdown in Europe and some burden from the business model transition. New
records were reached for sales, gross margin, operating and net profit in
the continued Software and VAR Business segments.
Sales in the segments Software / VAR Business rose by 15% / 26% to EUR
33.62 mln (PY: 29.26) / EUR 85.18 mln (PY: 67.74). Group sales at EUR
118.80 mln were 22% higher than the previous year's EUR 96.99 mln in the
continued segments, and 38% lower than the EUR 191.72 mln total group sales
in 2011 including the discontinued Distribution segment.
Operating profit EBITDA before depreciation, amortization, interest and
taxes climbed to EUR 5.49 mln (PY: 4.37 / +26%) for Software and to EUR
4.48 mln (PY: 1.99 / +125%) for VAR Business. Group EBITDA 2012 at EUR 9.97
mln was 57% above the 2011 level of the continued segments amounting to EUR
6.39 Mio. Even compared to the previous year's EUR 9.1 mln operating EBITDA
including the Distribution business which was sold at the end of October
2011, a small increase was achieved. Only the EUR 15.66 mln total 2011
group EBITDA level including the non-recurring effects from the sale of
Distribution was not reached, as expected.
Net profit after tax and minority shares amounting to EUR 3.62 mln (PY:
continued 1.38 / group total 6.81) nearly tripled in the continued segments
compared to the previous year. Earnings per share amounted to (undiluted)
24 Cents (PY: continued 9.5 / purely operating total 16.5 / total including
non-recurring effects 47).
In the meantime, the sale of Distribution was digested in the balance
sheet. With lower total assets and higher equity, the equity ratio is
approaching the 40% mark. The only drop of bitterness in 2012 was the fact
that the business model transition caused negative operating cash flows,
because the (desired) reduction of the trading business led to a
non-recurring shift from trade accounts payable to bank debt.
'As the ratio between net bank debt and EBITDA amounting to 1.8 is clearly
not critical, we turned down any temporary ideas of lowering the dividend,
and we will again propose to the annual shareholders' meeting to pay 20
Cents, which continues to be tax free' M+M CEO Adi Drotleff says. 'We plan
to leave the dividend unchanged until an increase can be financed from free
cash flows, which will probably be the case by 2015 at the latest. At that
time the transition from Distribution to VAR Business in Europe should be
largely completed, and EPS should be increased beyond the old 47 Cents
record level. In 2016, amortization will drop by more than EUR 1.5 mln from
the 2009 acquisitions, which together with the remaining margin potentialin the VAR segment can give way for EPS to surpass the one Euro barrier by
2018 at the latest.'
End of Corporate News
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14.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Mensch und Maschine Software SE
Argelsrieder Feld 5
82234 Wessling
Germany
Phone: +49 (0)815 3933-0
Fax: +49 (0)815 3933-100
E-mail: investor-relations(at)mum.de
Internet: www.mum.de
ISIN: DE0006580806
WKN: 658 080
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München
(m:access), Stuttgart; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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203890 14.03.2013
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