DGAP-News: AURELIUS with a considerable increase in revenues and net operating income in the first half of the year
(firmenpresse) - DGAP-News: AURELIUS AG / Key word(s): Half Year Results
AURELIUS with a considerable increase in revenues and net operating
income in the first half of the year
14.08.2013 / 09:00
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AURELIUS with a considerable increase in revenues and net operating income
in the first half of the year
- Consolidated revenues up 33 percent, operating EBITDA up 36 percent
- Already five acquisitions and one exit in the first half of 2013
- Considerable increase in AURELIUS' liquidity
- Good market for taking over companies in special situations
Munich, August 14, 2013 - The Munich-based AURELIUS Group (ISIN
DE000A0JK2A8) increased its consolidated revenues in the first half of 2013
(1/1 - 6/30/2013) by 33 percent to EUR758.7 million (H1 2012: EUR571.3
million). This increase can be attributed to the Group entities acquired in
the last twelve months. Consolidated revenues were up 25 percent to
EUR1,657.4 million (H1 2012: EUR1,334.8 million) on an annualized basis.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
rose by 10 percent to EUR47.4 million (H1 2012: EUR43.0 million). This
includes a total of EUR13.6 million in income from the reversal of bargain
purchase gains from the capital consolidation from the companies acquired
in the first half of 2013 (H1 2012: EUR24.6 million) as well as
restructuring and non-recurring expenses in the amount of EUR14.7 million
(H1 2012: EUR17.3 million). Operating EBITDA rose correspondingly by 36
percent to EUR48.5 million (H1 2012: EUR35.7 million).
Operating cash flow increased considerably to EUR29.0 million (H1 2012:
EUR-1.0 million), while cash and cash equivalents amounted to EUR220.0
million at the end of the first half of 2013 (December 31, 2012: EUR244.7
million). Equity amounted to 26 percent of assets (December 31, 2012: 30%),
which shows the AURELIUS Group's solid positioning.
First half-year characterized by numerous successful transactions
AURELIUS had already acquired the Studienkreis Group, a professional
provider of private lessons from elementary school to secondary school
graduation, as of January 1, 2013. TDS HR Services&Solutions GmbH, a
leading provider of personnel-related services for outsourcers, was
acquired on May 10, 2013, and meanwhile renamed fidelis HR GmbH. The IT
service provider brightONE (formerly: Tieto operations in Germany and the
Netherlands) belongs to the AURELIUS Group as a subsidiary since June 30,
2013. With the acquisition of the ELWE(R) Technik product portfolio, we
have already initiated the second add-on acquisition for our subsidiary LD
Didactic and expanded our engagement in the educational area. In April, the
AURELIUS subsidiary SECOP announced the acquisition of the Austrian
compressor manufacturer ACC. The transaction is still subject to the
approval of the responsible antitrust authorities and, with EUR150 million
in revenues, is the largest add-on acquisition to date in the AURELIUS
Group.
In addition, AURELIUS announced its first exit in the current fiscal year
with the sale of Schleicher Electronic in June.
Liquidity and attractiveness of the AURELIUS share considerably improved
The AURELIUS AG's Executive Board and Supervisory Board recommended the
issue of bonus shares to the annual shareholders' meeting on May 16, 2013,
in order to increase the AURELIUS share's liquidity and attractiveness.
This resolution was - as with all other resolutions - accepted by a large
majority and implemented at the end of May by issuing two bonus shares. The
share price was also adjusted accordingly with this stock split in the
ratio of 1:2, whereby the number of shares issued by AURELIUS tripled from
the previous 9.6 million shares to 28.8 million shares.
Outlook for the full 2013 year
'The figures presented show that we are on a very good path in the
reorientation of our Group entities. The second half of the year is off to
an encouraging start and we will also continue down our profitable growth
course for the year as a whole,' said AURELIUS' Chairman of the Executive
Board, Dr. Dirk. Markus. 'The market for corporate takeovers in our niche -
companies experiencing radical change and exceptional situations - is
highly dynamic at the moment. We currently see very good opportunities here
to acquire even larger companies.'
In order to take advantage of these opportunities, AURELIUS carried out a
capital increase in July 2013 while disapplying shareholders' pre-emptive
rights. The subscribed capital was increased as a result by EUR2,880,000.00
or 10 percent to EUR31,680,000. At a placement price of EUR20.00 per share,
gross issuing proceeds of EUR57.6 million flowed to the Company.
Key figures (in EUR millions)
1/1 - 6/30/ 1/1 - 6/30/¹The previous year's figures were adjusted for the purpose of comparison
2013 2012¹Change
Consolidated revenues¹'²758.7 571.3 + 33%
Consolidated revenues (annualized)²1,657.4 1,334.8 + 25%
EBITDA Group¹'²47.4 43.0 + 10%
of which bargain purchase gains
from the capital consolidation 13.6 24.6 - 45%
of which restructuring and non-
recurring expenses 14.7 17.3 - 15%
EBITDA, Group operating 48.5 35.7 + 36%
Net consolidated income 0.2 16.0 - 99%
Earnings per share
basic¹'²(in EUR) 0.14 0.45 - 69%
diluted¹'²(in EUR) 0.14 0.45 - 69%
Cash flow from operating activities¹29.0 -1.0 + 3,000%
Cash flow from investing activities¹-3.2 20.9 - 115%
Free cash flow¹25.9 19.8 + 31%
6/30/2013 12/31/2012 Change
Assets 1,181.9 1,173.3 + 1%
of which cash and cash equivalents 220.0 244.7 - 10%
Liabilities 869.8 818.6 + 6%
of which financial liabilities 175.5 169.9 + 3%
Equity³312.1 354.7 - 12%
Equity as a percentage of assets³(in
%) 26.4 30.2 - 13%
Number of employees at the reporting
date 11,645 10,226 + 14%
based on the requirements of IFRS 5²From continuing operations³Incl. non-controlling interests
ABOUT AURELIUS
AURELIUS has been successfully operating in the international market for
company acquisitions for many years. The focus is on companies and
corporate spin-offs in markets with plenty of potential for development.
Once under the AURELIUS umbrella, the acquisitions are given a long-term
strategic orientation and their potential developed. Building on active
operational support, the subsidiaries benefit from the management
experience and financial strength of the parent company. This is what makes
AURELIUS a 'good home' for companies and their employees.
At present, the AURELIUS Group encompasses 17 subsidiaries around the globe
with facilities in Europe, Asia and the United States. Among others, these
include traditional names like Blaupunkt and Berentzen together with
numerous industrial enterprises. Companies are acquired in accordance with
strict investment criteria, although there is no specific industry focus.
Shares of AURELIUS AG are listed in the m:access segment of the Munich
Stock Exchange and are traded on all German stock exchanges under ISIN
DE000A0JK2A8.
To find out more, visit www.aureliusinvest.de.
CONTACT
Investor Relations&Corporate Communications
Phone +49 (89) 544799 - 0
Fax +49 (89) 544799 - 55
investor(at)aureliusinvest.de
End of Corporate News
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