AURELIUS with considerable increase in revenues in the first quarter

21.05.2010

AURELIUS with considerable increase in revenues in the first quarter

  • Revenues rising by 33 percent to 186.6 million euros
  • Cash and cash equivalents adding up to more than 168 million euros

Munich, 21 May 2010 - The Munich-based industrial holding AURELIUS AG (ISIN: DE000A0JK2A8) has continued growing in the first quarter of the current fiscal year. Consolidated revenues of continued operations rose by 32.8 percent to 186.6 million euros (previous year: 140.5 million euros) in the first three months of the current fiscal year. This increase is mainly due to the acquisition of new subsidiaries in 2009. EBITDA of 4.5 million euros (previous year: 36.9 million euros) reflects positive operating results from the subsidiaries. The reversal of negative goodwill recognized on the acquisition of ISOCHEM group in the first quarter, the so-called “bargain purchase”, has not been included in the published consolidated figures because of the still ongoing purchase price allocation. It is expected to be a double-digit million euro amount. EBITDA does already include negative one-off effects caused by restructuring expenses from the subsidiaries, totalling 3.9 million euros (previous year: 4.1 million euros).

Operating cash flow added up to 5.8 million euros in the first quarter of FY 2010 (previous year: -22.0 million euros). Cash and cash equivalents rose to 168.2 million euros (31 December 2009: 155.6 million euros). Equity ratio remained stable at 34 percent compared to the end of fiscal year 2009. “Due to its increased financial power AURELIUS is very well positioned to realise its opportunities on the market,” says Dr Dirk Markus, CEO of AURELIUS AG.

In the first quarter AURELIUS completed the acquisition of chemical group ISOCHEM from French state-owned GROUPE SNPE. ISOCHEM is a leading provider of fine chemicals as well as phosgene and phosgene derivatives for clients of the pharmaceutical, cosmetics, agrochemical and intermediate sector. The company recorded annual sales of 113 million euros with a total of 530 employees. Furthermore AURELIUS successfully sold its stake in home shopping retailer Channel21.