DGAP-News: Gigaset AG / Key word(s): Half Year Results
Gigaset financial results Q2 2011: Executive Board confirms and
complements 2011 Guidance
11.08.2011 / 07:30
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Gigaset financial results Q2 2011: Executive Board confirms and complements
2011 Guidance
- Further enhanced profitability of core business
- Nearly doubled equity ratio
- Continued positive Free Cash Flow
Munich, 11 August 2011 - Based on the recent business activity, the Gigaset
executive board confirms its full year guidance for 2011. After the
successful implementation of the new strategy, Gigaset AG now represents a
global company with a clear focus on telecommunication and accessories.
Development of revenues and results in Q2 2011
Sales revenues from continuing operations for the second quarter of 2011
came in at EUR 100.2m. The operative costs relative to revenues could be
further decreased, resulting in a significant year on year increase of
EBITDA by 66% to EUR 9.0m. The EBITDA margin for the continuing operations
improved by 4 percentage points to 9%.
Both for the EBIT and the net result, the company was able to record
positive numbers for the first time in the traditionally weak second
quarter. The Q2 EBIT improved by EUR 4.8m in a year on year comparison,
while the net result even increased by EUR 5.4m, leading to a net profit in
Q2.
Further improved net assets and financial position
Following the conversion of the convertible bond, the Group's equity base
was almost doubled and amounted to EUR 67.0m as of June 30, 2011. The
equity ratio improved - also as a consequence of the disposal of the last
non-core businesses - to 25%.
During the first six months of the year, the company was able to increase
its cash position by almost EUR 6m, to end the second quarter at EUR 42.5m
of cash and cash equivalents.
Excluding the effects of deconsolidation, the free cash flow amounted to
EUR 4.0m. In the first half of the year, the cash inflow from operating
activities amounted to EUR 4.9m. Combined with a cash outflow from
investing activities of EUR 3.0m, this led to a reported free cash flow of
comfortable EUR 1.9m.
Dr. Alexander Blum, CFO of Gigaset AG, is very pleased with this
development: 'By optimising our cost structure towards a sustainable
profitability, we have now finished our most important homework. With our
strengthened equity capital base, our low financial liabilities and a
comfortable cash position we can fully concentrate on the further
development of Gigaset AG. This includes, besides the development of
further organic growth sources, also acquisitions with a focus on our core
business.'
2011 Guidance confirmed and complemented
The executive board confirms its full year 2011 guidance. Based on the
already achieved revenues and taking into account the traditionally
stronger business development in the second half of the year, especially in
Q4, Gigaset AG expects to generate total revenues of EUR 540m and an EBITDA
of EUR 57m. This is complemented by an EPS guidance, namely an expected
basic EPS of EUR 0.40 for the full year 2011 (diluted EPS of EUR 0.36).
Gigaset AG, Munich, is a worldwide operating company in the
telecommunication and accessories sector. The company is a leading global
producer of cordless phones and Europe's market leader in DECT phones.
Internationally, the premium provider with 1,600 employees is represented
in more than 70 countries and is ranked in third place in its sector.
The Gigaset AG shares are traded in the TecDAX (Prime Standard) of the
Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004.
Further Informationen on the website: http://www.gigaset.ag
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444456-937
E-Mail: info@gigaset.com
End of Corporate News
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Language: English
Company: Gigaset AG
HofmannstraÃe 61
81379 München
Germany
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: klaus.franke@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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135224 11.08.2011
DGAP-News: Gigaset financial results Q2 2011: Executive Board confirms and complements 2011 Guidance
| Source: EQS Group AG