Corporate | 29 March 2012 11:02
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AURELIUS AG / Key word(s): Final Results
AURELIUS publishes its Annual Report 2011 – Numerous successful transactions were completed in 2011 – The Group's operating performance was positive on the whole – Net profit weighed down considerably by impairment losses and non-recurring effects – Dividend raised by 54% – Outlook for 2012 is positive, further transactions expected in the first six months
Munich, March 29, 2012 – The AURELIUS Group (ISIN: DE000A0JK2A8) increased its consolidated revenues by 45% to EUR 1,077.6 million (PY: EUR 743.6 million) and exhibited a generally positive performance in financial year 2011. On an annualized basis, consolidated revenues amounted to EUR 1,157.6 million (PY: EUR 1,083.8 million). AURELIUS completed additional successful transactions in 2011, including the sale of Book Club Associates (BCA), Great Britain, in March 2011, the sale of Wellman International, Ireland (the biggest 'exit' in the company's history) in November 2011 and the acquisition of a 72.91% interest in HanseYachts AG. The subsidiary Consinto was sold at the beginning of 2012. In accordance with IFRS 5, these company sales necessitated a retroactive adjustment of the prior-year results. Therefore, the subsidiaries sold in financial year 2011 and up to the date of preparation of the annual financial statements are no longer presented in the revenue and earnings figures for financial years 2010 and 2011.
Earnings
The earnings before interest, taxes, depreciation and amortization (EBITDA) presented in the income statement for 2011 amounted to EUR 64.8 million (PY: EUR 226.8 million); that figure includes restructuring expenses and non-recurring expenses in the amount of EUR 27.8 million (PY: EUR 16.1 million). The difference in the EBITDA presented for both years resulted from the fact that the EBITDA for 2010 included income from the reversal of negative goodwill arising on consolidation (so-called 'bargain-purchase' income), in the amount of EUR 157.8 million (including income from the purchase of loans below their nominal value). In financial year 2011, these effects, which resulted from the acquisition of a 72.91% interest in HanseYachts AG, only amounted to EUR 3.2 million. The net profit was weighed down in particular by impairment losses recognized in the intangible assets and property, plant and equipment of the subsidiaries SECOP (plant in Slovenia) and ISOCHEM (plant in Pont de Claix) arising in particular from the closures and capacity reductions of those companies, and by the impairment loss recognized in the carrying amount of the minority investment in Compagnie de Gestion et des Prêts. As a result of these effects, the consolidated net loss of minus EUR 63.9 million was considerably less than the consolidated net income reported for 2010 (PY: EUR 138.8 million).
Executive Board and Supervisory Board propose a 54% dividend increase
Outlook for the AURELIUS Group
Subject to the condition of continued positive economic conditions, we expect that most of our subsidiaries will generate revenue increases and further improvements in their operating results in 2012. The complete Annual Report 2011 is available as a download at www.aureliusinvest.de .
¹ Prior-year figures were adjusted for comparison purposes, in accordance with IFRS 5.
About AURELIUS The AURELIUS Group specializes in acquiring companies with development potential and providing them with operational support. With respect to the acquisition of subsidiaries, AURELIUS strives to identify, analyze, develop and exploit all available opportunities in the market. The AURELIUS Group understands itself to be a GOOD HOME for its subsidiaries on a long-term basis. Although its acquisition activities are not limited to a certain sector, AURELIUS has placed a certain emphasis on the following sectors: industrial enterprises, chemicals, business services, consumer goods/food & beverage and telecommunications, media & technology. AURELIUS has many years of investment and management experience in different industries and sectors. AURELIUS improves the performance of its subsidiaries by providing management capacities and the necessary financial resources for investing in innovative products, sales and research. AURELIUS is a globally active company with offices in Munich and London and subsidiaries in Germany, Great Britain, France, Poland, Hungary, the Netherlands, Switzerland, Norway, Slovakia and Slovenia, as well as China and Malaysia. The shares of AURELIUS AG are traded in the Open Market segment of the Frankfurt Stock Exchange under ISIN DE000A0JK2A8. Additional information can be found at www.aureliusinvest.de .
Contact
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