DGAP-News: euromicron AG: euromicron confirms forecasts
(firmenpresse) - DGAP-News: euromicron AG / Key word(s): Half Year Results
euromicron AG: euromicron confirms forecasts
09.08.2013 / 07:00
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Initial integration successes and cost-cutting program
lay the foundation for sustainable growth and achievement of targets
- Consolidated sales: EUR153.1 million, above the strong figure of the
previous year
- Consolidated EBITDA at a very good level of around EUR13.4 million
- Consolidated EBIT for the quarter grown by 28% to EUR5.1 million
- Net debt reduced sharply
- Equity remains strong at 42.7%
- Orders books are EUR127.0 million, up on the previous year
Frankfurt/Main, August 9, 2013 - euromicron drove ahead with integrating
the company in the first half of 2013, achieving important first milestones
on an operationally stable basis. The various integration measures - such
as the move to modern, forward-looking establishments, expansion of the IT
infrastructure and reorganization of management structures at the company -
continue to be flanked successfully by investments in product innovation, a
rigorously applied, group-wide cost-cutting program and optimization of
processes.
Consolidated sales Whereas the ICT market has not picked up speed as
expected due to the fact that strategies in the telecommunications industry
remain heterogeneous and investment activity is restrained in individual
sectors, the euromicron Group generated stable consolidated sales of
EUR153.1 million in the first half of 2013, slightly surpassing the strong
figure of EUR152.8 million for the same period of the previous year.
Consolidated income Despite the costs of integration, earnings before
interest and taxes (EBIT) were approximately at the level of the previous
year and were around EUR9.2 million (previous year: EUR9.7 million). A
comparison of quarters shows initial positive effects of the integration
measures and the flanking cost-cutting program: Consolidated EBIT rose by
around 28% to EUR5.1 million from April to June 2013, following EUR4.0
million in the same quarter of the previous year. EBITDA was at the good
level of EUR13.4 million (previous year: EUR13.7 million). The EBITDA
margin was within the planned target corridor at around 8.8%. Operating
income of the associated companies was EUR12.1 million, compared with
EUR12.5 million in the previous year. Net income for the period was EUR5.0
million at June 30, 2013, compared with EUR5.4 million in the previous
year. Undiluted earnings per share were EUR0.76, almost equaling the good
level of the previous year (EUR0.82).
Order situation at the Group New orders were EUR154.8 million, some 5% up
on the previous year (EUR148.0 million). Order books were around EUR127.0
million, about 3.5% above the previous year's EUR122.7 million. We are not
currently aware of any risks from significant project delays or
postponements.
Balance sheet structure The euromicron Group's total assets increased to
EUR285.9 million at June 30, 2013, a rise of EUR2.0 million over the figure
at December 31, 2012 (EUR283.9 million).
Personnel 1,759 persons were employed by the euromicron Group as of June 30
of fiscal 2013. Personnel costs totaled EUR46.2 million (previous year:
EUR43.4 million). A group-wide qualification drive is helping make sure
that staff are given the qualifications required for the Group's next phase
of growth.
Equity Equity at June 30, 2013, was EUR121.9 million, EUR2.9 million above
the level stated at December 31, 2012. The equity ratio was again constant
at a strong 42.7%.
euromicron's share Against a backdrop of considerable market volatility,
the euromicron share began the second quarter of 2013 at a price of
EUR15.66 and stabilized at EUR14.60 by the end of the first half of the
year. Its performance was impacted mainly by the sharp reduction in small
caps (of which euromicron's share is one) held by large investors in the
spring. Nevertheless, analysts and research houses continue to trust in the
company's solid economic development and long-term business policy and
believe that an upside target of up to EUR25.50 is realistic.
Outlook 'Our operational business is stable and is running in line with our
planning. On this good foundation, we intend to tackle the next stage of
integration in the second half of 2013 and expand and deepen the measures
planned as part of the Agenda 500. As a result, we will create the
conditions for our company's sustainable, profitable growth to an
annualized sales volume of EUR500 million in 2015,' states Dr. Willibald
Späth, Chairman of the Executive Board.
That means the company will continue to work with the utmost focus and
attention on integrating, adapting and flexibilizing personnel and formal
structures and financial funding in the second half of 2013. This includes
further development and expansion of the established Competence Centers and
shared service units, optimization of management structures, taking over
qualified teams, technologies, employees and patents, deepening the
qualification drive and constant adjustment to the needs of corporate
governance. The various integration measures and initiatives will be
flanked by cost-cutting programs totaling around EUR10 million by the end
of 2014, so that sustainable, profitable growth is generated.
euromicron has set itself a sales target of EUR350 to EUR365 million and an
EBITDA margin of between 8% and 11% for the year 2013. 'We feel certain at
present that we and euromicron - with its business model geared toward
sustainable growth, our clear strategic orientation, a secure basis for
financing and a strong equity ratio - will be able to achieve these
targets,' said Chairman of the Executive Board Dr. Späth.
You can find the Q2/2013 Interim Report as of August 9, 2013, on our
homepage at http://www.euromicron.de/finanzberichte.
euromicron AG (www.euromicron.de) is an all-round solution provider for
communications, transport, data and security networks. euromicron's network
infrastructures integrate voice, video and data transport wirelessly, via
copper cable and by means of fiber-optic technologies. euromicron builds
leading applications, such as security, control, healthcare or surveillance
systems, on the basis of these cutting-edge network infrastructures.
Founded on its expertise as a developer and producer of fiber-optic
components, euromicron AG is a strongly growing, highly profitable group
that is listed on the stock market, has a medium-sized character and
focuses on operational growth, integration and further market penetration,
internationalization and expansion.
Contact:
euromicron AG
Investor&Public Relations
Zum Laurenburger Hof 76
60594 Frankfurt/Main
Germany
Phone: +49 (0)69-631583-0
Fax: +49 (0)69-631583-17
E-mail: IR-PR(at)euromicron.de
http://www.euromicron.de
ISIN DE000A1EMGE2
Securities identification number A1EMGE
End of Corporate News
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09.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: euromicron AG
Zum Laurenburger Hof 76
60594 Frankfurt am Main
Germany
Phone: +49(0) 69 631583-0
Fax: +49(0) 69 631583-17
E-mail: info(at)euromicron.de
Internet: www.euromicron.de
ISIN: DE000A1K0300
WKN: A1K030
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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224827 09.08.2013
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Datum: 09.08.2013 - 07:00 Uhr
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