10.11.2016
AURELIUS Equity Opportunities SE & Co. KGaA DE000A0JK2A8
DGAP-News: AURELIUS Equity Opportunities with solid operating performance in the first nine months of 2016
DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s):
Quarter Results
AURELIUS Equity Opportunities with solid operating performance in the first
nine months of 2016
10.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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AURELIUS Equity Opportunities with solid operating performance in the first
nine months of 2016
- Consolidated revenues rise 63 percent to EUR 1,926.9 million
- Operating EBITDA increased considerably in the third quarter
- A total of eight company acquisitions in the first nine months of 2016
- Three successful sales lead to a cash inflow of more than EUR 90
million
- Net Asset Value EUR 1,353.3 million
Munich, November 10, 2016 - AURELIUS Equity Opportunities SE & Co. KGaA
(ISIN DE000A0JK2A8) increased its consolidated revenues in the first nine
months of 2016 by 63 percent to EUR 1,926.9 million (Q1-Q3 2015: EUR
1,184.2 million). Consolidated revenues on an annualized basis increased by
51 percent to EUR 2,749.3 million. The company acquisitions of the past 12
months contributed significantly to this growth.
Solid operating performance, brisk employment activity and three successful
company disposals
Overall, AURELIUS Equity Opportunities generated EBITDA of EUR 122.0
million for the combined group in the first nine months of 2016 (Q1-Q3
2015: EUR 165.6 million). Operating EBITDA amounted to EUR 83.8 million
despite the sale of several profitable Group subsidiaries and reflects the
solid operating performance of most of the Group entities, in particular
the subsidiaries SECOP, Studienkreis, and Getronics (Q1-Q3 2015: EUR 95.4
million).
After six company acquisitions already in the first half of 2016, two
additional acquisitions were carried out in the third quarter of 2016. In
July AURELIUS acquired the British cosmetic clinic operator "The Hospital
Group", while in August 2016 the AURELIUS Group entity B+P Gerüstbau
acquired the construction and specialty scaffolder BSB Group as part of an
add-on acquisition. In total, income was realized from this in the amount
of EUR 77.3 million from the reversal of negative goodwill from capital
consolidation in the nine month period (Q1-Q3 2015: EUR 101.4 million).
In September 2016, AURELIUS sold its remaining shares of the listed
subsidiary Berentzen Group AG to institutional and private investors. As a
result of the sale of Group entities fidelis HR, Tavex, and the Berentzen
Group, a total of more than EUR 90 million flowed to AURELIUS Equity
Opportunities in the nine month period of 2016.
The net asset value of Group entities as of September 30, 2016, was EUR
1,353.3 million - an increase of eight percent compared to the end of
fiscal year 2015 (December 31, 2015: EUR 1,252.7 million).
Positive outlook
"We carried out two additional company disposals in the current fourth
quarter and anticipate more corporate transactions in the coming months",
says Dr. Dirk Markus, Chairman of the Executive Board of AURELIUS Equity
Opportunities. "We also see great potential in the pending acquisition of
Office Depot Europe." At the end of September, AURELIUS submitted a binding
offer to acquire the European business activities of Office Depot, Inc., a
corporate group based in the U.S. The transaction, which will remain
subject to the usual consulting processes of the Office Depot Group and the
approval of the responsible antitrust authorities as well as additional
closing conditions, is expected to be completed in the next few months.
In the current fourth quarter, AURELIUS Equity Opportunities also launched
two share repurchase programs with a volume of up to EUR 52 million. "With
liquid funds of more than EUR 360 million, we are not only in a position to
continue along our dynamic growth course based on our own resources and to
pursue an attractive dividend policy, a major portion of our profits will
also remain in the company thanks to the repurchase of shares", says Dr.
Dirk Markus.
Key figures (in EUR millions)
1/1 - 9/30/2016 1/1 - 9/30/2015 Change Total consolidated 2,147.8 1,440.6 +49% revenues Consolidated revenues 2,749.3 1,823.2 + 51% (annualized) ¹ EBITDA, Group total 122.0 165.6 - 26% of which negative goodwill from capital 77.3 101.4 - 24% consolidation ("bargain purchase") of which restructuring 43.5 31.2 + 39% and non-recurring expenses of which income from 4.4 - / - > 100% the disposal of equity investments over the carrying amounts EBITDA, Group operating 83.8 96.4 - 13% 9/30/2016 12/31/2015 Change Cash and cash 361.8 548.9 - 34% equivalents Equity ratio 1 (in %) 24 28 - 14%1 Incl. non-controlling interests Net Asset Value of AURELIUS Group entities (in EUR millions) Group entities/units 9/30/2016 SECOP 255.6 UK Chemicals 151.1 IT Services 209.4 GHOTEL Group 49.2 German Education Business 68.2 Scholl Footwear 51.8 B+P Gerüstbau 29.9 LD Didactic 15.9 Publicitas 7.3 ISOCHEM Group 23.6 HanseYachts 32.4 UK Polymers 14.5 Solidus 56.4 UK Healthcare 51.2 MEZ 21.3 Reuss-Seifert 15.8 Conaxess 33.1 Working Links 8.0 Calumet 4.6 Other (incl. net cash funds) 254.0 Total 1,353.30ABOUT 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 23,000 people and generate annual revenues of approximately EUR3.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges with a market capitalisation of c. EUR1.7 billion as of October 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] --------------------------------------------------------------------------- 10.11.2016 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 --------------------------------------------------------------------------- 519119 10.11.2016
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