AURELIUS: First quarter of 2012 characterized by growth and successful transactions

15.05.2012

AURELIUS: First quarter of 2012 characterized by growth and successful transactions

  • Consolidated revenues increased to EUR 252.0 million
  • Another successful exit: EUR 10.6 million profit from sale of Consinto
  • Management Board member Ulrich Radlmayr will leave the board when his contract expires
  • Development of the corporate group overall encouraging

Munich, May 15, 2012 – The Munich-based AURELIUS Group (ISIN: DE000A0JK2A8) succeeded in further increasing consolidated revenues in the first quarter of 2012 to EUR 252.0 million (prior year: EUR 240.9 million). In accordance with IFRS 5, this does not include revenues from subsidiaries sold before the report was prepared. Earnings before interest, taxes, depreciation and amortization (EBITDA) reached EUR 16.5 million (prior year: EUR 16.2 million). This EBITDA includes restructuring and non-recurring expenses in the amount of EUR 4.6 million (prior year: EUR 7.0 million).

The profit of EUR 10.6 million from the sale of Consinto to DATAGROUP on February 16, 2012, is also not included in this reported EBITDA due to the provisions of IFRS 5. However, the EBITDA includes income from the reversal of negative goodwill from the capital consolidation (bargain purchase) in the amount of EUR 6.1 million from the takeover of the Spanish company Thales CIS in March 2012.

Effects from the takeover of Getronics operations in Europe and Asia ("Getronics Europe and APAC") by Royal KPN, also announced in Q1 2012, are not included in the figures from the first quarter of 2012, since this transaction has meanwhile been fully executed and is consolidated as of May 1, 2012.

Operating cash flow amounted to EUR -13.0 million (prior year: EUR -12.5 million) in particular due to the increase in working capital in the first quarter of 2012. Total cash and cash equivalents from continuing and discontinued operations amounts to EUR 154.9 million (December 31, 2011: EUR 162.4 million). The equity ratio was 31 percent compared to 30 percent for the period ended December 31, 2011.

Ulrich Radlmayr, Management Board member responsible for the areas of Finance, Legal, and Taxes since January 1, 2008, and previously providing consultation, decided not to extend his management contract expiring on June 30, 2012, for personal reasons. His areas of responsibility will be divided among the remaining three board members in the future.

"Mr. Radlmayr functioned very successfully at AURELIUS in recent years. We thank Mr. Radlmayr sincerely for his work and wish him well in his future personal and professional endeavors", said Dirk Roesing, Chairman of the Supervisory Board of AURELIUS AG.

Outlook

"Operating development is positive in most of the Group