Earnings Release • Jul 21, 2011
Earnings Release
Open in ViewerOpens in native device viewer
21 July 2011
Wendel, the founder of Helikos through Oranje-Nassau Développement, announces that it will become a shareholder in Exceet Group AG ("Exceet"), the European market leader in embedded intelligent electronic systems, following the approval of the acquisition of Exceet by Helikos' extraordinary general meeting which was held today.
The closing of the acquisition is expected to occur on July 26, 2011. Wendel will then own 28.4% of the public shares and 30.2% of the voting rights of Helikos. This stake could mechanically evolve in the future if Exceet's stock price reaches certain thresholds.
Frédéric Lemoine, Chairman of the Executive Board, said, "We are very pleased to support Exceet for the long term. Led by an experienced management team, Exceet is a fast-growing company anchored in a region which benefits from a very strong economic development. Its end markets, such as medtech, industrial automation and security for financial services, provide an excellent outlook for medium- and long-term growth."
Including €22.3 million invested at the beginning of 2010 at the Helikos launch and €27.8 million of share purchase during this transaction, the overall amount invested by Wendel will amount to €50.1 million. Moreover, Wendel will provide up to €11.3 million of shareholder loans.
Details of the transaction and all regulatory documentation are available at www.helikosgroup.com.
With strong German roots and industrial and commercial presence, Exceet is a European market leader in embedded intelligent electronic systems. It designs, develops and produces customised and essential components for blue chip clients, particularly in the fields of medical and healthcare, industrial automation, financial services, security, avionics and transportation.
Its product portfolio ranges from complex electronic modules and systems that are generally integrated in costly devices, smartcards and chips, which are produced in small and medium quantities. Exceet serves its clients' entire value chain from design to after sales and lifecycle management services.
Exceet posted sales of €119.7 million(*) in 2010, an over 50% increase (including organic growth of 20%) compared to the previous year. Its operating income (EBITDA) more than doubled from €7.0 million to €17.7 million over the same period. Exceet achieved a 30% growth of its sales in the first half-year 2011. (*)On a converted Swiss franc to euro basis
Wendel is one of Europe's leading listed investment firms. The Group invests in France and abroad, in companies that are leaders in their businesses: Bureau Veritas, Legrand, Saint-Gobain, Materis, Deutsch and Stahl. Wendel plays an active role as industry shareholder. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions.
Through Oranje-Nassau Développement, which gathers growth, diversification and innovative investment opportunities, Wendel is also invested in VGG in the Netherlands, Helikos in Germany and Parcours in France. Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor's rating: Long term BB-, stable outlook – Short term B since 19 July 2010.
Wendel is the Founding Sponsor of the Centre Pompidou-Metz, which has hosted nearly 800,000 visitors since its opening in May 2010.
Christèle Lion: + 33 (0) 1 42 85 91 27 Laurent Marie: +33 (0)1 42 85 91 31 [email protected] [email protected]
Press contact Analyst and investor contacts Olivier Allot: +33 (0)1 42 85 63 73 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.