Corporate | 28 March 2013 08:30

AURELIUS publishes annual report for record year 2012

AURELIUS AG / Key word(s): Final Results

28.03.2013 / 08:30

AURELIUS publishes annual report for record year 2012

– Consolidated revenues rise to EUR1,378.1 million (+9%)

– Fiscal year 2012 distinguished by successful transactions

– Operating EBITDA at record level of EUR114.0 million (+28%)

– Dividend up 105 percent to EUR4.10/share

– Positive outlook for the Group

Munich, March 28, 2013 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) published its annual report for the record year 2012. AURELIUS finished the 2012 fiscal year with total consolidated revenues – including subsidiaries sold and therefore deconsolidated in fiscal year 2012 – in the amount of EUR1,378.1 million (2011: EUR1,262.6 million). On an annualized basis, consolidated revenues cleared the EUR1.5 billion mark for the first time and rose by 18 percent to EUR1,583.7 (2011: EUR1,342.6 million).

In 2012, AURELIUS successfully sold two more companies with Schabmüller GmbH in July 2012 – the largest exit in the Company's history – and the sale of Consinto GmbH in February 2012. As for acquisitions, the portfolio was expanded by the acquisition of Getronic's operations in Europe and Asia, based in Amsterdam (the Netherlands), the IT consulting activities of Thales Spain and the Spanish IT consultant Steria Iberica (both Madrid, Spain) as well as the Briar Chemicals production site in Norwich (United Kingdom) acquired from BayerCrop Science. AURELIUS' subsidiaries LD Didactic and ISOCHEM also further consolidated their position through so-called add-on acquisitions. Overall, the new acquisitions contributed EUR500 million to consolidated revenues.

Operating EBITDA reached the record level of EUR114.0 million
In fiscal year 2012, the combined group's earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 152 percent to EUR163.5 million (2011: EUR64.8 million). This includes income from the reversal of negative goodwill from the capital consolidation ('bargain purchase') in the amount of EUR107.2 million (2011: EUR3.2 million) as well as restructuring and non-recurring expenses in the amount of EUR57.7 million (2011: EUR27.8 million). Accordingly, the combined group's operating EBITDA reached a new record level of EUR114.0 million (2011: EUR89.4 million). In total, consolidated earnings increased significantly to EUR90.0 million (2011: EUR-63.9 million). Accordingly, diluted earnings per share amounted to EUR5.22 after EUR-5.50 in 2011.

Proposal to increase dividend by 105 percent to EUR4.10 per share
Liquid funds reached the historical high level of EUR244.7 million at the end of fiscal year 2012 due in particular to the successful exits of Schabmüller and Consinto (December 31, 2011: EUR154.4 million). Thus, the Company's Management Board and Supervisory Board will propose to the annual shareholders' meeting to be held on May 16, 2013, that the dividend be increased to EUR4.10/share (previous year: EUR2.00/share) from the retained earnings of AURESIUS AG. The dividend comprises a 20 percent higher base dividend of EUR1.80 (previous year: EUR1.50) and a special distribution of EUR2.30 (previous year: EUR0.50). Thus, a total of EUR39.4 million will be distributed (previous year: EUR19.2 million). The AURELIUS share currently exhibits a dividend yield of around eight percent.

AURELIUS is well-equipped for further profitable growth. The Company is off to a good start in fiscal year 2013 with the acquisition of Studienkreis Group as of January 1, 2013, and Tieto Germany GmbH as well as the associated operations in the Netherlands, Poland, and India from the Finnish Tieto Group (closing planned in the second quarter of 2013). AURELIUS expects additional transactions in the next few months. Overall, the Company is positive about the Group companies' operating development in the current year 2013 and is basing its planning on the assumption that the consistent reorientation of the Group companies will lead to further increases in net operating income given a positive environment.

Key figures (in EUR millions)

	1/1 – 12/31/2012	1/1 – 12/31/2011 ¹	Change
Total consolidated revenues	1,378.1	1,262.6	+9%
Consolidated revenues (annualized) ²	1,583.7	1,342.6	+18%
EBITDA, Group total	163.5	64.8	+152%
of which negative goodwill
from the capital consolidation ('bargain purchase')	107.2	3.2	+3,250%
of which restructuring and non-recurring expenses	57.7	27.8	+108%
EBITDA, Group operating	114.0	89.4	+28%
Consolidated net income	90.0	-63.9	+241%
Earnings per share
basic ¹'² (in EUR)	5.23	-5.50	+195%
diluted ¹'² (in EUR)	5.22	-5.50	+195%
Cash flow from operating activities	-16.5	54.9	-130%
Cash flow from investing activities	107.5	-39.5	+372%
Free cash flow	91.0	15.4	+491%
	12/31/2012	12/31/2011	Change
Assets	1,173.3	943.6	+24%
of which cash and cash equivalents	244.7	154.4	+58%
Liabilities	818.6	661.1	+24%
of which financial liabilities	169.9	185.7	-9%
Equity ³	354.7	282.5	+26%
Equity as a percentage of assets ³ (in %)	30.2	29.9	+1%
Number of employees at the reporting date	10,226	6,631	+54%

¹ The previous year's figures were adjusted for the purpose of comparison based on the requirements of IFRS 5
² From continuing operations
³ Incl. non-controlling interests

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, Belgium, Luxembourg, Slovakia and Slovenia, as well as the United States, China, Malaysia, India, Thailand and South Korea. The shares of AURELIUS AG are traded in the m:access of the Munich Stock Exchange under ISIN DE000A0JK2A8. Additional information can be found at www.aureliusinvest.de .

Contact
Investor Relations & Corporate Communications
Phone +49 (89) 544799 – 0
Fax +49 (89) 544799 – 55
investor@aureliusinvest.de

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