Publication of the annual financial statements postponed to April 21, 2011
euromicron has decided to provide its shareholders with preliminary information on the annual financial statements and announces that, on the basis of the unaudited provisional figures, the company is confirming its forecast, with sales coming in at around €203 million (previous year: €187 million) and EBIT at just over €20 million (previous year: €18 million). Consolidated EBITDA will increase by 14% to approximately €24 million. Given an anticipated average tax ratio of 30%, euromicron currently assumes that its net income for the year will be between €11-12 million. The distribution policy will be retained, thus ensuring an unbroken dividend record despite the issue of new shares and the sale of treasury shares in 2010.
euromicron AG also reports that publication of the 2010 annual financial statements will be postponed by 3 weeks to April 21, 2011. This is due to the fact that, after BDO Deutsche Warentreuhand AG resigned its commission to audit the 2010 annual financial statements in November (see the information for shareholders on the homepage of euromicron AG at http://www.euromicron.net/en/investor-relations/shareholder-... for more details), the new auditing firm PwC PricewaterhouseCoopers AG could only be appointed at the end of November 2010, with the result that it was not able to commence its work until the beginning of December 2010 and so around 4 weeks later than normally envisaged for euromicron’s annual financial statements. This formal delay and the work needed to deal with the adjustments stipulated by the German Financial Reporting Enforcement Panel and accepted by euromicron meant that, despite mobilizing all its forces and its extremely professional work on the part of PwC, the time lost was not able to made up so as to ensure the customary care euromicron expects in auditing of its statements. Consequently, publication of the 2010 annual financial statements will be postponed. The Analysts’ Conference will also be held on April 21, 2011.
Since July 1, 2005, the German Financial Reporting Enforcement Panel (DPR) has audited the accounting of companies who are on Germany’s Regulated Market (enforcement).
euromicron AG 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 its leading applications, such as e-health, security, control or surveillance systems, on the basis of these 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.