DGAP-News: Gigaset AG / Key word(s): Quarter Results
Gigaset AG starts the first quarter solidly
14.05.2012 / 07:30
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Gigaset AG starts the first quarter solidly
and gains new sales partners
- Consolidated sales revenue from continuing operations at the previous
year's level with a good EUR 112 million
- Adjusted EBITDA from continuing operations in the amount of EUR 10.9
million (Q1/2011: EUR 12.1 million)
- Eearnings per share from continuing operations at EUR 0.08
- Signing of new sales partnerships and exclusive sales agreements
- Confirmation of expected consolidated revenue from continuing
operations being on last year's level
- Key figures up to 2015 on the basis of the strategic expansion of the
business areas to be published with the half-year results
- CEO Charles Fränkl: 'Our core business Cordless Voice is stable and,
together with our sound financial position, will give us the
possibility to develop new internet-based growth platforms'.
Munich, May 14, 2012. Gigaset AG, a leading global supplier of
communications technology and Europe's market leader in DECT telephones
started the fiscal year soundly as expected. The Group also signed a new
sales partnership in the first quarter with a leading European hypermarket
retailer for Southern Europe as well as an exclusive sales agreement with
an important Northern European operator. This resulted in the further
consolidation of the Company's position as market leader in the area of
Cordless Voice.
Consolidated sales revenue from continuing operations remained around the
prior year's level with a good EUR 112 million (Q1/2011: EUR 115 million).
EBITDA in the first quarter was around EUR 10.7 million (Q1/2011: 14.4
million). The decrease can be attributed, among other things, to costs and
investments in new growth platforms. Adjusted for non-recurring effects,
EBITDA from continuing operations was EUR 10.9 million (Q1/2011: EUR 12.1
million). The adjusted EBITDA margin was thus 9.7 percent (Q1/2011: 10.5
percent). Consolidated profit from continuing operations increased by
approximately 30 percent in the reporting period to around EUR 3.9 million
(Q1/2011: EUR 3 million).
Eearnings per share (diluted) from continuing operations increased to EUR
0.08 (Q1/2011: EUR 0.06). The Gigaset Group increaed its equity ratio to
27.4 percent after 24.5 percent as of December 31, 2011. Free cash flow was
EUR -16.3 million (Q1/2011: EUR 2.1 million). This is mainly due to
seasonal factors, since in particular industry-specific trade liabilities
from the past Christmas shopping season were settled. In comparison to the
prior-year period, cash funds rose by almost EUR 9 million to EUR 48.3
million
Charles Fränkl took over as Chairman of the Executive Board in the
reporting period as of January 1, 2012, and reorganized the division of
responsibilities in the management board. Fränkl is responsible, among
other things, for Innovation & Strategy, Marketing, and Mergers &
Acquisitions. Dr. Alexander Blum heads, among other things, the Finance,
Legal and Human Resources departments. Maik Brockmann is responsible for
worldwide sales operations.
The Executive Board plans to present the key points of the Company's future
orientation during the annual shareholders' meeting on June 12, and also to
present the specific strategy through 2015 with the publication of the
half-year resultson August 8. Accordingly, numerous product innovations and
further developments will also be presented for the first time at the IFA
trade show in Berlin at the beginning of September 2012, showing the
strategic and evolutionary expansion of the company to new business areas.
One of the most recent Gigaset innovations on the market - the flagship
model SL 910 - will receive an innovation award from the Spanish economic
magazine Actualidad Económica. In addition, the SL 910 significantly
exceeded sales expectations in the reporting period.
Outlook
The further development in fiscal year 2012 will be driven mainly by the
possible effects of the financial crisis on the main sales market Europe
and the associated consumer climate as well as the volatile trend on the
currency markets.
The Company continues to expect sales revenues at the level of continuing
operations in 2011. Amdist a slightly receding market environment, Gigaset
thus anticipates growth above the level of the market as a whole. Net
operating income will not reach the prior year's level, not least as a
result of the development of new growth segments. The Company expects free
cash flow to at least break even for 2012 due to its stable business.
Charles Fränkl, Chairman of the Executive Board of Gigaset AG: 'Our core
business Cordless Voice is stable. Together with our sound financial
position, that gives us the necessary discretionary room for maneuver to
develop new web-based growth platforms for Gigaset and to supplement them
with specific strategic acquisitions.'
Gigaset AG, Munich, is a globally operating company in the area of
communications technology. The Company is Europe's market leader in DECT
telephones. The premium supplier ranks second with more than 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).
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444 456-937
E-mail: Kerstin Diebenbusch, info@Gigaset.com
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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169580 14.05.2012
DGAP-News: Gigaset AG starts the first quarter solidly
| Source: EQS Group AG