DGAP-News: AURELIUS with revenue growth and positive developments in its portfolio of subsidiaries in the first nine months of 2013
(firmenpresse) - DGAP-News: AURELIUS AG / Key word(s): Quarter Results
AURELIUS with revenue growth and positive developments in its
portfolio of subsidiaries in the first nine months of 2013
14.11.2013 / 07:00
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AURELIUS with revenue growth and positive developments in its portfolio of
subsidiaries in the first nine months of 2013
- Consolidated revenues up 24 percent
- Operational EBITDA up 4 percent to EUR 63.8 million despite disposals
of profitable subsidiaries last year
- Cash and cash equivalents at record high of EUR 268.1 million
- Brisk transaction activities expected in the coming months
Munich, November 14, 2013 - The Munich-based AURELIUS Group (ISIN
DE000A0JK2A8) increased its consolidated revenues from continuing
operations by 24 percent in the first nine months of 2013 (January 1 -
September 30, 2013) to EUR 1,125.8 million (Q1-Q3 2012: EUR 905.8 million).
This increase can essentially be attributed to the Group companies that
have been acquired over the last twelve months. Annualized consolidated
revenues amounted to EUR 1,581.1 million (Q1-Q3 2013: EUR 1,424.2 million),
representing a rise of 11 percent.
The restructuring of most Group companies is continuing to run
successfully, meaning that a significant number of the subsidiaries have
contributed to the positive operational EBIDTA recorded by the Group. The
Group as a whole recorded operating earnings before interest, taxes and
depreciation, amortization (EBITDA) of EUR 63.8 million in the first nine
months of 2013, up four percent (Q1-Q3 2012: EUR 61.2 million), even though
profitable subsidiaries were sold during the prior year and a number of new
acquisitions have served to depress earnings as planned in 2013. At EUR
20.9 million, the income from the reversal of negative goodwill (bargain
purchase income) from the companies acquired during the first nine months
of the current year was much lower than in the equivalent period last year
(Q1-Q3 2012: EUR 89.5 million). Restructuring expenses were also down, at
EUR 19.0 million (Q1-Q3 2012: EUR 40.3 million). The gains on disposal
amounted to EUR 1.4 million (Q1-Q3 2012: EUR 54.7 million), meaning that
the EBITDA for the Group as a whole totaled EUR 67.1 million (Q1-Q3 2012:
EUR 165.1 million).
The cash inflow from operating activities amounted to EUR 47.0 million
after an outflow of EUR 1.2 million in the first nine months of 2012.
Cash and cash equivalents reached a record high of EUR 268.1 million at
September 30, 2013 (December 31, 2012: EUR 244.7 million). The consolidated
equity ratio of 30 percent is thus unchanged compared with year-end 2012.
Acquisition market for companies in situations of transition or distress
remains strong
With the purchase of the NEC activities in the UK, Spain, Portugal, and
Switzerland and the acquisition of HCM Gilde, a consultancy specializing in
the field of personnel services, AURELIUS completed two further
strategically important add-on acquisitions for its Getronics and fidelis
HR subsidiaries in the third quarter. Furthermore, AURELIUS increased its
holding in Getronics by a further eight percent by way of a capital
increase. This means that, including add-on purchases, seven acquisitions
have already been successfully carried out in 2013 to date.
AURELIUS is currently in a number of talks regarding further company
acquisitions and disposals. 'The fourth quarter traditionally sees an
especially large number of transactions. Numerous decisions regarding
purchases and disposals are taken at the end of the year. We're again
looking to profit from this trend this year,' says Dr. Dirk Markus, CEO of
AURELIUS AG.
Key figures (EUR millions)
01/01 -¹The prior-year figures have been adjusted for comparison purposes, in
09/30/ 01/01 - 09/
2013 30/2012 Change
Consolidated revenues¹1,125.8 905.8 + 24%
Consolidated revenues (annualized)¹1,581.1 1,424.2 + 11%
Total consolidated EBITDA 67.1 165.1 - 59%
thereof gains on the sale of
deconsolidated subsidiaries 1.4 54.7 - 97%
thereof income from the reversal of
negative goodwill
(bargain purchase income) 20.9 89.5 - 77%
thereof restructuring and non-recurring
expenses 19.0 40.3 - 53%
Total consolidated operational EBITDA 63.8 61.2 + 4%
Cash flow from operating activities¹47.0 -1.2 - / -
09/30/
2013 12/31/2012 Change
Cash and cash equivalents 268.1 244.7 + 10%
Equity ratio (%)²30.3 30.2 - / -
accordance with the provisions of IFRS²Incl. minorities
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 18 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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