Corporate | 28 August 2007 10:52
ARAGON AG / Quarter Results/Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- With an all around satisfactory first half of 2007 Aragon seamlessly continues its successful development. After the first six months of 2007 revenues came in at €49.9 million representing a doubling (+101%) compared to the first half of previous year (€24.8 million). Additionally, earnings improved significantly. Earnings before tax, interest and depreciation (EBITDA) increased by 150% from €1.0 million up to €2.5 million; EBITDA margin increased accordingly from 4% to 5%. Even more impressive the development of the earnings before tax and interest – a boost of 217% compared to previous year: An increase by €1.4 million from €0.6 million to €2.0 million, equal to an improvement in EBITDA margin from 2.5% to 4.0%. This positive development results mainly from the traditionally strong growth in the Retail Sales Segment – particularly from the subsidiary Jung, DMS & Cie. – as well as the all-expectations-exceeding Segment, Banking & Banking Services (biw Bank für Investments und Wertpapiere AG). Banking & Banking Services, with revenues in the amount of €15.2 million, already contributed more than 30% to total Group revenues, and the segment’s earnings, €0.9 million, represented an even higher share, 35%, of the Group’s EBITDA. Furthermore, growth is steadily strong: Only in the second quarter of 2007 revenues jumped 82% compared to the first quarter. In the reporting period the segment Retail Sales showed growth in revenues of 43% year-on-year resulting in total revenues of €35.2 million (comparison period: €24.5 million). The increase in earnings even outperformed revenue growth due to the distinct scale effects of the business model – compared to previous year the segment’s EBITDA improved by 67% to €2.1 million. The achieved half-yearly results are a good base for the earning trends of Aragon in the second half of 2007. The financial service business is a cyclic business with its peak in the fourth quarter of every year. Accordingly, the second quarter of 2006 contributed with more than 75% to total EBITDA 2006, and again Aragon’s management is expecting a – in comparison with the first half year – considerably improved results for the second half of 2007. Assumed continuing positive macroeconomic trends and stable capital markets, the management of Aragon is of the opinion that for the second half year 2007 as well as for the following years the current speed of growth is sustainable. In particular, the growth drivers will be the mega trend towards private pension care in Germany as well as the increase in regulatory requirements (MIFID etc.) coming along with intensifying market consolidation to the advantage of Aragon. Aragon will continue to pursue its successful buy-and-build strategy and thus actively push market consolidation. The Interim Management Report 2007 is now available at www.aragon-ag.de. Contact: Achim Pfeffer Head of Investor Relations Aragon Aktiengesellschaft Kormoranweg 1, 62501 Wiesbaden Fon: +49 (0) 611 890 575-574 Fax: +49 (0) 611 890 575-99 E-Mail: pfeffer@aragon-ag.de 28.08.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------