Corporate | 7 March 2012 08:00
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AURELIUS AG / Key word(s): Preliminary Results
AURELIUS publishes provisional numbers for 2011 – Consolidated revenues up 45% to EUR 1,078 million – Subsidiaries exhibit positive overall operating performance – Operating EBITDA rises to EUR 90 million, net result is negative, due to non-recurring effects – Dividend raised to EUR 2,00 – Good start to the current year 2012 Munich, March 7, 2012 – According to provisional numbers that have not yet been finally audited, the AURELIUS Group (ISIN: DE000A0JK2A8) generated consolidated revenues of EUR 1,078 million (PY: EUR 744 million) in financial year 2011. Because subsidiaries were sold during the course of the year, the prior-year earnings were adjusted retroactively, in accordance with IFRS 5. Thus, the subsidiaries that were sold during financial year 2011 and in the time until the annual report was published are no longer presented in the revenues and earnings for financial years 2010 and 2011. These subsidiaries are Book Club Associates Ltd. (BCA), Great Britain (sold in March 2011), Wellman International Ltd., Ireland, the biggest 'exit' in the company's history (November 2011), and Consinto GmbH (sold in February 2012). Operating performance of subsidiaries
Income from the reversal of negative goodwill arising on consolidation ('bargain purchase') amounted to EUR 3 million in financial year 2011 (PY: EUR 158 million, including income from acquisition of loans below nominal value). This income resulted from the acquisition of a 72.91% interest in HanseYachts AG in November 2011. Restructuring effects and non-recurring effects
Components of earnings before interest, taxes, depreciation and amortization (EBITDA)
The complete consolidated financial statements for 2012 are currently being prepared and audited and will be published on March 27, 2012. The partial closure and capacity reductions at the subsidiaries SECOP (plant in Slovenia) and ISOCHEM (plant in Pont de Claix) will make it necessary to recognize impairment losses in the intangible assets and property, plant and equipment of these subsidiaries. These impairment losses, together with the impairment loss recognized in the minority investment in French company CDGP, will have a significant adverse effect on the Group's net profit, as a result of which the net profit/loss will be substantially negative.
Based on the provisional numbers, the Management Board intends to propose to the Supervisory Board to recommend that the company will pay a dividend of EUR 2.00 per share at this year's annual shareholders' meeting to be held on May 25, 2012. This dividend will be composed of a basic dividend, which has been raised from EUR 1.30 in the prior year to EUR 1.50 for 2012, and a special dividend of EUR 0.50, which has been made possible by the successful company sales of the last few months. Outlook for the AURELIUS Group Having acquired the operations of the IT service provider Getronics in Europe and the Asia/Pacific region, as well as the Spanish IT consulting firm Thales CIS, and having sold the former subsidiary Consinto, we have gotten off to a successful start to the current financial year 2012. We expect further company sales in the first half of this year. We are confident about the outlook for our subsidiaries in the current year. Assuming that economic conditions remain positive, we anticipate that most of our subsidiaries will increase their revenues and improve their operating results further in 2012. End of Corporate News 07.03.2012 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 |
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