DGAP-News: mutares announces consolidated earnings for the fiscal year 2010/11
(firmenpresse) - DGAP-News: Mutares AG / Key word(s): Final Results
mutares announces consolidated earnings for the fiscal year 2010/11
10.10.2011 / 16:41
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mutares announces consolidated earnings for the fiscal year 2010/11
Munich, October 10, 2011
Based on successful turn-around activities and on the expansion of its
portfolio the mutares-group has achieved a significant growth in revenues
and earnings in the fiscal year 2010/11. During the period from April 1,
2010, to March 31, 2011, the turnover has doubled to EUR 127.6 million
(previous year EUR 60.7 million) with a substantial increase of 95% in the
operating profit (EBITDA) to EUR 15.8 million (previous year EUR 8.1
million). At the end of the fiscal year 2010/2011 on March 31, 2011,
mutares held a total of five portfolio companies in Europe with around
1,500 employees.
mutares acquires companies in special situations and develops them with
operational and financial support. Due to strong operational improvements
in the portfolio companies and due to the economic growth in Europe since
early 2010 last year's results have significantly improved. Group sales
and net income have been increased for the third consecutive year.
Despite a portfolio streamlining group sales went up by 110% from EUR 66.9
million to EUR 127.6 million. Primarily the first time consolidation of
the HIB-group and the newly acquired Alsace Meuble contributed to this
strong increase in sales.
The annual income went up to EUR 8.3 million, which is EUR 4.3 million or
108% more than in the previous year.
'The increase in operating cash flow to EUR 3.2 million (previous year: EUR
-1.4 million) shows our strong operational expertise,' said Axel Geuer,
co-founder of mutares. Robin Laik added, 'With total assets of over EUR
100 million and an equity ratio of 32% the group is well positioned for
further growth.'
mutares AG, Munich (www.mutares.de), acquires midsized companies, that are
being sold in the course of a repositioning process at their owners and
that show a clear operational improvement potential. Getting engaged with
its own teams, mutares actively supports its portfolio companies to achieve
a significant increase in value. The focus of the operational work is to
ensure sustainable, long-term growth.
The stocks of mutares AG are being listed at the Open Market segment of the
Frankfurt stock exchange (symbol: MUX, ISIN: DE000A0SMSH2).
For further information please contact:
mutares AG
Susanne Staudt
Investor Relations&Corporate Communications
Tel: +49 (0)89 9292776-0
Fax: +49 (0)89 9292776-22
info(at)mutares.de
End of Corporate News
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141844 10.10.2011
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Datum: 10.10.2011 - 16:41 Uhr
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News-ID 74296
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