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Francotyp-Postalia Holding AG — Earnings Release 2010
Feb 24, 2011
162_rns_2011-02-24_a281507e-4a57-4c17-bedd-4555dad531bd.html
Earnings Release
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Corporate | 24 February 2011 07:00
Francotyp-Postalia Holding AG: Francotyp-Postalia outperforms revenue forecast for 2010
Francotyp-Postalia Holding AG / Key word(s): Preliminary Results/Preliminary Results
24.02.2011 / 07:00
Francotyp-Postalia outperforms revenue forecast for 2010
– Revenues rise to EUR147.6 million
– EBITDA of EUR25.4 million
– Consolidated net profit improves to EUR1.7 million
– Positive outlook for 2011
Birkenwerder, 24 February 2011. Francotyp-Postalia Holding AG, the first full-service provider for mail communications, has significantly improved its revenues in the past financial year. According to preliminary calculations, the company generated revenues of EUR147.6 million as against EUR129.0 million in the previous year. EBITDA rose to EUR25.4 million after EUR20.6 million in the previous year. Before restructuring costs, EBITDA even increased to EUR26.7 million; the company recognised a provision for a planned restructuring in production of EUR1.3 million in 2010.
The Francotyp-Postalia Group has outperformed the forecast it raised in November 2010 with these preliminary figures. Revenues had been expected to amount to between EUR140 and EUR145 million with EBITDA before restructuring costs of EUR24 to 26 million. The clear surge in revenues as against the previous year is not just as a result of the positive effects of the recovery of the global economy and the successful evolution of the Group into a full-service provider. Rather, a change in the reporting logic under the new regulations for sales tax on postal services in Germany as at 1 July 2010 also had a positive impact on revenues.
Return to profitability
The improvement in earnings highlights the positive overall business performance. This is essentially thanks to the successful restructuring in the last two years, substantially lower write-downs and strict cost management. As a result, EBIT and consolidated net profit also grew in addition to EBITDA. EBIT climbed to EUR7.6 million in 2010 after EUR-15.7 million in the previous year, in which non-recurring write-downs had reduced earnings considerably. The consolidated net profit increased to EUR1.7 million after a loss of EUR16.6 million in the previous year. Deliberately focusing on strengthening financial and earnings power is also seen in a remaining strong free cash flow, the net total of cash generated by operating activities and used in investing activities, of EUR9.4 million which is still on previous year's level despite (EUR9.8 million) higher investing activities in 2010.
'The FP Group is on the right path. In the current year, we will successfully implement the necessary restructuring in production to ensure the company's long-term future,' said Hans Szymanski, CEO of the Francotyp-Postalia Group.
Revenue and earnings growth planned for 2011
The FP Group is anticipating revenues of EUR160 to EUR165 million and EBITDA of between EUR25 and EUR27 million before restructuring. In addition to the sales tax regulations, the company will also continue to benefit from its ongoing development away from being a mail management specialist and towards being a full-service provider for all aspects of mail communications. 'In the medium to long term, we feel there is great potential in the field of digital communications – where our company both ranks among the pioneers and offers state-of-the-art software solutions,' announced Szymanski. The FP Group is aiming to further improve its earnings and financial power with its high-margin products and services.
Francotyp-Postalia Holding AG will present its final, audited results for the 2010 financial year on 28 April 2011.
Contact
Francotyp-Postalia Holding AG
Sabina Prüser
Tel: +49 (0)3303 525 410
Fax: +49 (0)3303 53707 410
E-mail: [email protected]
About Francotyp-Postalia Holding AG
The FP Group is the first full-service provider for mail communications. As an international company, it offers products and solutions for business and private clients. In addition to machinery for franking and inserting mail, its offering includes services such as collecting business mail and innovative software solutions such as the fully electronic letter. The FP Group, based in Birkenwerder near Berlin, can therefore offer tailored multi-channel solutions. The Group currently has its own branches in a number of industrialised nations and holds a global market share in franking machinery of around 10%. With a history going back over 85 years, the FP Group today benefits across all markets from the increasing deregulation of postal markets and the readiness of companies to outsource their business mail to professional service providers. In the 2010 financial year, the company generated revenues of EUR147.6 million and a net income of EUR1.7 million according to preliminary figures. The FP Group employs more than 1,000 people worldwide.
End of Corporate News
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| Language: | English |
| Company: | Francotyp-Postalia Holding AG |
| Triftweg 21-26 | |
| 16547 Birkenwerder | |
| Deutschland | |
| Phone: | +49 (0)3303 525 777 |
| Fax: | +49 (0)3303 53 70 77 77 |
| E-mail: | [email protected] |
| Internet: | www.francotyp.com |
| ISIN: | DE000FPH9000 |
| WKN: | FPH900 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart |
| End of News | DGAP News-Service |
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| 113273 24.02.2011 |