- Consolidated sales increase by around 27% to €57.5 million
- EBITDA rises by around 32% to €5.2 million
- Order books increase by 41% to €117.6 millio
- A dividend of €1.10 planned
The euromicron Group has capitalized on the positive market situation in the first three months of fiscal year 2011 and successfully continued its business policy geared toward growth. The foundation and basis for the company’s goal of growing sales to more than €220 million in 2011 has been laid with this increase.
Consolidated sales
In the first three months of 2011, euromicron generated consolidated sales of €57.5 million, a year-on-year increase of 27.3%. euromicron’s total operating performance rose from €47.8 million to €58.4 million compared with the same period of the previous year.
Consolidated income
Consolidated EBIT rose in the period under review to €4.1 million (previous year: €3.1 million). Operating income of the associated companies was fully as planned at around €5.4 million (previous year: €4.2 million). EBITDA increased from €3.9 million to €5.2 million. Undiluted earnings per share were €0.46 (previous year: €0.38) on a net profit for the period of €2.4 million (previous year: €1.7 million).
Order situation at the Group
euromicron recorded new orders of €64.1 million in the first three months of fiscal 2011, a year-on-year increase of 21%. Order books totaled €118 million (previous year: €83 million). No risks from significant project delays or postponements are currently discernable.
Balance sheet structure
The euromicron Group’s total assets at March 31, 2011, were €202.5 million, up by €6.5 million from December 31, 2010 (€196.0 million).
Personnel
1,160 persons, including 75 trainees, were employed by the euromicron Group in the first three months of fiscal 2011. Personnel costs totaled €14.4 million (previous year: €13.6 million).
Equity
Equity was €91.7 million, around €2.4 million above the level stated in the 2010 financial statements. The equity ratio was 45.3%.
The share
euromicron’s share stood at a very good €22.40 at the start of January 2011, even rising to €23.29. It lost steam at the end of the first quarter, falling to €19.25. In the meantime, its price has stabilized at around €20.50 and its potential is rated by analysts as being around €30.00.
The Executive Board and Supervisory Board will propose to the General Meeting on June 9, 2011, to distribute €1.10 per share in line with the company’s continuous dividend policy.
Outlook
The good economic data for Germany indicate that 2011 will be a good year for business. We anticipate that the main economic drivers in Germany will invest even more strongly in data transmission infrastructures after ramping up production capacities in 2010 in order to withstand the growing pressure to cut costs and fiercer competition. As part of its build-and-integrate phase, euromicron created the preconditions in 2010 for being able to advise and serve customers optimally in all issues. We have pooled capacities and focused expertise by merging companies, optimizing structures and strengthening partnerships.
This concentration enables our customers to obtain integrated solutions that meet their specific needs and are backed by many years of production know-how.
We assume that we will exceed the next milestone of €220 million in sales in the current fiscal year as a result of our planned organic growth of 10%.
“In order to achieve its goals, the Group has promises of sufficient finance from its partner banks. On the basis of this, our high order books, continuing good economic trends and interesting acquisition objects, the Group is well-positioned to achieve its objectives of sustainable expansion,” says Dr. Späth, Chairman of the Executive Board.
You can find the Q1/2011 Interim Report as of May 13, 2011, on our homepage at http://www.euromicron.net/en/finanzberichte
euromicron AG (www.euromicron.de) is an all-round solution provider for communications, data and security networks. Its network infrastructures integrate voice, video and data transport wirelessly, via copper cable and by means of fiber-optic technologies. euromicron builds leading applications, such as security, control, healthcare or surveillance systems, on the basis of these cutting-edge network infrastructures.
Founded on its expertise as a developer and producer of fiber-optic components, euromicron AG is now a strongly growing, highly profitable group that is listed on the stock market, has a medium-sized character and focuses on operational growth, integration and further market penetration, internationalization and expansion.