- Consolidated sales increase by 14% to €187.3 million
- Consolidated EBIT grows to €18.0 million (+ 13%)
- Consolidated EBITDA grows by 12% to €21.1 million)
- Earnings per share (undiluted) rise by 34% to €2.39
The euromicron Group can look back on a successful fiscal year 2009 and is successfully withstanding the tough economic climate thanks to its broad lineup.
The Group achieved its operational targets and, under the slogan “Development”, is pressing ahead with its strategic company development objectives by means of intensified integration measures.
Streamlining of our corporate structures was coupled with further training of employees and the management team, as well as further development of the management structure. Focusing and merging our customer support activities in the various regions of Germany into a customer-centric organization is one good example of our build-and-integration phase. Our customers are provided with nationwide support by their respective contact persons and so can reap the benefits euromicron offers as a competent, supra-regional company.
“euromicron has held its own outstandingly as a niche provider in the still strained overall economic situation thanks to a competent and profitable concept. Our customers attach importance to the quality of what we offer. We transform ideas into solutions – from technology to solution. That is the mission on which our success is founded,” says Chairman of the Executive Board Dr. Späth.
Consolidated sales
In fiscal 2009, the euromicron Group generated sales of €187.3 million, an increase of 14% year-on-year. Sales outside the German market were €25.2 million (previous year: €30.6 million), a share of 13.4% in relation to total sales. This decline also reflects the weakness of the international market.
Consolidated income
In the period under review, consolidated EBIT rose from €16.0 million in the previous year to €18.0 million. EBITDA increased by 12% to €21.1 million.
The net profit also increased to €10.7 million, or by 33.2% over the previous year. Undiluted earnings per share were €2.39, a significant rise over the previous year (€1.78). “That means we have far surpassed our target for operating earnings per share of €2.00,” states Dr. Späth.
Order situation at the Group
New orders in fiscal 2009 rose by around 15% to €186.5 million (previous year: €161.9 million).
Order books at December 31, 2009, were €69.8 million, almost at the same level of the previous year (€70.6 million).
Balance sheet structure
The euromicron Group’s total assets at December 31, 2009, were €185.9 million (previous year: €172.1 million).
Personnel
In fiscal 2009, the euromicron Group employed 1,149 people, including trainees. This increase is mainly due to changes in the consolidated companies. Employees actively leverage the know-how from the individual fields of expertise at the company’s various units and so expand their skills.
Stockholders’ equity
Stockholders’ equity at December 31, 2009, was €80.3 million (previous year: €73.8 million), a year-on-year increase of 8.8%. Despite the growth in total assets, the equity ratio at December 31, 2009, rose to 43.2% (previous year: 42.9%), in particular due to the increase in earnings. The return on equity is now more than 13%.
The share
In the wake of the global financial and economic crisis, and the resultant lows on all stock markets worldwide, euromicron AG’s share outperformed the general upward trend of the DAX and TecDAX to close the year at €15.60. The keen interest shown in talks with investors, roadshows and one-on-ones confirms euromicron’s strategy of focusing on long-term, sustainable earnings.
The target for fiscal 2009 was to achieve earnings per share of €2.00 so as to be able to propose a dividend of €1.00 to the General Meeting again. This goal was surpassed thanks to the company’s good business performance. The Executive Board and Supervisory Board will propose to the General Meeting on June 17, 2010, to distribute €1.00 per share in line with its continuous dividend policy, i.e. around 50% of operating profit. Since only moderate taxes had to be paid, the result is a higher net profit (€10.7 million) and so the Executive Board recommends carrying forward this non-operating portion of the profits to a new account as a provision in the current tough economic times. “By taking this step, we aim to live up to our strategy of acting with an eye to the future and not be swayed by short-term considerations, something that would not accord with our responsibility to ensure cost-effective corporate governance that is geared to the longer term,” says the Chairman of the Executive Board.
Outlook
“Further development and integration of our Group are our mottos for the new fiscal year 2010,” states Dr. Späth. “We will adjust our orientation unswervingly to market requirements at the technological and business level.” The forecasts continue to point to growth. “We aim to let our shareholders share in our performance: our investments are geared to driving innovating and will boost the company’s value, while an attractive dividend will pay interest back on the capital contributed. We are constantly working to ensure that our lenders continue to put their trust in us in this way. Together we are stronger!” stresses Dr. Späth.
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.