02.03.2017
Francotyp-Postalia Holding AG DE000FPH9000
DGAP-News: Francotyp-Postalia Holding AG: FP dispels 'myths' and posts revenues and earnings growth in 2016
DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Preliminary
Results/Preliminary Results
Francotyp-Postalia Holding AG: FP dispels 'myths' and posts revenues and
earnings growth in 2016
02.03.2017 / 06:57
The issuer is solely responsible for the content of this announcement.
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Corporate news
FP dispels "myths" and posts revenues and earnings growth in 2016
- Preliminary 2016 results: all key figures increase, 100% of targets
achieved
- Revenues climbs 6.2% to EUR 203.0 million
- EBITDA improves by 1.6% to EUR 27.2 million
- Consolidated net income increases by 66.5% to EUR 6.2 million
- FP will propose dividend of 16 cents
- Free cash flow of EUR 4.6 million significantly positive
- Further growth in revenues and EBITDA for 2017 expected
Berlin, 2 March 2017. According to preliminary results, Francotyp-Postalia
Holding AG, an expert in secure and efficient communication, saw
significant growth in the 2016 fiscal year and exceeded the EUR-200-million
revenues mark for the first time. At the same time, the company improved
its return on revenues and generated positive free cash flow again. Rüdiger
Andreas Günther, CEO of the FP Group, explained: "We saw dynamic growth in
2016 and are showing strength in all divisions." The company has achieved
all its targets for 2016 and even exceeded these in some cases. Günther
explained: "Three assumptions have been slowing down our company for years:
the market for franking systems is shrinking, FP is unable to achieve
further growth in the core business and digitization will happen overnight.
All of these assumptions are nothing more than a myth. With the good
figures that have been given today, we are showing the potential that lies
in our company."
Growth in the core business with franking systems
According to preliminary results, the FP Group's revenues rose by 6.2% to
EUR 203.0 million in 2016. All divisions contributed to this increase.
Revenues with franking systems was driven by higher product sales and
improved by roughly 2% to EUR 125.9 million. The company posted higher
growth rates in the software business at 4% to EUR 14.2 million. In
particular, the Mail Services segment also posted growth of 17% to EUR 62.8
million. Negative exchange rate effects of EUR 2.3 million prevented an
even stronger rise in revenues.
Consolidated net income and earnings per share rise significantly
Despite a negative exchange rate effect of EUR 1.1 million, EBITDA improved
to EUR 27.2 million compared to EUR 26.8 million in the previous year
according to preliminary results. EBIT rose significantly to EUR 9.7
million after EUR 9.0 million in 2015. According to preliminary results,
consolidated net income performed even better and jumped to EUR 6.2 million
compared with EUR 3.7 million in the previous year. As a result, earnings
per share rose to EUR 0.36 compared with EUR 0.22 in 2015. The Management
Board and Supervisory Board therefore intend a dividend of 16 cents per
share for the 2016 fiscal year according to the communicated dividend
policy. Consolidated net income benefited particularly from an improvement
in interest income thanks to higher interest income from finance leases and
success with the improvement of the tax rate as part of the FP FIT
programme. Günther explained: "We have kept our promises and significantly
reduced the high tax rate."
The increase in free cash flow also underlines the company's good
performance in 2016. According to preliminary results, this control
parameter, which is important for the FP Group, improved to EUR 4.6 million
after negative free cash flow of -EUR 1.4 million in 2015. Investments in
the acquisition of 49% non-controlling interests in IAB and the increase in
finance leases to boost sales and retain customers thereby had an impact of
EUR 4.9 million on free cash flow.
FP CEO Günther said: "2016 was a good year. But we are going to be even
better. We have also set ourselves ambitious goals. Last year, we
demonstrated our ability to deliver. In the next two years, we will build
the foundations to achieve more profitable growth with our ACT growth
strategy and FP FIT." In November 2016, the company presented its FP FIT
measures to the public in order to increase its implementation expertise
and efficiency in all areas in addition to the new ACT growth strategy.
FP expects profitable revenues growth
2017 will be shaped by the continued implementation of ACT and FP FIT.
Günther explained: "We will not leave one stone unturned. But we will also
need time to implement our plans." This is why the FP Group expects a
slight increase in revenues and EBITDA on the assumption that exchange
rates remain unchanged. Based on high investments in the modernisation of
the product portfolio in previous years, the FP Group expects amortisation
and depreciation to rise in 2017. Despite a slight increase in investments
for ACT and FP FIT, the company expects an adjusted free cash flow at a
similar level to last year. Günther explained: "In the years to come, we
will release the forces that drive growth within the FP Group with ACT."
The company aspires to generate revenues of around EUR 250 million and an
EBITDA margin of 17% in 2020. At the moment, the EBITDA margin is 13%.
Key figures at a glance:
in EUR million 2016 2015 Change
Revenues 203.0 191.1 +6.2%
EBITDA 27.2 26.8 1.6%
EBIT 9.7 9.0 8.1%
Consolidated net income 6.2 3.7 66.5%
Earnings per share (in EUR) 0.36 0.22 64.5%
Investment 17.6 20.1 -12.5%
Free cash flow 4.6 -1.4 n/a
Contact
Francotyp-Postalia Holding AG
Investor Relations/Public Relations
Sabina Prüser
Tel: +49 (0)30 220 660 410
Fax: +49 (0)30 220 660 425
E-mail: [email protected]
De-Mail: [email protected]
About Francotyp-Postalia Holding AG
The FP Group, which has its headquarters in Berlin, is expert in secure and
efficient communication. The global company offers all products and
solutions for communication and document processes and thus focuses on
business and private customers. In addition to traditional machinery to
frank and insert mail, the company's range comprises services such as the
collection of business mail and innovative software solutions such as De-
Mail. The FP Group is now present in many developed countries with its own
branches and has a global market share of more than 10% in the area of
franking machines. Having existed for over 90 years, the FP Group now
benefits - on all markets - from the willingness of companies to digitise
business processes and outsource their business mail to a professional
service provider. In the 2016 fiscal year, the company generated more than
200 million euro revenues. The FP Group employees over 1,000 people
worldwide.
Contact:
Francotyp-Postalia Holding AG
Media Relations
Telephone: +49 (0)30 220 660 410
Telefax: +49 (0)30 220 660 425
E-Mail: [email protected]
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Language: English
Company: Francotyp-Postalia Holding AG
Prenzlauer Promenade 28
13089 Berlin
Germany
Phone: +49 (0)30 220 660 410
Fax: +49 (0)30 220 660 425
E-mail: [email protected]
Internet: www.fp-francotyp.com
ISIN: DE000FPH9000
WKN: FPH900
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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549593 02.03.2017
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