DGAP-News: ARAGON AG: Aragon AG releases fiscal year figures 2010 - Marked increase in revenues, assets under administration, and the number of brokers and clients
(firmenpresse) - DGAP-News: ARAGON AG / Key word(s): Miscellaneous
ARAGON AG: Aragon AG releases fiscal year figures 2010 - Marked
increase in revenues, assets under administration, and the number of
brokers and clients
31.03.2011 / 07:00
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- Aragon AG releases fiscal year figures 2010
- Marked increase in revenues, assets under administration, and the
number of brokers and clients
- Pleasing EBITDA and EBIT trend despite acquisition-related one-off
expenses
- Forecast for 2011 and goals for 2014 confirmed
Aragon AG, one of the leading financial services company in Germany and
Austria will today publish the earnings figures (IFRS) for the fourth
quarter of 2010 as well as the entire financial year of 2010.
Strong growth in 2010
In the fiscal year 2010 as a whole the revenues increased by around 57 per
cent to EUR 109.2 million (2009: EUR 69.4 million). The earnings before
interest, tax, depreciation and amortisation (EBITDA) significantly
improved in the fiscal year of 2010 to EUR 4.2 million (2009: EUR 0.2
million). The earnings before interest and tax (EBIT) increased in the
financial year of 2010 to EUR 2.4 million (2009: Minus EUR 1.4 million).
Adjusted for one-off effects, resulting from the acquisition of
FiNUM.FINANZHAUS GmbH and Scopia AG, Aragon AG achieved earnings before
interest, tax, depreciation and amortisation (EBITDA) of EUR 5.9 million
and an EBIT of EUR 4.1 million in the year of 2010 as a whole. The earnings
before tax (EBT) of the continuing operations amount to EUR 1.5 million
(2009: minus EUR 1.8 million). The net profit from continuing operations
amounts to EUR 1.1 million in 2010 (2009: minus EUR 2.0 million).
The other key operating figures of Aragon AG also experienced a positive
development in 2010: Product sales volume soared to the historic record
level of roughly EUR 1.9bn. In this context it is worth noting that in 2010
all asset classes recorded double-digit growth figures as compared to the
previous year. Another development worth emphasizing is the sale of
insurance products, which in 2010 exceeded EUR 1bn for the first time. The
assets under administration held by Aragon AG rose to roughly EUR 4.0bn at
the end of 2010, almost twice the value of the all-time low of EUR 2.1bn
reported at the end of March 2009. The number of brokers working with
Aragon AG rose from 18,000 at the end of 2009 to over 20,000 at the end of
2010. Going hand in hand with this the number of clients advised by Aragon
subsidiaries has increased to almost 920,000 (2009: approx 800,000).
In balance sheet terms Aragon AG is also in positive shape: The liquid
assets increased in 2010 compared to 2009 by 6 per cent from EUR 9.4
million to EUR 10.0 million. The equity capital of Aragon AG amounted to
EUR 52,8 million as at 31.12.2010 (2009: EUR 52.9 million) which equates to
a equity ratio of 52.3 per cent (2009: 53.6 per cent).
Dr. Sebastian Grabmaier, CEO of Aragon AG explains: 'In 2010 we were able
to reap the benefits of our successful crisis management system. In
addition we have very successfully managed to exploit extensive areas of
sales potential. We have thus conclusively overcome the financial crisis
and are looking forward to the very successful years which now lay ahead of
us. This is because Aragon AG has never been in such great shape as it is
now.'
The continuing operations of Aragon AG developed as follows:
The Broker Pools division with a revenues growing by 30 percent to EUR 72.2
million in 2010 (2009: EUR 55.8 million) is still the business unit
displaying the strongest revenues. Earnings before interest, tax and
depreciation (EBITDA) increased as compared to the previous year to EUR 2.5
million (2009: minus EUR 0.3 million) after a negative result in 2009. In
the same period, earnings before interest and tax (EBIT) rose to EUR 1.0
million (2009: minus EUR 1.7 million). The Financial Consulting division is
Aragon AG's strongest growth sector, more than doubling its figures in 2010
with revenues of EUR 37.9 million (2009: EUR 12.9 million) and already
accounting for over 34 percent of total revenues of Aragon AG. Earnings
before interest, tax, and depreciation (EBITDA) for the Financial
Consulting segment was EUR 3.2 million in 2010 (2009: EUR 1.2 million).
Earnings before interest and tax (EBIT) were reported at EUR 2.9 million
for 2010 (2009: EUR 1.1 million). The Holding incl. consolidation division
recorded revenues for 2010 of EUR 0.1 million (2009: EUR 0.7 million).
Earnings before interest, tax, and depreciation (EBITDA) were reported at
minus EUR 1.5 million (2009: minus EUR 0.8 million). This development is
attributable primarily to the transaction costs for example for the
purchase of FiNUM.FINANZHAUS GmbH and Scopia AG, the negative contribution
to operating income by Fundmatrix AG and to missing revenues as compared to
the previous year due to the sale of shareholdings.
Optimistic outlook for 2011 and realistic growth targets for 2014
Due to the current events in Japan and the continuing political upheaval in
North Africa, Aragon AG assumes the capital markets will remain volatile
and that the market environment for financial services will be challenging.
Aragon AG nevertheless confirms its optimistic outlook for 2011. Wulf U.
Schütz, board member of Aragon AG explains: 'Our marked increase in growth
and profits in the previous financial year has proved the sustainability of
our business model and our strategy. In 2011 we want to continue on our
path of growth and simultaneously to resolutely increase our profitability.
The acquisitions of the previous year will make a contribution towards this
and their effects will be felt for the first time this year. We are
striving to achieve sales levels of between EUR 130 million and EUR 150
million whereby the financial consulting sector, whose share of the overall
turnover would increase to more than 40 per cent, should increase our
profitability in a sustained manner. In addition we are striving to make
additional acquisitions in the near future enabling growth for Aragon AG
that will exceed the planned turnover levels. Our sustained positive
development in 2014 will underpin our goals in 2014 of achieving turnover
of more than EUR 200 million and a two digit EBIT margin.'
You can retrieve the annual report of Aragon AG with immediate effect at
the company's website at www.aragon.ag.
About Aragon AG
Aragon AG is a broadly diversified financial services group comprising the
business units Broker Pools and Financial Consulting as well as the
business unit Holding, which apart from its share in the Institutional
Sales unit Fundmatrix AG and the Aragon IT Service GmbH also comprises a
minority shares in the biw Bank für Investments und Wertpapiere AG. In the
operative business units, Aragon AG is actively engaged in the market with
several independent subsidiaries. The aim is to integrate a variety of
sales models under one roof without any of the sales teams losing their own
identity. The effect is a broad diversification across various asset
classes and sales types, with a consequently high stability in corporate
earnings. For further information on the company and its subsidiaries,
please visit www.aragon.ag.
Contact:
Aragon Aktiengesellschaft
Ralf Funke
Investor Relations
Tel.: +49(0)611 890 575-0
Fax: +49(0)611 890 575-99
E-Mail: ir(at)aragon.ag
End of Corporate News
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31.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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117728 31.03.2011
Datum: 31.03.2011 - 07:00 Uhr
Sprache: Deutsch
News-ID 33653
Anzahl Zeichen: 0
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Kategorie:
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