Earnings Release • May 25, 2011
Earnings Release
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Corporate | 25 May 2011 08:35
AURELIUS with considerable increase in revenues in the first quarter
AURELIUS AG / Key word(s): Quarter Results
25.05.2011 / 08:35
Press information
AURELIUS with strong increase in operating income in first quarter
– Quarterly revenues increase by 85 percent to 327.1 million euros
– Good operating development of subsidiaries
– Increasing acquisition and exit activity
Munich, May 25, 2011 – Munich-based AURELIUS group (ISIN: DE000A0JK2A8) increased consolidated revenues in the first quarter of FY 2011 by 85 percent to 327.1 million euros (previous year: 177.1 million euros). This increase is mainly due to the acquisition of new subsidiaries in 2010. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased above average by 122 percent to 17.1 million euros (previous year: 7.7 million euros) and reflects the overall positive operating results from the subsidiaries. EBITDA does include negative one-off effects caused by restructuring expenses from the subsidiaries, totalling 7.0 million euros (previous year: 3.9 million euros).
Operating cash flow added up to minus 10.1 million euros mainly because of an increase in working capital (previous year: 5.4 million euros). Cash and cash equivalents continued to be on a high level at 155.5 million euros (31 December 2010: 177.2 million euros). Equity ratio has been at 34 percent by the end of the first quarter compared to 33 percent at 31 December 2010.
Increasing acquisition and exit activity
AURELIUS subsidiary connectis managed to strengthen its core business by the takeover of the Swiss ICT-company Grouptec. Grouptec is a leading specialist for Microsoft Unified Communication & Collaboration solutions. This takeover marks the next step in the expansion strategy of connectis which has been introduced after the acquisition by AURELIUS.
Furthermore AURELIUS has successfully sold its subsidiary Book Club Associates Ltd. (BCA), Britain’s biggest mail order and online book seller, to the strategic investor Webb Group, UK, in the first quarter. The Webb Group is UK’s leading service provider of retail home entertainment products, including games, DVDs, music and gifts.
Outlook
For 2011 and 2012 the profitable growth of the subsidiaries shall be continued. The market for M&A transactions is booming. The increasing interest for company takeovers shall therefore lead to some successful exits in the coming twelve to 18 months.
| Key figures (in million euros) | 1.1.-31.03.11 | 1.1.-31.03.10* | % |
| Consolidated revenues | 327.1 | 177.1 | +85% |
| EBITDA | 17.1 | 7.7 | +122% |
| Restructuring expenses | 7.0 | 3.9 | + 79% |
| Operating cash flow | -10.1 | 5.4 | -287% |
| 31.03.11 | 31.12.10 | % | |
| Cash and cash equivalents | 155.5 | 177.2 | -12% |
| Equity ratio | 34% | 33% | +3% |
*Adjusted for comparison purposes in accordance with the provisions of IFRS.
Contact:
AURELIUS AG
Investor Relations & Corporate Communication
Phone. +49 (89) 544799 – 0
Fax +49 (89) 544799 – 55
End of Corporate News
25.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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126039 25.05.2011
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