AURELIUS with strong increase in operating income in first quarter

25.05.2011

AURELIUS with strong increase in operating income in first quarter

  • Quarterly revenues increase by 85 percent to 327.1 million euros
  • Good operating development of subsidiaries
  • Increasing acquisition and exit activity

Munich, May 25, 2011 – Munich-based AURELIUS group (ISIN: DE000A0JK2A8) increased consolidated revenues in the first quarter of FY 2011 by 85 percent to 327.1 million euros (previous year: 177.1 million euros). This increase is mainly due to the acquisition of new subsidiaries in 2010. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased above average by 122 percent to 17.1 million euros (previous year: 7.7 million euros) and reflects the overall positive operating results from the subsidiaries. EBITDA does include negative one-off effects caused by restructuring expenses from the subsidiaries, totalling 7.0 million euros (previous year: 3.9 million euros).

Operating cash flow added up to minus 10.1 million euros mainly because of an increase in working capital (previous year: 5.4 million euros). Cash and cash equivalents continued to be on a high level at 155.5 million euros (31 December 2010: 177.2 million euros). Equity ratio has been at 34 percent by the end of the first quarter compared to 33 percent at 31 December 2010.

Increasing acquisition and exit activity

AURELIUS subsidiary connectis managed to strengthen its core business by the takeover of the Swiss ICT-company Grouptec. Grouptec is a leading specialist for Microsoft Unified Communication & Collaboration solutions. This takeover marks the next step in the expansion strategy of connectis which has been introduced after the acquisition by AURELIUS.

Furthermore AURELIUS has successfully sold its subsidiary Book Club Associates Ltd. (BCA), Britain’s biggest mail order and online book seller, to the strategic investor Webb Group, UK, in the first quarter. The Webb Group is UKs leading service provider of retail home entertainment products, including games, DVDs, music and gifts.

Outlook

For 2011 and 2012 the profitable growth of the subsidiaries shall be continued. The market for M&A transactions is booming. The increasing interest for company takeovers shall therefore lead to some successful exits in the coming twelve to 18 months.