11.08.2016
AURELIUS Equity Opportunities SE & Co. KGaA DE000A0JK2A8
DGAP-News: AURELIUS Equity Opportunities with consistently strong growth in the first half of 2016
DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Half
Year Results
AURELIUS Equity Opportunities with consistently strong growth in the first
half of 2016
11.08.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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AURELIUS Equity Opportunities with consistently strong growth in the first
half of 2016
- Consolidated revenues up 50 percent to EUR 1,346.7 million -
consolidated revenues of more than EUR 3 billion on an annualized basis
- Six new acquisitions and three successful company disposals in the
first half of 2016
- Total EBITDA EUR 99.7 million - Cash inflow from disposals of around
EUR 80 million
- Net Asset Value rises to EUR 1,318.5 million
Munich, August 11, 2016 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN
DE000A0JK2A8) continued its growth trend in the first half of 2016 and
increased its consolidated revenues by 50 percent to EUR 1,346.7 million
(H1 2015: EUR 898.2 million). Consolidated revenues reached EUR 3,022.4
million on an annualized basis - an increase of 68 percent. In particular,
the new acquisitions over the past few months contributed to this result.
Successful corporate transactions characterized the first half of 2016
Six new Group entities were acquired in the first half of 2016 alone.
Reuss-Seiffert & Hammerl, a manufacturer of consumables for the concrete
construction industry, and Conaxess Trade, an exclusive distributor for
consumer goods in the large-scale retail business, have belonged to the
AURELIUS Group since January 1, 2016. With the acquisition of the CMC (Colt
Managed Cloud) cloud business of Colt Group S.A., a leading provider of
cloud and hosting services in Europe, and Calumet, a multi-channel retail
group for all things related to photography as well as Working Links, the
leading provider of professional and social rehabilitation services,
AURELIUS UK positioned itself three times as a partner in complex
acquisition opportunities in the United Kingdom. At the end of the first
half of 2016, the commercial activities of the Abelan Group, a provider of
packaging solutions for the European food sector, were acquired in Germany
and the Netherlands.
"We see an uninterrupted growth trend and numerous opportunities for our
business model", says Dr. Dirk Markus, Chairman of the Executive Board of
AURELIUS Equity Opportunities. "All new subsidiaries have one thing in
common: They command an expandable competitive position in fundamentally
promising markets."
In addition to the sale of fidelis HR, a provider for the outsourcing of
personnel administration services, to strategic buyer SD Worx, the Tavex
Group was sold to a Spanish consortium of investors. AURELIUS Equity
Opportunities also sold a significant portion of the interest in its
subsidiary Berentzen Group AG in the past half-year. In total, AURELIUS
received over EUR 80 million for these sales. The income from disposals in
excess of the carrying amount amounted to EUR 3.6 million in the first half
of 2016. Whereas the sale of fidelis HR generated a positive income, the
Tavex Group was sold below its carrying amount. In both transactions, a
very high cash multiple was realized on the capital employed (just under
10x for Tavex; around 40x for fidelis HR).
Key earnings figures reflect brisk transaction activity and solid operating
development
Operating EBITDA reached EUR 47.7 million despite the sale of several
profitable Group subsidiaries and shows the continuing positive performance
of the existing Group entities (H1 2015: EUR 62.6 million). Income from the
reversal of negative goodwill resulting from capital consolidation
("bargain purchase") from companies acquired in the first half of 2016
amounted to EUR 77.3 million (H1 2015: EUR 65.4 million). As a result of
the reorientation of Group entities, restructuring and non-recurring
expenses were incurred in the amount of EUR 28.9 million (H1 2015: EUR 19.4
million). Total EBITDA of the AURELIUS Group reached EUR 99.7 million (H1
2015: EUR 108.6 million).
The net asset value of Group entities increased as of June 30, 2016, to EUR
1,318.5 million, an increase of five percent compared to the end of fiscal
year 2015 (December 31, 2015: EUR 1,252.7 million).
"The market for corporate transactions posted a positive surge in 2016.
Economic as well as political developments are changing the operating
environment in Europe. The recent BREXIT referendum in the United Kingdom
is only the most prominent source of discontinuity. AURELIUS Equity
Opportunities benefits from this environment. Regardless of whether it's
family businesses or major corporations, in the United Kingdom or
continental Europe, the players must react and we are there to help them.
We are well-prepared for this with more than EUR 400 million in liquid
funds", says Dr. Dirk Markus and adds: "At the same time, we will work in
the coming months to fully utilize the inherent potential of our existing
subsidiaries and permanently increase the value of the equity through
efficiency and growth. The prospects for the second half of 2016 are
promising."
Key figures (in EUR millions)
1/1 - 6/30/2016 1/1 - 6/30/2015 Change in Total consolidated 1,346.7 898.2 + 50% revenues Consolidated 3,022.4 1,796.4 + 68% revenues (annualized) ¹ EBITDA, Group total 99.7 108.6 - 8% of which negative goodwill from capital 77.3 65.4 + 18% consolidation ("bargain purchase") of which - 28.9 - 19.4 + 49% restructuring and non-recurring expenses of which income from 3.6 - / - > 100% the disposal of equity investments over the carrying amounts EBITDA, Group 47.7 62.6 - 24% operating activities Consolidated profit 33.3 59.8 - 44% or loss Earnings per share basic (in EUR) 1.06 1.91 - 45 % diluted (in EUR) 1.01 1.91 - 47 % Cash flows from 18.9 47.7 - 60% operating activities ¹ Cash flows from 1.9 - 93.8 > 100% investing activities ¹ Free cash flow ¹ 20.8 - 46.1 > 100% 6/30/2016 12/31/2015 Change in Assets 1,794.2 1,921.4 - 7% of which cash and 414.8 548.9 - 24% cash equivalents Liabilities 1,335.6 1,384.3 - 4% of which financial 326.8 345.4 - 5% liabilities Equity ² 458.7 537.1 - 15% Equity as a 26 28 - 8% percentage of assets ² Number of employees 22,832 22,898 0% at the reporting date¹ From continuing operations ² Incl. non-controlling interests Net Asset Value of AURELIUS Group entities (in EUR millions) Group entities/units 6/30/2016 SECOP 255.6 UK Chemicals 151.3 IT Services 178.4 German Education Business 66.9 GHOTEL Group 48.9 ISOCHEM Group 22.2 Scholl Footwear 50.6 HanseYachts 30.5 SOLIDUS 51.3 Berentzen Group 13.0 LD Didactic 19.6 Publicitas 10.5 UK Healthcare 39.0 B+P Gerüstbau 29.5 UK Polymers 19.6 MEZ 20.2 Reuss-Seifert 12.7 Conaxess Trade Group 32.8 Calumet Photographic 4.6 Working Links 8.0 Other (incl. net financial resources) 253.3 Total 1,318.5ABOUT AURELIUS AURELIUS Group is a pan-European asset manager with offices in Munich, London, Stockholm and Madrid. Over the last ten years AURELIUS has grown from a local turnaround investor to an international multi-asset manager investing in a wide range of sectors and across the capital structure. AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, Ticker Symbol: AR4) represents the listed entity within the AURELIUS Group that focusses on investing in Special Situations and MidMarket transaction opportunities. AURELIUS Equity Opportunities currently has 25 portfolio companies located across Europe which employ around 23,000 people and generate annual revenues of approximately EUR 3.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges with a market capitalisation of c. EUR 1.7 billion as of July 2016. With its group charity AURELIUS Refugee Initiative, AURELIUS provides comprehensive support for refugees on their way towards a better life. To find out more, visit www.aureliusinvest.com CONTACT AURELIUS Group Anke Banaschewski Investor Relations & Corporate Communications Phone: +49 (89) 544799-0 Fax: +49 (89) 544799-55 E-Mail: [email protected] --------------------------------------------------------------------------- 11.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: AURELIUS Equity Opportunities SE & Co. KGaA Ludwig-Ganghofer-Straße 6 82031 Grünwald Germany Phone: +49 (0)89 544 799-0 Fax: +49 (0)89 544 799-55 E-mail: [email protected] Internet: www.aureliusinvest.de ISIN: DE000A0JK2A8 WKN: A0JK2A Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt End of News DGAP News Service --------------------------------------------------------------------------- 491491 11.08.2016
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