Ad-hoc | 22 March 2012 22:33
Drillisch AG / Key word(s): Final Results/Dividend 22.03.2012 22:33 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Drillisch AG reports Final 2011 Report (IFRS) Maintal, 22 March 2012 During the past fiscal year, Drillisch AG was able to continue the unbroken success of past years and to exceed the targets. Overall, the Company's development was better than that of the general market. The transformation in our operations from the former position as a classic service provider (MSP) to that of a mobile virtual network operator (MVNO) in the Telefónica O2 and Vodafone networks which was launched in the fourth quarter of 2010 is the implementation of an important strategic decision. Initial positive results became evident in 2011. We have now laid a solid foundation so that we will be able to continue profitable growth with our innovative products and services in the future as well. Outlook 2012 We expect an increase in revenue in the sector of 'service revenues' and an adjusted EBITDA of about EUR58 million for 2012. As far as we can see at this time, these positive developments in earnings in business operations will continue in 2013 as well. Dividend forecast In view of this positive development, we are able to offer to our shareholders a reasonable and attractive return on their capital. That is why we will, with the approval of the Advisory Board, propose the third dividend increase in succession to the upcoming Annual General Meeting, this time to EUR0.70 per share for the past fiscal year 2011; this proposal follows the dividends of EUR0.50 and EUR0.30 per share in the previous years. Financial Liabilities (per 31/12/2011) In the course of acquiring additional stock in freenet, so-called non-recourse agreements were concluded, i.e. loans excluding the possibility of recourse to the other assets of Drillisch AG, as shown below. As per 31 December 2011, the amount of the utilisation of loans with the possibility of recourse for Drillisch AG amounted to EUR59.6 million. The loan agreement provides a maximum possible credit line of EUR100.0 million and its term runs until 15 October 2014. Moreover, MSP Holding GmbH, a wholly-owned subsidiary of Drillisch AG, holds loans related to freenet stock in the amount of EUR91.6 million; with the exception of the freenet stock to which the loan is related, there is no recourse possible in this case, and it also contains a hedge against price fluctuations of the freenet stock. The degree of net indebtedness (Net Debt / EBITDA) of 0.75 is based on the loan with possible recourse utilised by Drillisch AG per 31 December 2011 and is significantly better than usual in the peer group as a whole. This is an expression of the excellent financial flexibility of the Drillisch Group. Drillisch Group Figures Based on IFRSIn EURm 2011 2010 Turnover 349.1 362.5 Service Revenues 303.1 277.5 Other Revenues 46.0 85.0 EBITDA 51.4 46.1 EBITDA adjusted 52.6 49.3 EBIT 48.1 40.4 EBT 52.3 42.6 Consolidated results 41.0 31.0 EPS 0.77 0.58 EBITDA margin in % of turnover 14.7 12.7 EBITDA margin (adjusted) in % of turnover 15.1 13.6 EBIT margin in % of turnover 13.8 11.1 EBT margin in % of turnover 15.0 11.8 Consolidated profit margin in % of turnover 11.8 8.6 Equity ratio (equity in % of balance sheet total) 41.9 51.5 Return of Equity (ROE) (ratio Group result to equity) 29.2 20.9 Cash-flow from current business operations in EURm 20.0 40.8 Depreciation excluding goodwill in EURm 3.4 5.7 Investments (in tangible and intangible fixed assets) 2.8 4.0 adjusted in EURm Staff as annual average (incl. Management Board) 329 379 Subscribers (in thousands) as per 31/12 2,550 2,431 Therof Debit 1,038 1,240 Therof Credit 1,512 1,191The Annual Report will be published on 23 March on the Internet; log on to: http://www.drillisch.de/index.php?page=reports&group=investor-e:reports Maintal, 22 March 2012 Drillisch AG The Management Board Contact: Oliver Keil Head of Investor Relations Mail: ir@drillisch.de 22.03.2012 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: Drillisch AG Wilhelm-Röntgen-Straße 1-5 63477 Maintal Germany Phone: +49 (0)6181 412 200 Fax: +49 (0)6181 412 183 E-mail: ir@drillisch.de Internet: www.drillisch.de ISIN: DE0005545503 WKN: 554550 Indices: TecDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------