Sales, EBIT and EBITDA increase sharply
Another dividend increase planned
The Executive Board of euromicron AG (ISIN DE000A1K0300) completed preparation of its IFRS consolidated financial statements for fiscal 2011 on March 16, 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 2012 after the independent auditor has completed its work. The definitive figures will be published and the Analysts’ Conference held in Frankfurt/Main on March 28, 2012.
The provisional figures show that the euromicron Group generated consolidated sales of just over €305 million, around 50% up over the previous year (€204 million). Following the acquisition of telent and strong organic growth of some 10% in euromicron’s traditional markets, the volume of sales is well over the target of €280 to €300 million the company set itself.
Consolidated EBIT grew by 20% to around €24.2 million (previous year: €20.1 million). As a result, the euromicron Group achieved a consolidated EBIT margin of just under 8%, despite high non-recurring expenses as a result of acquisitions (including telent), and so is within its forecast range of 7.5% to 8.5%. Given the first-time consolidation of telent in the euromicron Group, this temporary decline in the EBIT ratio was expected for fiscal year 2011. It will increase as planned in 2012 and 2013 after telent’s business has been integrated and synergies leveraged, with the result that the group will again achieve its target EBIT return of 8% to 11% as it has done in previous years. EBITDA grew by 24% to €30.8 million.
As things stand at present, consolidated net income of around €12.9 million (previous year: €12.1 million) is expected, giving (undiluted) earnings per share of €2.33 (previous year: €2.38). Despite the sharp increase in the weighted average number of euromicron shares in fiscal years 2010 and 2011 and large one-off effects in fiscal 2011, undiluted earnings per share remained largely constant thanks to the euromicron Group’s excellent fundamentals. As a result, our goal of continuity and sustainability has been borne out.
Due to its profitable performance, euromicron AG has a solid foundation for an anticipated dividend payout of €1.15 a share, which the Executive Board and Supervisory Board plan to propose to the General Meeting. That would mean a further increase of some 5% in the dividend over the previous year (€1.10 a share), giving a dividend yield of just under 6% based on a share price of €20. Our new shareholders from the capital increase are also fully entitled to dividends for 2011.
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 mediumsized character and focuses on operational growth, integration and further market penetration, internationalization and expansion.