AURELIUS publishes preliminary numbers for the 2018 financial year

12.03.2019

AURELIUS publishes preliminary numbers for the 2018 financial year

  • Total consolidated revenues reach EUR 3.8 billion
  • Group’s portfolio strengthened by investments and 12 new acquisitions 
  • Operating EBITDA close to last year’s level despite sales of highly profitable companies
  • Management to propose a base dividend of EUR 1.50 per share, unchanged from last year; the participation dividend will depend on the exit proceeds generated in the time until the annual general meeting 

Munich, March 12, 2019 – According to preliminary and not yet finally audited numbers, AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) generated total consolidated revenues of EUR 3,781.8 million in the 2018 financial year (2017: EUR 4,047.3 million). Annualized consolidated revenues from continued operations reached EUR 3,819.1 million, after EUR 3,257.5 million in 2017. 

Group’s portfolio strengthened by investments and 12 new acquisitions 

AURELIUS expanded its portfolio in financial year 2018 by acquiring 12 companies, eight of which being add-on acquisitions to strengthen existing subsidiaries. Among the new platform investments, the globally active multi-channel bookseller Bertram Books (formerly: Connect Books) in the United Kingdom was acquired in February 2018. In addition, AURELIUS acquired Ideal Shopping Direct, a leading multi-channel home shopping provider in the United Kingdom, in late July 2018. It completed the acquisition of the Mannheim-based water and wastewater valves manufacturer VAG from the US Rexnord Group in late November 2018. AURELIUS acquired Hellanor, the Norwegian wholesaler of automotive parts, in December 2018. The add-on acquisitions were mainly conducted by the AURELIUS subsidiaries GHOTEL hotel & living, SOLIDUS, and the Scandinavian Cosmetics Group. AURELIUS made extensive investments in the existing portfolio of companies, which had also a positive impact on the subsidiaries’ market positions and competitiveness. A considerable number of portfolio companies developed to market maturity in 2018. For this reason, further lucrative sales can be expected in the 2019 financial year.

Operating EBITDA close to last year’s level despite sales of highly profitable companies in the 2017 financial year 

AURELIUS generated an operating EBITDA of EUR 103.0 million in financial year 2018, which was in line with the Group’s forecast of operating EBITDA at the level of the average of the previous years. As expected, the EBITDA of the combined Group of EUR 94.4 million was considerably less than the prior-year figure (2017: EUR 627.7 million) due to the lower gains on transactions. This figure includes EUR 84.4 million of gains on bargain purchases of companies acquired in 2018 (2017: EUR 447.1 million) and EUR 6.5 million of profit contributions from exit sales (2017: EUR 193.9 million). 

Management to propose a base dividend of EUR 1.50 per share, unchanged from last year; the participation dividend will depend on the exit proceeds generated in the time until the annual general meeting 

The Executive Board will propose a base dividend of EUR 1.50 per share, unchanged from last year, to the Supervisory Board for the annual general meeting to be held on July 19, 2019.

In addition to the base dividend, AURELIUS Equity Opportunities SE & Co. KGaA will pay a so-called participation dividend to shareholders in the event of successful exit sales. If further portfolio companies are sold in the time until the annual general meeting, a proportional participation dividend will be paid to shareholders on the basis of the corresponding exit proceeds.

Key figures

(in EUR millions)

1/1-12/31/2017

1/1-12/31/2018

Total consolidated revenues

4,047.3

3,781.8

Annualized consolidated revenues 1

3,257.5

3,819.1

EBITDA of the combined Group

627.7

94.4

- of which gains on bargain purchases

447.1

84.4

- of which restructuring and non-recurring expenses 

128.2

99.5

- of which gains on exits

193.9

6.5

Consolidated operating EBITDA 

114.9

103.0

 

12/31/2017

12/31/2018

Cash and cash equivalents 

606.3

290.8

Equity ratio2

29%

25%

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