06.03.2017
AURELIUS Equity Opportunities SE & Co. KGaA DE000A0JK2A8
DGAP-News: AURELIUS publishes provisional figures for 2016
DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s):
Preliminary Results
AURELIUS publishes provisional figures for 2016
06.03.2017 / 07:30
The issuer is solely responsible for the content of this announcement.
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AURELIUS publishes provisional figures for 2016
- Further robust growth of total consolidated revenues to EUR 2.9 billion
- Satisfactory operating performance despite the acquisition of
unprofitable and sale of profitable Group entities
- Fiscal year 2016 characterized by eight company acquisitions and seven
sales
- Dividend proposal of EUR 2.00 per share, increase possible in the event
of additional successful sales before the annual general meeting
- Solid financial resources permit considerable expansion of the share
buyback program
Munich, March 6, 2017 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN
DE000A0JK2A8) generated total consolidated revenues of EUR 2,892.3 million
based on the initial provisional annual figures in fiscal 2016, which
corresponds to an increase of 44 percent compared to the prior year (2015:
EUR 2,013.3 million). The annualized consolidated revenues increased to EUR
3,066.3 million.
Satisfactory operating performance despite the sale of profitable Group
entities
Overall, AURELIUS Equity Opportunities achieved EBITDA for the combined
group of EUR from 148.4 million (2015: EUR 266.1 million). The decrease can
be largely attributed to the lower income from the reversal of negative
goodwill from capital consolidation ("bargain purchase") compared to the
prior year. Operating EBITDA reached EUR 114.0 million (2015: EUR 123.2
million) despite the acquisition of yet unprofitable and the sale of
profitable Group entities and reflects the good operating performance of
the Group entities.
Fiscal year 2016 characterized by eight company acquisitions and seven
sales
AURELIUS Equity Opportunities acquired a total of eight Group entities in
the 2016 fiscal year. Reuss-Seiffert & Hammerl, a manufacturer of
consumables for the concrete construction industry, and Conaxess Trade, an
exclusive distributor for consumer goods, were acquired effective January
1, 2016. The purchases of Calumet Photographic, a multi-channel retailer
for all things related to photography, as well as Working Links, the
leading provider of professional and social rehabilitation services in the
UK, were carried out in June 2016. Four of the eight acquisitions were
effected as part of the strategic add-on acquisitions to strengthen
existing subsidiaries: The cloud business CMC (Colt Managed Cloud) of Colt
Group S.A., the commercial activities of the Abelan Group, the British
Hospital Group, and the BSB Group. Income from the reversal of negative
goodwill from capital consolidation from the eight business acquisitions
amounted to a total of EUR 69.7 million (2015: EUR 176.8 million).
"With four transactions completed by our subsidiary in the United Kingdom
in 2016 alone, we have also established ourselves as a valuable partner in
complex pan-European corporate spin-offs", says Dr. Dirk Markus, Chairman
of the Executive Board of AURELIUS Equity Opportunities. "The broad
regional positioning of our investments, and our presence in various
markets offer good diversification and limit the risk for the combined
group."
With a total of seven company sales, including fidelis HR, a provider for
the outsourcing of human resource services, the Tavex Group, the Berentzen
Group AG, and Dutch brightONE IT Services BV, income was generated in the
2016 fiscal year from sales in excess of the carrying amount of EUR 43.9
million (2015: EUR 29.4 million) as well as cash allocations in an amount
considerably more than EUR 100 million.
Dividend proposal of EUR 2.00 per share, increase possible in the event of
additional successful sales before the annual general meeting
The Executive Board will recommend to the Supervisory Board that the base
dividend be raised once again to EUR 1.00 per share (prior year: EUR 0.90
per share) for the annual general meeting to be held on June 21, 2017, as
well as the payment of a special dividend from the sales proceeds since the
last annual general meeting in the amount of EUR 1.00 per share (prior
year: EUR 1.55 per share). The amount of the special dividend would be
increased correspondingly in the event of additional successful company
sales before the 2017 annual general meeting.
Solid financial resources also permit considerable expansion of the share
buyback program
At year-end 2016, AURELIUS Equity Opportunities had cash and cash
equivalents in the amount of EUR 416.4 million (December 31, 2015: EUR
550.2 million) at its disposal. The consolidated equity ratio was 27
percent as of the reporting date December 31, 2016 (December 31, 2015:
33%).
"Owing to our solid financial resources, we are very well-equipped for
additional transactions in the current fiscal year. We once again expect at
least six company acquisitions in 2017", says Dr. Dirk Markus. "We also set
up two share buyback programs in the past year and at the beginning of 2017
with which we will repurchase AURELIUS shares worth up to EUR 52 million. A
large portion of our profits will thereby remain in the Company and
dividends will be distributed to fewer shares."
With the acquisition of the European business of Office Depot as of January
1, 2017, the first acquisition in fiscal year 2017 and at the same time the
largest takeover in the Company's history has already been completed. The
annualized revenues of the AURELIUS Group therefore rose to a new magnitude
and increased to around 4.5 billion euros. Office Depot Europe operates in
14 European countries with its three main activities and brands "Viking",
Contract, and Retail.
In March 2017 AURELIUS acquired Wex Photographic, a leading photographic
retailer in the UK. Servicing half a million customers across the UK, Wex
is the country's largest online specialist photographic retailer, with an
annual turnover of EUR 84 million. Following the deal, Wex will be merged
with Calumet Photographic, a multi-channel photographic retailer acquired
by AURELIUS in June 2016, to create a leading omni-channel offering
servicing the enthusiast and professional photographer market across the UK
and Europe.
Key figures 1
(in EUR millions) 1/1-12/31/2016 1/1-12/31/2015 Total consolidated revenues 2,892.3 2,013.3 Consolidated revenues, annualized 3,066.3 2,960.4 EBITDA, Group total 148.4 266.1 - of which bargain purchase 69.7 176.8 - of which restructuring and non-recurring 79.2 63.3 expenses - of which sale of subsidiaries in excess 43.9 29.4 of their carrying amount Operating EBITDA of the combined group 114.0 123.1 12/31/2016 12/31/20152 Cash and cash equivalents 416.4 550.2 Equity ratio 27% 33%1) The prior-year consolidated statement of comprehensive income was adjusted for comparison purposes according to the provisions set forth under IFRS 5 and IFRS 3.45 ff. The prior-year consolidated statement of financial position was adjusted according to IFRS 3.45 ff. ABOUT 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 23 portfolio companies located across Europe which employ around 25,000 people and generate annual revenues of more than EUR 4.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges with a market capitalisation of c. EUR 2 billion as of February 2017. 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] --------------------------------------------------------------------------- 06.03.2017 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 --------------------------------------------------------------------------- 550477 06.03.2017
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