DGAP-News: euromicron AG: 2010 financial statements -
(firmenpresse) - DGAP-News: euromicron AG / Key word(s): Final Results
euromicron AG: 2010 financial statements -
21.04.2011 / 07:30
---------------------------------------------------------------------
High order income insures a successful fiscal year
- Consolidated sales increase by 13% to EUR203.6 million
- Consolidated EBITDA grows by 24% to around EUR25 million (previous year:
EUR19.9 million)
- Order books rise to EUR91.1 million (previous year: EUR69.8 million)
- Total shareholder Return is 32.9%
Frankfurt/Main, April 21, 2011 - 200 / 20 / 20 targets achieved
sustainably:
The euromicron Group has achieved its growth objectives in fiscal 2010 and
confirms its forward strategy for the past and coming fiscal years.
Following recovery in Germany's economy, euromicron was able to leverage
its long-term strategy of careful spending and ensuring that all
technologies at its German locations are available to customers as part of
the build and integrate phase and so further expand its operational
business. Under the slogan 'Expansion', the focus in the past fiscal year
was on operational efficiency, innovation and customer orientation.
'On the way to the markets of tomorrow': In line with tomorrow's market
requirements, we constantly review our portfolio of products and services.
Development expenditure was increased significantly in both the North and
South segments so as to develop individual components into complete
solutions for national and international use. 'On the basis of growth,
innovation and specialization, we are developing cutting-edge integrated
solutions with our own and third-party products. We are proud to be able to
do that on our own by means of acquisitions, through licenses or by
cooperating with partner companies. As a result, we are able to be at the
vanguard of market trends,' says Executive Board member Thomas Hoffmann.
Consolidated sales In fiscal 2010, the euromicron Group generated sales of
EUR203.6 million, an increase of 13% over the previous year's figure of
EUR179.6 million. Sales outside the German market were EUR29.6 million
(previous year: EUR25.1 million), a share of 14.5% in relation to total
sales.
Consolidated income In the period under review, consolidated EBIT rose from
EUR16.4 million in the previous year to EUR20.1 million or by around 23%.
EBITDA increased by to EUR24.7 million (previous year: EUR19.9 million).
The improvement in operating performance, coupled with strict cost and
interest management, meant that net income for the year was approximately
EUR11.5 million, compared with EUR9.8 million the year before. Despite the
issue of new shares and sale of treasury shares, undiluted earnings per
share rose from EUR2.17 to EUR2.38. 'As a result, we have clearly achieved
our 2010 goals, with the distinctive targets of 200 million in sales (=
EUR203,6 million), EBIT of 20 million (= EUR20.1 million) and a share price
of 20 (= price at the end of the year EUR21.6),' says Dr. Späth, Chairman
of the Executive Board.
Order situation at the Group New orders in fiscal 2010 were EUR205.6
million, around 10.3% up on the previous year (EUR186.5 million).
New orders were EUR91.1 million, well above the figure of EUR69.8 million
in 2009). euromicron, in particular the system houses of the euromicron
Group, entered fiscal 2011 with well-filled order books.
Balance sheet structure Total assets of the euromicron Group at December
31, 2010, rose to EUR196.0 million or by 8.0% year-on-year.
Personnel In fiscal 2010, the euromicron Group employed 1,081 people
(including 70 trainees), a reduction of around 6.0% over the previous
year's figure of 1,149. The ongoing qualification drive is creating a
professional body of permanent staff.
Stockholders' equity Stockholders' equity at December 31, 2010, was
EUR89.3 million (previous year: EUR71.4 million), a year-on-year increase
of 25%. Key contributing factors to this were not only the net income for
2010, but also the issue of new shares and sale of treasury shares, which
had previously been deducted from shareholders' equity. Despite the higher
total assets, the equity ratio at December 31, 2010, rose to 45.5%.
Finances / liquidity euromicron's banks again regarded it as a strong
and dependable partner in fiscal year 2010. Its solid business results are
reflected in an excellent rating. 'The good working relationship with our
banks gives us new opportunities to improve our financing structures, and
we are proud of the statement by our financing partners that euromicron AG
as a whole is rated as a 'risk-free exposure',' states Dr. Späth.
Share and investor relations euromicron's share began fiscal 2010 at a
price of EUR15.60, sharply up on the previous year (EUR9.98). Following a
moderate showing in the first quarter, the share performed strongly as of
the second quarter and in particular after announcement of the change in
shareholder structure, and this was also not impaired by the capital
increase in 2010. The share grew in stability over the year, was constantly
above EUR20.00 as of the fourth quarter and closed the year at EUR21.60
(previous year: EUR15.60). As a result, euromicron AG's market
capitalization was more than EUR110 million (previous year: EUR73 million).
In May 2010, euromicron conducted a capital increase to strengthen its
equity ratio and so remain economically flexible and ready to invest.
465,999 new shares at a price of EUR16.50 were placed on the market. As a
result, the number of share increased to 5,125,999. The company obtained
liquid funds of around EUR7.7 million and its capital stock rose by just
under EUR1.2 million to EUR13.1 million.
The share's attractiveness was also reflected in the increase in trading
volume in 2010 to 6.2 million at a total turnover of EUR115.8 million
(volume of shares traded in 2009: 1.9 million).
At the end of 2010, 157,234 treasury shares were sold smoothly on the stock
market at an average price of EUR21.00, resulting in gross proceeds for
euromicron AG of around EUR3.3 million, which were used to enable further
growth, bolster the capital structure, strengthen the equity ratio and
reduce borrowings. The reason for the sale at that time was the large
demand for shares in euromicron as a result of its good business
performance and the fact that the company did not need to use its own
shares as currency in the acquisitions it has made in the past years.
The capital market gave particularly strong backing to the new shareholder
structure. 30% of the traded shares, held by Wysser Pratte (5%), AvW (5%)
and Nord LB (20%), were replaced inconspicuously and beneficially to the
share price.
The large demand for euromicron shares displayed at roadshows and investor
conferences rounded out a successful year on the capital market.
In view of the good business performance, the Executive Board and
Supervisory Board will propose to the General Meeting on June 9, 2011, to
distribute EUR1.10 per share in line with the company's continuous dividend
policy, i.e. around 50% of operating profit and an increase of 10% on the
previous year.
Outlook 'We have set ourselves the objective of securing and expanding the
Group's sustainable success as part of a value-oriented growth strategy.
Fiscal 2010 was dominated by the build and integrate phase. For the years
after 2011, we aim to achieve sales of EUR300 million as a result of a
large acquisition,' said Dr. Späth. euromicron has used a number of
opportunities in the past to gear the group to a secure future and so
skillfully master the challenges in the market ahead. An extensive regional
footprint and an outstanding portfolio of products and services are the
cornerstones of our success. The Executive Board is optimistic that
euromicron AG will again achieve its ambitious targets for 2011.
Note: The difference in individual figures for the previous year 2009 is
due to correction of them in accordance with IAS 8.
euromicron AG (www.euromicron.de) is an all-round solution provider for
communications, data and security networks. Its 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 now 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
Speicherstr. 1
60327 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
ISIN DE0005660005
Securities identification number 566000
End of Corporate News
---------------------------------------------------------------------
21.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory 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
---------------------------------------------------------------------
Language: English
Company: euromicron AG
Speicherstr. 1
60327 Frankfurt
Deutschland
Phone: +49(0) 69 631583-0
Fax: +49(0) 69 631583-20
E-mail: info(at)euromicron.de
Internet: www.euromicron.de
ISIN: DE0005660005
WKN: 566000
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
121010 21.04.2011
Datum: 21.04.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 33855
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 292 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: euromicron AG: 2010 financial statements -"
steht unter der journalistisch-redaktionellen Verantwortung von
euromicron AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
