- Growth targets achieved
- Structural and integration measures implemented as planned and managed well in economic terms
- euromicron on the way to the Agenda 500
The Executive Board of euromicron AG (ISIN DE000A1K0300) completed preparation of its IFRS consolidated financial statements for fiscal 2012 on February 28, 2012. All the figures are provisional and have not yet been given an audit certificate. Their approval by the Supervisory Board is an item on the agenda of its meeting at the end of March 2013 after the independent auditor has completed its work. The definitive figures will be published and the Analysts’ Conference held in Frankfurt/Main on March 27, 2013.
Following completion of the buy and build phase in 2011, the strongest fiscal year in euromicron’s history, the Group is rigorously pursuing its path to becoming a €500 million company with its Agenda 500 (corresponding to anticipated annualized sales of €500 million in 2015). In 2013, euromicron is uncompromisingly continuing to implement the structural and integration measures it commenced in 2012 in order to prepare the company for further growth.
The company’s expectations as regards pure operational business have been confirmed: a current situation that makes it difficult to take decisions and a lack of strategic clarity in the telecommunications industry meant that high-margin delivery business did not materialize or was postponed in the second half of the year and in particular in the final quarter of 2012.
The provisional figures show that the euromicron Group has achieved its growth targets for 2012 and generated consolidated sales of around €330 million.
Of the provisional, unaudited earnings before interest and taxes (consolidated EBIT) and before non-recurring expenses of around €21.5 to €22.5 million (previous year: €24.2 million), some €4.5 million was used for restructuring measures to position the company for the future. They included:
- Discontinuation of locations that did not have a viable future
- Reorganization of management structures at the operating companies
- Expansion and modernization of the IT landscape with equipment suitable for an around €500 million company
- Amortization of hidden reserves from purchase price allocations and
- Other smaller measures.
The provisional, unaudited consolidated EBIT will consequently be between €17.0 and €17.5 million. The EBITDA, which euromicron will focus its reporting on to a greater extent in future as its grows further, is provisionally between €24.5 and €25.5 million.
Liquidity and net debt were kept stable despite the non-recurring expenses. Allowing for the dividend payment in 2012, equity is expected to be around the previous year’s level of approximately €120 million. As a result, the company’s good ratings are also confirmed. For the two years of structuring and integration (2012 and 2013), the Executive Board has therefore decided to propose to the Supervisory Board and shareholders paying out a far lower dividend so as to protect its liquidity with a view to the Agenda 500. As far as can be seen at present, the Executive Board will propose a dividend of €0.2 to €0.4 a share.
The euromicron Group has embarked on the new fiscal year with solid order books of almost €130 million and so assumes that, following the phase of operational structuring, the phase of strategic integration of the Group can also be tackled on an economically strong foundation.
euromicron AG (www.euromicron.de) is an all-round solution provider for communications, transport, data and security networks. euromicron’s network infrastructures integrate voice, video and data transport wirelessly, via copper cable and by means of fiber-optic technologies.
euromicron builds its 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 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.