28.02.2014 exceet Group SE  LU0472835155

exceet Group SE: Financial Results 2013 (news with additional features)


 
(DGAP-Media / 28.02.2014 / 19:15) Financial Results 2013 exceet confirmed solid growth basis - Strong Cash Flow Improvement ● Net Sales EUR 190.8 million (2013) ● Order Backlog for 2013 increased by 6.2% (book to bill ratio of 1.03) ● EBITDA Margin 2013 of 9.6% ● Net Debt decreased by EUR 7.0 million to EUR 7.0 million for 2013 ● Free Cash Flow of EUR 6.9 million (3.6% of Net Sales) in 2013 ● Management expects for 2014 further improvement of profitability Luxembourg, February 28, 2014 - 07.30 p.m. exceet Group SE improved 2013 its profitability despite a challenging market. Group sales 2013 increased by 1.1%, reaching EUR 190.8 million against EUR 188.8 million for 2012. The development was negatively affected by the exchange rates of the Swiss franc and US-dollar to the euro which reduced the consolidated net sales by 0.7%. On 31 December 2013 exceet's order backlog amounted to EUR 106.1 million which is 6.2% higher as of 31 December 2012 (EUR 99.9 million) and reflects a book-to-bill ratio of 1.03 (2012: 0.99). Sales in exceet's largest segment, Electronic Components, Modules & Systems (ECMS), increased by 6.4% to EUR 140.7 million against EUR 132.2 million during the same period of the previous year. In 2013, EBITDA reached EUR 20.2 million against EUR 15.8 million in 2012. The EBITDA margin improved accordingly from 11.9% in 2012 to 14.3% in 2013 due to the strong customer demand for intelligent electronics especially in the health sector. The existing customer relationship with Siemens has been reinforced through the launch of two new generations of digital imaging devices. In addition another major player in this field placed a long-term development and manufacturing order. Furthermore, exceet strengthened its close development and manufacturing cooperation with a leading semiconductor equipment manufacturer. The group's customers have initiated several new important development projects in the field of implants and opto-electronics. These projects will support the expected further margin improvement. exceet invested into a new development and production facility in Berlin (Germany) to cover the strong market demand for high-end health applications. The new facility has been completed in August 2013 fully in line with the foreseen budget and timelines. The ID Management & Systems (IDMS) segment was able to move the product mix towards higher margin products improving the EBITDA margin from 4.7% to 5.5% with an EBITDA of EUR 2.5 million (same level as 2012) despite a decrease of net sales of -13.6% to EUR 45.6 million (2012: EUR 52.8 million). The overall performance in 2013 was below expectations due to dramatically reduced order volumes for the German Health Card (Q1), discontinuation of non-strategic low margin business in Eastern Europe and weak demand for skiing cards due to the warm winter in Europe. Nevertheless in the IDMS market segment Retail, exceet has won in Q3 several orders whereof a large order from one of the leading loyalty solution providers. Orders in this segment will positively impact the revenue and profitability situation in the coming quarters. Furthermore, exceet has secured a 4-years contract with Transport for London where exceet was selected to supply potentially 6 to 8 million smart cards per year. The Embedded Security Solutions (ESS) segment achieved sales of EUR 4.4 million during the reporting period (2012: EUR 3.7 million). ESS proved its IT security competence by winning one of Europe's largest public key infrastructure (PKI) projects. ESS underlines to be the ideal partner for such projects since it is certified and experienced in the handling of confidential data and an expert in data communication. Particularly in the field of Machine-to Machine Communication (M2M), customers are seeking for secure communication in various projects. One important pilot project was won in 2013 and already implemented for a customer in the health sector. With a clear focus on M2M solutions and a forthcoming new product launch in 2014 for the security market sector, the management is expecting to double the sales in this segment. Group Financial Positions Due to the focus on higher margin products, the gross profit margin improved from 15.2% to 16.9%, which represents an increase from EUR 28.7 million to EUR 32.3 million (+12.5%). exceet achieved an EBITDA of EUR 18.3 million (9.6% of net sales) in 2013 compared to EUR 16.5 million (8.7% of net sales) in 2012. The net financial income of EUR 2.1 million (2012: net financial loss of EUR 2.3 million) includes a gain of EUR 3.0 million which was a result of the revaluation of warrants (2012: loss of EUR 0.8 million), a positive net foreign currency effect of EUR 0.3 million (2012: loss of 0.4 million) and interest and other financial cost in the amount of EUR 1.2 million (2012: 1.2 million). The reduction of inventory from EUR 35.8 million (2012) to EUR 31.3 million (2013) led to a significant decrease of the net working capital from EUR 35.8 million to EUR 31.0 million, which represents 16.3% of net sales (2012: 19.0%). This had a positive impact on the cash and cash equivalents, which increased to EUR 31.2 million at the end of the financial year (2012: EUR 24.4 million). The solid growth basis is represented in a strong free cash flow of EUR 6.9 million (2012: cash out of EUR 10.6 million). Net debt as at 31 December 2013 decreased by EUR 7.0 million, representing a net debt position of EUR 7.0 million at 31 December 2013, compared to the net debt position at 31 December 2012 of EUR 14.0 million. The net debt to EBITDA ratio dropped to 0.39x versus 0.85x in 2012. During the 2013 financial year, operative cash inflow amounted to EUR 18.3 million, compared to EUR 0.3 million in 2012. Outlook for 2014 The Group is well-positioned in its core markets health, industry and security to face the challenging market environment and will continue to focus on business activities with high margins. Management expects for 2014 moderate organic revenue growth and a further improvement of the profitability. This is supported by the actual positive market trends and the on-going streamlining of the group structure. The complete Annual Report 2013 and the actual Investor Relation Presentation are available at http://www.exceet.lu Please contact for further information: Wolf-Günter Freese, CFO [email protected] exceet Group SE, 115 avenue Gaston Diderich, L-1420 Luxembourg Phone +352 26 29 91 22 ISIN LU0472835155 (Public Shares), Regulated Market, Prime Standard, Frankfurt/Main ISIN LU0472839819 (Public Warrants), Regulated Market, General Standard, Frankfurt/Main exceet will announce first quarter results for 2014 on 2 May 2014 (after closing of the market). About exceet: exceet is an international technology group specialized in the development and manufacturing of intelligent, mission critical and secure electronics with small and mid-size volumes. The group provides highly sophisticated solutions and distinguishes through its technical skill set in embedded intelligent electronics with a leading position in the health, industry & security markets. exceet consists of 6 manufacturing sites in the heart of Europe and 7 technical sales & development centers for customer proximity to ensure smooth and close communication for innovative solutions and attractive time-to-market for the customer. End of Media Release +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=QPFHTGSWJB Document title: Financial Results 2013 --------------------------------------------------------------------- Issuer: exceet Group SE Key word(s): Enterprise 28.02.2014 Dissemination of a Press Release, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: exceet Group SE 114, avenue Gaston Diderich L-1420 Luxemburg Grand Duchy of Luxembourg Phone: +352 2600 3181 Fax: +352 2600 3133 E-mail: [email protected] Internet: www.exceet.ch ISIN: LU0472835155, LU0472839819 WKN: A0YF5P, A1BFHT Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in München End of News DGAP-Media --------------------------------------------------------------------- 255284 28.02.2014


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 143,38 41,54 43,66 45,45 0,62 0,00 0,00
EBITDA1,2 9,49 4,91 6,80 7,80 2,12 -4,00 0,00
EBITDA-Marge3 6,62 11,82 15,57 17,16 341,94 0,00
EBIT1,4 -10,50 2,11 3,71 4,35 -1,14 -4,01 0,00
EBIT-Marge5 -7,32 5,08 8,50 9,57 -183,87 0,00 0,00
Jahresüberschuss1 -11,02 52,40 2,52 3,11 87,05 -2,36 0,00
Netto-Marge6 -7,69 126,14 5,77 6,84 14.040,32 0,00 0,00
Cashflow1,7 8,29 2,28 5,44 7,45 4,08 -4,08 0,00
Ergebnis je Aktie8 -0,55 2,61 0,13 0,16 4,34 -0,12 -0,24
Dividende8 0,00 3,00 1,75 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: BDO

INVESTOR-INFORMATIONEN
©boersengefluester.de
H2APEX Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0YF5P 6,200 Kaufen 225,43
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 16,62 0,00 -31,00
KBV KCV KUV EV/EBITDA
1,95 - 14,73 -56,16
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 13.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.05.2024 29.08.2024 27.11.2023 30.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
8,25% 8,21% 34,78% 5,08%
    
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Beteiligungen , A0YF5P , EXC , XETR:EXC