Aurelius SE & Co. KGaA

Earnings Release • Mar 24, 2016

News Details

Corporate | 24 March 2016 08:00

AURELIUS publishes the 2015 annual report and looks back on a record year

DGAP-News: AURELIUS SE & Co. KGaA / Key word(s): Final Results

2016-03-24 / 08:00

The issuer is solely responsible for the content of this announcement.

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AURELIUS publishes the 2015 annual report and looks back on a record year

– Group expanding rapidly: Total consolidated revenues of EUR 2,013.3 million for the fiscal year with an annualized amount of EUR 2,960.4 million generated by 22,898 employees

– Total EBITDA of EUR 266.2 million and operating EBITDA of EUR 123.1 million up considerably year-on-year

– Dividend proposal of EUR 1.45 per share

– Net Asset Value increased to EUR 1,252.7 million

Munich, March 24, 2016 – The AURELIUS Group (ISIN DE000A0JK2A8) published its annual report today for the 2015 fiscal year and reports on the most successful fiscal year so far in the Company’s history. AURELIUS accordingly increased its total consolidated revenues by 31 percent to EUR 2,013.3 million (2014: EUR 1,531.8 million). Annualized consolidated revenues increased to EUR 2,960.4 million (2014: EUR 1,725.3 million). This can be attributed largely to a total of 8 acquisitions in the past 12 months. EBITDA for the combined group reached EUR 266.1 million (2014: EUR 161.4 million). Operating EBITDA also rose considerably due to the solid performance of most of the Group entities with an increase of 30 percent to EUR 123.2 million (2014: EUR 95.1 million).

Business portfolio considerably expanded as a result of eight acquisitions

AURELIUS once again positioned itself successfully as a well-known partner of major corporations in the acquisition of complex, pan-European corporate spin-offs in the 2015 fiscal year just ended. In addition to the European operations of Tavex SA, a producer of denim fabrics for well-known jeans manufacturers, the solid board and graphic board operations of the Smurfit Kappa Group (today: SOLIDUS Solutions) and the European craft business of British Coats plc (today: MEZ) were acquired. AURELIUS’ continued strong presence in the United Kingdom also paid off. In the second half of 2015, AURELIUS acquired Regain Polymers, the leading British recycler of hard plastic waste, Transform Medical, a provider of surgical and non-surgical cosmetic procedures, and Allied Healthcare, the largest provider of home care services. Since January 1, 2016, the trade operations of Swiss Valora Group (today: Conaxess) and the Reuss-Seifert & Hammerl Group also belong to AURELIUS.

At EUR 176.8 million, the income from the reversal of negative goodwill from the capital consolidation (“bargain purchase gain”) from the subsidiaries consolidated for the first time in fiscal year 2015 clearly exceeded the previous year’s level (2014: EUR 76.8 million). Restructuring and non-recurring expenses amounted to EUR 63.3 million (2014: EUR 59.8 million).

Successful sale of the hotel property portfolio results in special dividend of EUR 0.55 per share

AURELIUS sold a portfolio of four hotel properties in Munich and Hannover in the 2015 fiscal year just ended, thereby realizing a positive contribution to earnings in the double digit millions. The shareholders will share directly in this success in line with the current dividend policy. The Company’s Executive Board and Supervisory Board will therefore propose a dividend distribution in the total amount of EUR 1.45 per share (2014: EUR 2.00) from the net retained profits at the annual general meeting to be held on June 9, 2016, in Munich. The dividend comprises an increased base dividend of EUR 0.90 (2014: EUR 0.80) as well as a special dividend from the aforementioned purchases of EUR 0.55 (2014: EUR 1.20). The planned distribution thus amounts to EUR 45.9 million (2014: EUR 63.4 million).

Strong financial basis for further growth

As a result of the convertible bond issued in November 2015 and the sales proceeds for the hotel property portfolio sold in 2015, the portfolio of liquid assets in the AURELIUS Group reached the record level of EUR 548.9 million as of the reporting date December 31, 2015 (December 31, 2014: EUR 333.3 million). The equity ratio increased to 28 percent (December 31, 2014: 26 percent).

The net asset value of the Group entities was increased to EUR 1,252.7 million (December 31, 2014: EUR 1,150.6 million).

Optimistic outlook

“We assume that the environment in the market for corporate transactions will remain positive for the 2016 fiscal year. We are planning on five to eight new acquisitions in the current year. We managed the first highly successful exit from our portfolio with the sale of our subsidiary fidelis HR in March 2016. In addition, we placed around 20 percent of our listed subsidiary Berentzen Group AG with institutional investors,” said Dr. Dirk Markus, Chief Executive Officer of AURELIUS. “We have made a very good start to the current year. We will also continue to grow this year and let our shareholders share in this development with an attractive dividend.”

Key figures 1

(in EUR millions)	1/1 – 12/31/2015	1/1 – 12/31/2014 ¹
Total consolidated revenues	2,013.3	1,531.8
Consolidated revenues, annualized	2,960.4	1,725.3
EBITDA, Group total	266.1	214.6
– of which bargain purchase gain	176.8	76.8
– of which restructuring and non-recurring expenses	– 63.3	– 59.8
– of which sale of subsidiaries in excess of their carrying amount	29.4	102.5
Operating EBITDA of the combined group	123.2	95.1
Consolidated profit or loss ³	154.9	107.6
Earnings per share (in EUR) ¹,²	4.95	3.28
Cash flows from operating activities 2	138.0	109.9
Cash flows from investing activities 2	15.6	45.7
Free cash flow 2	153.7	155.7
	12/31/2015	12/31/2014 1
Assets	1,921.4	1,462.4
of which cash and cash equivalents	548.9	333.3
Liabilities	1,384.3	1,075.1
of which financial liabilities	345.4	164.4
Equity ³	537.1	387.3
Equity ratio ³ (in %)	28.0	26.5
Number of employees at the reporting date	22,898	12,442

1) The prior-year consolidated statement of comprehensive income and consolicated statement of financial position was adjusted for comparison purposes according to the provisions set forth under IFRS 3.45 ff.

2) From continuing operations.

3) Incl. non-controlling interests.

Net Asset Value of the AURELIUS Group entities (in EUR millions)

Group entities/units	NAV as of 12/31/2015
SECOP	249.2
UK Chemicals	153.7
IT Services	166.7
GHOTEL Group	86.3
German Education Business	67.9
fidelis HR	60.5
Scholl Footwear	57.5
B+P Gerüstbau	29.4
Berentzen Group	36.9
LD Didactic	24.7
Publicitas	21.5
ISOCHEM Group	26.1
HanseYachts	24.4
UK Polymers	23.0
SOLIDUS	28.9
TAVEX Europe	14.0
UK Healthcare	40.1
MEZ	0.0
Other (incl. net funds)	141.9
Total	1,252.7

ABOUT AURELIUS

AURELIUS is one of the leading European investment groups. From its offices in Munich, London, Stockholm and Madrid, AURELIUS acquires participations with development potential. Once under the AURELIUS umbrella, the acquisitions are given a long-term strategic orientation in order for them to fully develop their potential.

Currently, the AURELIUS Group consists of 23 subsidiaries with locations in Europe, Asia, and the U.S.A. These include numerous traditional consumer brands, services businesses and a number of industrial enterprises. Companies are acquired based on strict investment criteria without focusing on any particular industry. Shares of AURELIUS SE & Co. KGaA are listed in the m:access segment of the Munich Stock Exchange and are traded on all German stock markets under ISIN DE000A0JK2A8.

To find out more, visit www.aureliusinvest.com

CONTACT

Anke Banaschewski

Investor Relations & Corporate Communications

Phone +49 (89) 544799 – 0

Fax +49 (89) 544799 – 55

investor@aureliusinvest.de

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