DGAP-News: AURELIUS reports solid first-half numbers despite COVID-19


DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Quarterly / Interim Statement
AURELIUS reports solid first-half numbers despite COVID-19

13.08.2020 / 07:30
The issuer is solely responsible for the content of this announcement.

AURELIUS reports solid first-half numbers despite COVID-19

- Total consolidated revenues reach EUR 1.6 billion; EUR 3 billion on an annualized basis

- EBITDA of the combined Group: EUR 258.0 million (H1 2019: EUR 53.8 million)

- Most of the Group's companies have weathered the crisis well so far, the portfolio is well positioned: Solid operating EBITDA of the combined Group in an amount of EUR 75.3 million

- The Group is benefitting from its extensive experience in exceptional situations; the portfolio companies have weathered the COVID-19 crisis well thanks to the large-scale deployment of the Group's operations experts

- Outlook: Considerable increase in the acquisition pipeline, attractive acquisitions expected in the coming months

Munich, August 13, 2020 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) published its interim consolidated financial statements for the first half of 2020 on today's date. Total consolidated revenues amounted to EUR 1,628.1 million in the first half of 2020, slightly less than the corresponding figure for the comparable period of last year (EUR 1,890.4 million) due to the sale of large companies in the second half of 2019 and first half of 2020. Annualized consolidated revenues from continued operations reached EUR 3,027.9 million (H1 2019: EUR 3,234.3 million).

Most of the Group's companies have weathered the crisis well so far, the portfolio is well positioned: Solid operating EBITDA of the combined Group in the amount of EUR 75.3 million

The EBITDA of the combined Group quintupled to EUR 258.0 million in the first half of 2020 (H1 2019: EUR 53.8 million). The restructuring and non-recurring expenses incurred in the turnaround of portfolio companies amounted to EUR 44.4 million, which was slightly higher than the year-ago figure (H1 2019: EUR 42.0 million). AURELIUS completed four company acquisitions in the first half of 2020. Consequently, gains on bargain purchases reached EUR 145.0 million in the first half of 2020 (H1 2019: EUR 0 million).

Gains on exits amounted to EUR 82.1 million in the first half of 2020 (H1 2019: EUR -6.8 million). This figure mainly includes the proceeds from the sale of the GHOTEL Group, which was completed in late February 2020.

Despite the sales of several highly profitable subsidiaries in the last few months (GHOTEL Group, Solidus Solutions, Scandinavian Cosmetics), the operating EBITDA of the combined Group amounted to EUR 75.3 million (H1 2019: EUR 102.6 million). The closeness of the nearly 100 AURELIUS operations experts to the portfolio companies paid off handsomely in the last few months. Their years-long expertise and experience in dealing with exceptional situations that they bring to bear at the portfolio companies on a daily basis made an important contribution to the fact that most of the Group companies have weathered the crisis well so far. Where possible, government assistance programs such as the short-time work benefit have been utilized for additional support.

"This crisis and the global economic fallout are unprecedented. But crisis management is what we do best! Thanks to our nearly 15 years of experience in managing and turning around companies in special situations, we kept AURELIUS and its portfolio companies on an even keel in the first half of 2020," said Dr. Dirk Markus, CEO of AURELIUS Equity Opportunities. "We are well positioned financially and operationally and are therefore well prepared to handle the long-term fallout from this crisis and generate further sustainable growth from this strong position."

At EUR 959.8 million, the net asset value of the AURELIUS portfolio at June 30, 2020 was slightly below the level at the end of the first quarter of 2020 (March 31, 2020: EUR 984.3 million). The net asset value per share was EUR 31.19. At the reporting date, cash and cash equivalents amounted to EUR 394.5 million, higher than the corresponding figure at the end of the first quarter of 2020 (March 31, 2020: EUR 385.6 million).

Outlook: Considerable increase in acquisition deal flow expected from autumn onward

Economies across the world have been severely damaged by the ongoing COVID-19 pandemic. AURELIUS has weathered the crisis well so far and the management will do everything possible to keep it this way in the future.

The current economic conditions have caused considerable turmoil in the market for corporate transactions. "For the last 15 years, we have successfully acquired, restructured and then sold companies in crisis and exceptional situations. This experience is helping us master this unprecedented crisis. We believe that the ongoing COVID-19 pandemic will give rise to numerous opportunities for new company acquisitions. We are watching the market very closely and anticipate several attractive acquisitions in the coming months," Dr. Dirk Markus said.

Key figures

(in EUR millions) 1/1-6/30/2019 1/1-6/30/2020
Total consolidated revenues 1,890.4 1,628.1
Annualized consolidated revenues 1,2 3,234.3 3,027.9
EBITDA of the combined Group 53.8 258.0
- of which gains on bargain purchases - / - 145.0
- of which restructuring and non-recurring expenses -42.0 -44.4
- of which gains on exits -6.8 82.1
Operating EBITDA of the combined Group 102.6 75.3
Consolidated profit/loss 1,3 -51.0 115.4
Group earnings per share (diluted, in EUR) -1.58 3.26
Cash flow from operating activities 1 -33.3 25.4
Cash flow from investing activities 1 -54.0 -6.4
Free cash flow 1 -87.3 19.0
  12/31/2019 6/30/2020
Assets 2,541.5 2,372.7
of which cash and cash equivalents 435.7 394.5
Liabilities 2,113.3 1,871.0
of which financial liabilities 468.9 409.2
Equity ³ 428.2 501.7
Equity ratio ³ (in %) 16.8 21.1
Number of employees at the reporting date 13,486 12,935

1) The prior-year consolidated statement of comprehensive income and consolidated statement of cash flows have been adjusted for comparison purposes in accordance with IFRS 5.
2) From continued operations.
3) Including non-controlling interests.

Net asset value of the AURELIUS portfolio (in EUR millions)

Industrial Production 298.6
Retail & Consumer Products 317.0
Services & Solutions 88.9
NAV of the portfolio companies 704.5
Other 255.3
Total 959.8


AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid and Amsterdam. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.

AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, ticker symbol: AR4) is the listed entity within AURELIUS Group and focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. With a team of approximately 100 in-house operations experts, AURELIUS actively supports its portfolio companies in their long-term development. AURELIUS Equity Opportunities currently has 24 portfolio companies located across Europe which employ around 13,000 people and generate annual revenues of approx. EUR 3.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges.

AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Capital invests in leveraged buyouts usually in succession or corporate spin-off situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.

With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.

To find out more, visit www.aureliusinvest.de.

Anke Banaschewski
Investor Relations & Corporate Communications
Telephone: +49 (89) 544799 - 0
Fax: +49 (89) 544799 - 55
E-mail: [email protected]


13.08.2020 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.

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Language: English
Company: AURELIUS Equity Opportunities SE & Co. KGaA
Ludwig-Ganghofer-Straße 6
82031 Grünwald
Phone: +49 (0)89 544 799-0
Fax: +49 (0)89 544 799-55
E-mail: [email protected]
Internet: www.aureliusinvest.de
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1116965

End of News DGAP News Service

1116965  13.08.2020 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 1.596,06 1.574,86 2.998,35 2.902,94 3.612,00 3.150,50 3.380,00
EBITDA1,2 188,88 35,44 272,56 65,72 80,30 361,50 180,00
EBITDA-Marge3 11,83 2,25 9,09 2,26 2,22 11,47 5,33
EBIT1,4 117,35 -22,64 202,00 11,69 -84,20 85,90 40,00
EBIT-Marge5 7,35 -1,44 6,74 0,40 -2,33 2,73 1,18
Jahresüberschuss1 155,45 -10,48 484,49 -39,52 18,27 121,60 15,00
Netto-Marge6 9,74 -0,67 16,16 -1,36 0,51 3,86 0,44
Cashflow1,7 138,04 1,11 -132,16 -50,00 -76,10 227,50 100,00
Ergebnis je Aktie8 3,81 -1,19 5,98 -1,43 -3,43 1,31 0,50
Dividende8 2,45 4,00 5,00 3,00 0,00 1,00 1,25
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - 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: KPMG

Aurelius Equity Opportunities
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0JK2A 26,120 Kaufen 777,59
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,33 10,12 1,62 22,63
1,79 3,42 0,25 2,18
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
0,00 1,00 3,83 18.05.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
13.05.2021 12.08.2021 11.11.2021 31.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-0,10% 16,74% 50,11% 92,20%
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu AURELIUS Equity Opportunities SE & Co. KGaA  ISIN: DE000A0JK2A8 können Sie bei DGAP abrufen

Beteiligungen , A0JK2A , AR4 , XETR:AR4