DGAP-News: ARQUES Industries AG: Report on the first nine months of 2010/ Earning position stabilised/EBITDA at EUR 39.2 million substantially better than in previous year/Free cash flow shows positive trend/Indebtedness reduced by around EUR 81.2 million
(firmenpresse) - ARQUES Industries AG / Key word(s): Quarter Results
18.11.2010 08:18
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Munich, November 18, 2010 - ARQUES Industries AG today submits its figures
for the third quarter of 2010. From January to September 2010 the company
achieved earnings before interest, taxes, depreciation and amortisation
(EBITDA) of EUR 39.2 million. In the comparative period last year the
EBITDA was EUR- 6.1 million.
The stabilisation of the situation at ARQUES was reflected in particular in
the positive development of the free cash flow compared to the first nine
months of 2009. In the first three quarters of 2010 the free cash flow
amounted to EUR -5.2 million (comparative period last year: EUR -75.9
million).
The total debts amount to EUR 455.3 million as at September 30, 2010 and
are thereby around EUR 81.2 million below the value as at December 31,
2009.
The sales revenues amounted to EUR 764.2 million as at September 30, 2010
and are thereby around 76% below the value for the same period last year.
This is essentially due to relinquishing the business divisions IT and
service.
'In the third quarter of 2010 we stabilised the earnings of the first half
year. And the EBITDA which has improved by around EUR 45.2 million compared
to the same period last year, shows that the restructuring measures within
the group and at Gigaset are already bearing fruit', Maik Brockmann,
chairman of the ARQUES Industries AG executive board, explained.
Capital increase placed successfully
On October 27, 2010 ARQUES successfully placed a capital increase with the
registration at the Munich Register Court. Approximately 13.2 million new
shares were issued. The demand was substantially higher that the offer. The
authorised capital of the company thereby rose to approximately EUR3 9.7
million.
Golf House Group sold
In the third quarter 2010 the ARQUES portfolio was reduced to six
subsidiaries by way of the sale of the Golf House Group to a strategic
investor, whereby Gigaset and the Anvis Group represent the most important
subsidiaries by far.
By stabilising the earning position, reducing the debt level, and gradually
reducing the portfolio, the executive board and the supervisory board plan
to align ARQUES to the new business model which will be presented to the
shareholders and put to the vote at the extraordinary general meeting on
December 20, 2010.
About ARQUES
ARQUES Industries AG is an equity investment company focusing on the
restructuring of companies in transitional situations. ARQUES develops
these companies, mainly acquired within the context of company spin-offs,
to competitive enterprises with a positive yield in order to sell these
afterwards with added value.
The shares of ARQUES Industries AG are traded in the Prime Standard of the
Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004. www.arques.de.
ARQUES Industries AG
Investor Relations
Email: info(at)arques.de
Tel: + 49 89 25 55 00 - 0
18.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: ARQUES Industries AG
Arnulf Office Park - Arnulfstraße 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke(at)arques.de
Internet: www.arques.de
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 18.11.2010 - 08:18 Uhr
Sprache: Deutsch
News-ID 32661
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