DGAP-News: euromicron records strong orders, while operating income remains good - The next stage of the 'Agenda 500' integration program has been launched
(firmenpresse) - DGAP-News: euromicron AG / Key word(s): Quarter Results
euromicron records strong orders, while operating income remains good
- The next stage of the 'Agenda 500' integration program has been
launched
08.11.2013 / 07:00
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- Consolidated sales are EUR233.3 million, above the strong figure of the
previous year
- Operating EBIT remains good at EUR16.6 million
- Order books are EUR141.1 million, around 12% up year on year
- New orders increase by 11% to EUR249.2 million
- Net debt relative to growth is at the level of the previous year
- Equity ratio remains strong at 41%
Frankfurt/Main, November 8, 2013 - euromicron AG posted strong orders and
maintained its operating income at a good level in the first nine months of
2013 in a volatile investment market that is highly price-sensitive.
Against this backdrop, the company further consolidated and intensified its
planned measures under the 'Agenda 500' integration program in order to put
the company on a new foundation and give it the necessary structures,
qualifications and processes.
Consolidated sales Given the fact that investment is still restrained,
especially on the part of major wide area network operators, the euromicron
Group generated respectable consolidated sales of EUR233.3 million in the
first nine months of 2013, 3% more than the previous year's strong figure
of EUR226.5 million.
Consolidated income On the back of a still strong operating EBIT of EUR16.6
million (previous year: EUR16.5 million) and to prepare itself for the next
stage of growth, the company has expanded its upper-level controlling
units, which help coordinate the individual activities of the group
companies, optimize processes and identify synergy and cost-cutting
potentials. As a consequence, the EBITDA margin at September 30, 2013, was
7.7%, slightly below the target corridor of 8% to 11% planned for the year
as a whole. EBITDA was EUR18.0 million (previous year: EUR18.2 million).
Earnings before interest and taxes (EBIT) were around EUR11.7 million
(previous year: EUR12.1 million). The net profit for the period for
euromicron AG shareholders at September 30, 2013, was EUR5.9 million
following EUR6.3 million in the previous year. Undiluted earnings per share
were EUR0.89, almost equaling the good level of the previous year
(EUR0.94).
Order situation at the Group New orders were at the very good level of
EUR249.2 million, some 11% up on the previous year (EUR224.9 million).
Order books were around EUR141.1 million, about 12% above the previous
year's EUR125.9 million. We are not currently aware of any risks from
significant project cancellations. Postponements for call-off orders have
intensified, in particular in the capital spending arena, which is
changeable, particularly price-sensitive and increasingly difficult to plan
for the company.
Balance sheet structure The euromicron Group's total assets at September
30, 2013, were EUR299.4 million, up by around EUR15.5 million from December
31, 2012 (EUR283.9 million).
Personnel 1,769 persons were employed by the euromicron Group as of
September 30 of fiscal 2013. Personnel costs totaled EUR70.9 million
(previous year: EUR65.6 million). In the first nine months of 2013, the
group-wide qualification program was successfully continued, investments in
building and expanding the workforce were strengthened and work was carried
out to adjust the company's personnel capacities.
Equity Equity at September 30, 2013, was EUR122.9 million, EUR3.8 million
above the level at December 31, 2012. The result was a strong equity ratio
of 41%.
euromicron's share euromicron's share performed positively in the third
quarter of 2013. After a quiet start to July at a peak of EUR14.85, the
share rose at one point to EUR17.74 and settled at November 1, 2013, at a
level of EUR17.53. The share was able to cope well with its re-inclusion in
the Prime Standard index and the associated regrouping by large index
funds, with the result that analysts rate it a clear 'buy' with an upside
target of EUR26.50.
Outlook 'We don't see any significant changes in our economic environment
in the final quarter of 2013. Investments in expansion of vectoring and LTE
have started, and in particular euromicron's production companies can feel
that in the shape of our products being called off from the existing master
agreements. However, they have not overall achieved the anticipated
dynamism,' explains Dr. Willibald Späth, Chairman of the Executive Board.
On the back of restrained and volatile capital spending, and despite a
basic need to invest, in particular among key accounts from the wide area
network arena, the Executive Board envisages that sales for fiscal 2013
will 'tend to be at the lower end of the forecast range of EUR350 to EUR365
million' despite a very good order situation. On the earnings side, and
given the information known at present, the goal is to post an EBITDA
margin of 8% to 11% for the year as whole, even though customers'
investment behavior is increasingly difficult to plan and so achieving high
order books is a challenge.
To safeguard the company's solid quality of earnings in future, in the next
stage of the 'Agenda 500' integration program the group aims to establish
and provide structures, processes and qualifications to address the
changing requirements of the market and the company's growth strategy.
'Thanks to our steady earnings strength and stable liquidity base, we have
the necessary financial resources to implement the planned integration
measures and so achieve growth to an annualized sales volume of EUR500
million in 2015, coupled with sustainable profitability. No significant
changes to our corporate objectives and strategies are planned,' concluded
Dr. Späth.
You can find the Q3/2013 Interim Report as of November 8, 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
Securities identification number A1K030
ISIN DE000A1K0300
End of Corporate News
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08.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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238687 08.11.2013
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