DGAP-News: Gigaset AG / Key word(s): Final Results
Gigaset AG: Gigaset increases EBITDA to just under EUR 51 million -
High profitability enables sustained investments in new growth
platforms
30.03.2012 / 07:30
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Gigaset increases EBITDA to just under EUR 51 million
High profitability enables sustained investments in new growth platforms
- Sales revenue in the Gigaset Group at EUR 520.6 million
- Sale of participating interests completed as planned
- EBITDA increased to EUR 50.9 million with consistent efficiency program
(2010: EUR 0 million)
- EBITDA margin rose to just under 10 percent
- Consolidated net profit of EUR 17.5 million (2010: minus EUR 100.6
million) underscores the success of focusing on the core business
- CEO Fränkl: 'The positive earnings are a strong basis to further
develop Gigaset over Internet-based communications solutions.'
Munich, March 30, 2012. Gigaset AG, one of the worldwide leading
manufacturers of cordless telephones and Europe's market leader in DECT
telephones, successfully completed focusing on its core business in fiscal
year 2011.
Sales revenues decreased as planned to EUR 520.6 million (2010: EUR 1,009.5
million) as a result of the announced sale of all participating interests
not belonging to the core business. In continuing operations, which
simultaneously represent the basis for the following fiscal years, the
Company earned EUR 458.6 million. Despite significant volatilities and
consumer restraint in important sales markets, Gigaset increased its
profitability to a net operating income (EBITDA) of EUR 50.9 million (2010:
EUR 0 million). An EBITDA margin of just under 10 percent was realized as a
result of a consistently implemented efficiency and cost-savings program.
This way, the Company was able to reduce, for instance, expenses for the
holding by 35 percent or EUR 8.4 million.
The EBIT increased to EUR 22.0 million (2010: minus EUR 86.8 million). As a
consequence, consolidated net profit was increased to EUR 17.5 million,
after the Company had to record a loss of EUR 100.6 million in the prior
year.
Free cash flow rose to EUR 22.5 million as of December 31, 2011 (2010:
minus EUR 41.6 million). The Gigaset Group's equity amounted to EUR 76.2
million on the reporting date. At 24.5%, the equity ratio more than doubled
compared to the prior year.
Dr. Alexander Blum, CFO of Gigaset AG: 'We increased our profitability
significantly, despite adverse market conditions. The Gigaset Group's focus
on communications technology is showing considerable success.' The Company
expects sales revenues for the current fiscal year to be at the level of
continuing operations in 2011, in which case the Company would exceed the
expectations for the market as a whole in its core business Cordless Voice.
Net operating income is not expected to reach the prior year's level, not
least as a result of the development of new growth segments. Nevertheless,
the Company expects free cash flow to be at least balanced. The beginning
development of new, fast-growing business segments will have a clearly
positive impact on sales revenue and net profit starting in 2014.
Consistent focus on core competencies
In the fiscal year just ended, Gigaset AG continued its consistent focus on
its core competencies. The participating interests that were no longer a
part of the core business, Carl Froh Group, Oxxynova Group and van Netten
Group, were sold already in the first half of the year.
In the Cordless Voice segment, the Group clearly held on to its market
position as number one in Europe over the competition.
Gigaset pro, the professional line for small and medium-sized enterprises
(SME), was continually expanded by new products after its market launch in
2011. Gigaset entered into distribution contracts with numerous sales
partners, including in Germany, Austria, France, the Netherlands, Italy,
and the United Kingdom. Negotiations are currently ongoing in other
countries and with other distributors.
Fränkl: Gigaset is using the trend toward Internet-based communications
solutions
Charles Fränkl, Chairman of Gigaset AG's Executive Board since January 1,
2012: 'Gigaset is healthy and profitable in its core business segments. On
this basis, we are pursuing two lines of attack: We are focusing worldwide
on regional markets with fast-growing middle classes; for example, Russia.
We will also develop new Internet-based growth platforms quickly and
strategically with the know-how of our excellent developers. Gigaset
orients itself consistently on the long-term market trends and the needs of
its customers.'
Gigaset AG, Munich, is a globally operating company in the area of
telecommunications and accessories. The Company is one of the worldwide
leading manufacturers of cordless telephones and Europe's market leader in
DECT telephones. The premium supplier ranks third with 1,900 employees and
a market presence in more than 70 countries.
Shares of Gigaset AG are traded in the TecDAX (Prime Standard) of the
Frankfurt Stock Exchange under the symbol 'GGS' (ISIN: DE0005156004).
You can find further information online under http://www.gigaset.ag
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444456-937
E-mail: info@Gigaset.com
Overview of key figures (in EUR million):
|[![CDATA[|[pre|]]]|]
2011 2010
Consolidated sales revenue 520.6 1,009.5
Sales revenue from continuing operations 458.6 503.7
Earnings before interest, taxes, depreciation and 50.9 0.0
amortization (EBITDA)
EBITDA margin (in %) 9.8 0.0
Earnings before interest and taxes (EBIT) 22.0 -86.8
Consolidated net profit 17.5 -100.6
Free cash flow 22.5 -41.6
Earnings per share (diluted) in EUR 0.35 -3.35
Earnings per share in continuing operations in EUR 0.41 -0.25
Total assets (reporting date Dec. 31, 2011) 311.4 345.6
Consolidated equity 76.2 35.0
Equity ratio (in percent) 24.5 10.1
Employees (reporting date Dec. 31, 2011) 1,875 2,333
|[![CDATA[|[/pre|]]]|]
End of Corporate News
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Language: English
Company: Gigaset AG
HofmannstraÃe 61
81379 München
Germany
Phone: +89444456937
Fax: +89444456930
E-mail: kerstin.diebenbusch@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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163140 30.03.2012
DGAP-News: Gigaset AG: Gigaset increases EBITDA to just under EUR 51 million - High profitability enables sustained investments in new growth platforms
| Source: EQS Group AG