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1&1 AG — Earnings Release 2010
Mar 24, 2011
1_rns_2011-03-24_24c3147f-3a06-4cd0-95c8-907fd2523cfb.html
Earnings Release
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Corporate | 24 March 2011 22:00
Drillisch AG reports Final 2010 Report (IFRS) and gives dividend forecast
Drillisch AG / Key word(s): Final Results/Dividend
24.03.2011 / 22:00
Drillisch AG reports Final 2010 Report (IFRS)
Maintal, 24 March 2011 – In 2010, the wireless services provider Drillisch (ISN DE 0005545503) has, the unbroken success of past years successfully continued and exceeded the given targets.
With 2.431 million subscribers (2009: 2.250 million), consolidated turnover in fiscal year 2010 reached EUR362.5 million and was 5.2% higher than the previous year's mark (2009: EUR344.5m). The ratio of prepaid to postpaid subscribers improved further to 51% to 49% (2009: 56% to 44%).
The positive development of turnover in fiscal year 2010 continued in the final quarter of the year. In the fourth quarter, revenues rose by 8.9% or EUR8.3 million to EUR100.7 million (Q4-2009: EUR92.4m). In comparison with the third quarter 2010, turnover rose by EUR15.9 million or 18.7% (Q3-2009: EUR84.8m).
Gross profit came to EUR88.4 million at the end of the year, an improvement over the previous year (2009: EUR80.9m) of 9.3% or EUR7.5 million. The gross profit margin improved by 0.9% to 24.4% (2009: 23.5%).
The consolidated EBITDA, adjusted for extraordinary expenditures and income, rose by 13.2% or EUR5.8 million to EUR49.3 million (2009: EUR43.5m).
The consolidated profit declined, primarily as a consequence of the non liquidity related attribution of the previous year on our holding in freenet, by EUR70.2 million (2009: EUR101.2m) to EUR31.0 million, and profit per share came to EUR0.58 (2009: EUR1.98).
Owing to the continued high level of operating cash flow of 40.8 million Euro, the net financing liabilities were reduced by 44.2% to EUR29.3 million (2009: EUR52.6m). Interest results improved by EUR1.5 million to -EUR1.2 million (previous year: -EUR2.7 million).
Cash rose by EUR0.7 million to EUR27.6 million (previous year: EUR26.9 million).
The management board and the supervisory board propose to the general meeting on May 27, 2011 a dividend of EUR0.50 per share.
Outlook 2011
Increase of EBITDA to EUR52 million after EUR49.3 million in 2010 as well as an increase of the postpaid subscriber base
Dividend forecast
For FY-2011 we do expect being able to pay a comparable high dividend as for FY-2010. There is a further dividend leeway of EUR0.20 to EUR 0.40 possible, if freenet AG pays the already announced EUR 0.80 per freenet-share for FY 2010 payable in 2011 and the assumed dividend of EUR 0.80 for 2011 payable in 2012.
Drillisch Group Figures Based on IFRS
| In EURm | 2010 | 2009 |
| Turnover | 362.5 | 344.5 |
| EBITDA | 46.1 | 50.7 |
| EBITDA adjusted | 49.3 | 43,5 |
| EBIT | 40.4 | 44.4 |
| EBT | 42.6 | 110.9 |
| Consolidated results | 31.0 | 101.2 |
| EPS | 0.58 | 1.98 |
| EBITDA margin in % of turnover | 12.7 | 14.7 |
| EBITDA margin (adjusted) in % of turnover | 13.6 | 12.6 |
| EBIT margin in % of turnover | 11.1 | 12.9 |
| EBT margin in % of turnover | 11.8 | 32.2 |
| Consolidated profit margin in % of turnover | 8.6 | 29.4 |
| Equity ratio (equity in % of balance sheet total) | 51.5 | 48.7 |
| Return of Equity (ROE) (ratio Group result to equity) | 20.9 | 318.8 |
| Cash-flow from current business operations in EURm | 40.8 | 53.9 |
| Depreciation excluding goodwill in EURm | 5.7 | 6.3 |
| Investments (in tangible and intangible fixed assets) adjusted in EURm | 4.0 | 3.9 |
| Staff as annual average (incl. Management Board) | 379 | 382 |
| Subscribers (in thousands) as per 31/12 | 2,431 | 2,250 |
| Therof Debit | 1,240 | 1,268 |
| Therof Credit | 1,191 | 982 |
The Annual Report will be published on 25 March on the Internet; log on to:
http://www.drillisch.de/index.php?page=reports&group=investor-e:reports
Maintal, 24 March 2011
Drillisch AG
The Management Board
Contact:
Oliver Keil
Head of Investor Relations
Mail: [email protected]
End of Corporate News
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| Language: | English |
| Company: | Drillisch AG |
| Wilhelm-Röntgen-Straße 1-5 | |
| 63477 Maintal | |
| Deutschland | |
| Phone: | +49 (0)6181 412 200 |
| Fax: | +49 (0)6181 412 183 |
| E-mail: | [email protected] |
| Internet: | www.drillisch.de |
| ISIN: | DE0005545503 |
| WKN: | 554550 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart |
| End of News | DGAP News-Service |
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| 116962 24.03.2011 |