AURELIUS publishes annual report for record year 2012

28.03.2013

AURELIUS publishes annual report for record year 2012

  • Consolidated revenues rise to €1,378.1 million (+9%)
  • Fiscal year 2012 distinguished by successful transactions
  • Operating EBITDA at record level of €114.0 million (+28%)
  • Dividend up 105 percent to €4.10/share
  • Positive outlook for the Group

Munich, March 28, 2013 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) published its annual report for the record year 2012. AURELIUS finished the 2012 fiscal year with total consolidated revenues – including subsidiaries sold and therefore deconsolidated in fiscal year 2012 – in the amount of €1,378.1 million (2011: €1,262.6 million). On an annualized basis, consolidated revenues cleared the €1.5 billion mark for the first time and rose by 18 percent to €1,583.7 (2011: €1,342.6 million).

In 2012, AURELIUS successfully sold two more companies with Schabmüller GmbH in July 2012 – the largest exit in the Company's history – and the sale of Consinto GmbH in February 2012. As for acquisitions, the portfolio was expanded by the acquisition of Getronic's operations in Europe and Asia, based in Amsterdam (the Netherlands), the IT consulting activities of Thales Spain and the Spanish IT consultant Steria Iberica (both Madrid, Spain) as well as the Briar Chemicals production site in Norwich (United Kingdom) acquired from BayerCrop Science. AURELIUS' subsidiaries LD Didactic and ISOCHEM also further consolidated their position through so-called add-on acquisitions. Overall, the new acquisitions contributed €500 million to consolidated revenues.

Operating EBITDA reached the record level of €114.0 million

In fiscal year 2012, the combined group's earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 152 percent to €163.5 million (2011: €64.8 million). This includes income from the reversal of negative goodwill from the capital consolidation ("bargain purchase") in the amount of €107.2 million (2011: €3.2 million) as well as restructuring and non-recurring expenses in the amount of €57.7 million (2011: €27.8 million). Accordingly, the combined group's operating EBITDA reached a new record level of €114.0 million (2011: €89.4 million). In total, consolidated earnings increased significantly to €90.0 million (2011: €-63.9 million). Accordingly, diluted earnings per share amounted to €5.22 after €-5.50 in 2011.

Proposal to increase dividend by 105 percent to €4.10 per share

Liquid funds reached the historical high level of €244.7 million at the end of fiscal year 2012 due in particular to the successful exits of Schabmüller and Consinto (December 31, 2011: €154.4 million). Thus, the Company's Management Board and Supervisory Board will propose to the annual shareholders' meeting to be held on May 16, 2013, that the dividend be increased to €4.10/share (previous year: €2.00/share) from the retained earnings of AURESIUS AG. The dividend comprises a 20 percent higher base dividend of €1.80 (previous year: €1.50) and a special distribution of €2.30 (previous year: €0.50). Thus, a total of €39.4 million will be distributed (previous year: €19.2 million). The AURELIUS share currently exhibits a dividend yield of around eight percent.

AURELIUS is well-equipped for further profitable growth. The Company is off to a good start in fiscal year 2013 with the acquisition of Studienkreis Group as of January 1, 2013, and Tieto Germany GmbH as well as the associated operations in the Netherlands, Poland, and India from the Finnish Tieto Group (closing planned in the second quarter of 2013). AURELIUS expects additional transactions in the next few months. Overall, the Company is positive about the Group companies' operating development in the current year 2013 and is basing its planning on the assumption that the consistent reorientation of the Group companies will lead to further increases in net operating income given a positive environment.

Key figures (in € millions)

 

1/1 - 12/31

2012

1/1 - 12/31

2011 ¹

Change

 

 

 

 

Total consolidated revenues

1,378.1

1,262.6

+9%

Consolidated revenues (annualized) ²

1,583.7

1,342.6

+18%

EBITDA, Group total

163.5

64.8

+152%

of which negative goodwill

 

 

 

from the capital consolidation ("bargain purchase")

107.2

3.2

+3,250%

of which restructuring and non-recurring expenses

57.7

27.8

+108%

EBITDA, Group operating

114.0

89.4

+28%

Consolidated net income

90.0

-63.9

+241%

Earnings per share

 

 

 

basic ¹'² (in EUR)

5.23

-5.50

+195%

diluted ¹'² (in EUR)

5.22

-5.50

+195%

Cash flow from operating activities

-16.5

54.9

-130%

Cash flow from investing activities

107.5

-39.5

+372%

Free cash flow

91.0

15.4

+491%

 

 

 

 

 

 

 

 

 

12/31/2012

12/31/2011

Change

 

 

 

 

Assets

1,173.3

943.6

+24%

of which cash and cash equivalents

244.7

154.4

+58%

Liabilities

818.6

661.1

+24%

of which financial liabilities

169.9

185.7

-9%

Equity ³

354.7

282.5

+26%

Equity as a percentage of assets ³ (in %)

30.2

29.9

+1%

Number of employees at the reporting date

10,226

6,631

+54%

¹ The previous year's figures were adjusted for the purpose of comparison based on the requirements of IFRS 5 ² From continuing operations ³ Incl. non-controlling interests