AURELIUS: Provisional figures for 2017 confirm record year

13.03.2018

AURELIUS: Provisional figures for 2017 confirm record year

  • Total consolidated revenues over EUR 4 billion for the first time
  • Record EBITDA of the combined Group at EUR 627.7 million
  • Financial year 2017 characterized by six new acquisitions and three very successful exits
  • Operating EBITDA at the previous year's level despite sales of profitable companies and acquisitions of unprofitable companies
  • Dividend proposal of EUR 5.00 per share

Munich, March 13, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) generated total consolidated revenues of EUR 4,047.3 million in financial year 2017 (2016: EUR 2,892.3 million) according to provisional and not yet finally audited annual figures. Annualized consolidated revenues from continued operations amounted to EUR 3,612.7 million, up from EUR 2,067.9 million in the previous year.

Record EBITDA of the combined Group at EUR 627.7 million – financial year 2017 characterized by six new acquisitions and three very successful exits

AURELIUS generated EBITDA of the combined Group in the record amount of EUR 627.7 million in financial year 2017. This includes income from the reversal of negative goodwill arising on capital consolidation (bargain purchase) from the companies acquired in 2017 amounting to EUR 447.1 (2016: EUR 69.7 million). The bulk of this bargain purchase income can be attributed to the acquisition of the European business activities of the US-based Office Depot group ("Office Depot Europe"). Furthermore, the Danish do-it-yourself retail chain Silvan and the Swiss animal feed business of the US-based Cargill group, now trading under the name Granovit, were purchased in financial year 2017. The AURELIUS group subsidiary Calumet Photographic acquired the online retailer Wex Photographic as part of an add-on transaction in order to strengthen its own business. The majority of the French catamaran manufacturer Privilège Marine SAS was also acquired, through which substantial synergies arise with the AURELIUS group company HanseYachts. The Conaxess Trade Group purchased Galleberg AS, one of Norway’s leading distributors of brand items to grocery, convenience, HoReCa and health and lifestyle shops. EBITDA of the combined Group includes the positive contribution to earnings from company sales in the amount of EUR 193.9 million (2016: EUR 43.9 million).

Operating EBITDA at the previous year's level despite the sale of profitable companies

At EUR 114.9 million, operating EBITDA reached the previous year's level, despite the purchase of not-yet profitable and the sale of profitable group subsidiaries (2016: EUR 114.0 million), which shows that the measures implemented by AURELIUS’ operational function specialists for the reorientation of group subsidiaries are taking effect.

Considerable dividend increase to EUR 5.00 per share

As a result of the successful exit activities and solid operating performance in the group subsidiaries, the Executive Board will recommend to the Supervisory Board that the dividend be increased substantially to EUR 5.00 per share (2017: EUR 4.00) for the Annual General Meeting to be held on May 18, 2018, comprising a base dividend of EUR 1.50 per share (2016: EUR 1.00) and a participation dividend of EUR 3.50 per share (2016: EUR 3.00). AURELIUS has also amended its previous dividend policy. The base dividend is to be permanently increased, reflecting the sustained profitability of AURELIUS. The positive results from the successful exits in 2017 will also be paid out over several years. This ensures that it will be possible to distribute long-term attractive participation dividends for 2018 as well as in the following years.

Telephone conference this Tuesday, March 13, 2018, at 2 p.m.

A telephone conference will be held in English at 2 p.m. CET this Tuesday, March 13, 2018, for interested investors and press representatives. E-mail investor@aureliusinvest.de to register for this event.

Key figures

(in € millions)

1/1-12/31/2016

1/1-12/31/2017

Total consolidated revenues

2,892.3

4,047.3

Consolidated revenues (annualized) 1

2,067.9

3,612.7

EBITDA of the combined Group

148.4

627.7

- of which negative goodwill arising on capital consolidation ("bargain purchase”)

69.7

447.1

- of which restructuring and non-recurring expenses

79.2

128.2

- of which earnings from exits

43.9

193.9

Consolidated operating EBITDA

114.0

114.9

 

12/31/2016

12/31/2017

Liquid funds

416.4

606.3

Equity ratio 2

27%

29%

 

1) From continued operations.
2) Including non-controlling interests.