DGAP-News: Gigaset AG / Key word(s): Preliminary Results
Gigaset AG publishes preliminary figures for the second quarter of
2012 - Revenues stable, EBITDA falls
27.07.2012 / 22:25
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Gigaset AG publishes preliminary figures for the second quarter of 2012 -
Revenues stable, EBITDA falls
Munich, July 27, 2012 - Due to ongoing market share gains, Gigaset AG
expects almost stable revenues of EUR 93.441 million (Q2 2011: EUR 95.371
million) from continuing operations in the second quarter of 2012 according
to preliminary calculations. Because of the previously announced
investments in new growth areas and increased costs due to the ongoing
strength of the U.S. dollar, the EBITDA is estimated to amount to only EUR
0.01 million in the second quarter. In the second quarter of 2011 the
EBITDA amounted to EUR 11.233 million. At the time, this was also
positively influenced by non-recurring effects. The free cash flow is
expected to amount to EUR -11.723 million in the second quarter of 2012 (Q2
2011: EUR 0.524 million).
Due to the ongoing Euro crisis, the related decrease in consumer spending,
and the Euro expected to remain weak, the company expects the following for
the entire year 2012:
- a decrease in revenues in the single-digit percentage range
- earnings before interest, taxes, depreciation and amortization (EBITDA)
significantly below that of the previous year in the single-digit
million range
- a negative free cash flow in the low double-digit million range
The reasons for this development are:
- In particular southern European countries, and thus important target
regions for Gigaset AG such as Italy and Spain, are particularly
strongly affected by the Euro crisis and the resulting decrease in
consumer spending. In the core market, Germany, consumer confidence is
beginning to worsen.
- The announced investments in new business areas and innovative products
as well as in the further expansion of market share will have a
negative effect on results during the transformation years 2012 and
2013.
- With the ongoing weakness of the Euro compared to the U.S. dollar, the
EBITDA is strongly negatively affected by exchange rate effects.
Gigaset AG will continue to develop better than the overall European market
and steadily increase its market share. Due to the current development, the
company will continue with the company restructuring previously announced
in the 'Gigaset 2015' strategy, to expand its leading position in its core
business, and expand its business model in the business customers and home
networks areas. The company again expects profitable growth during the
fiscal year 2014.
Gigaset AG will publish the full interim report for the second quarter of
2012 on August 8, 2012 as planned.
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 1,700 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: GGS (ISIN: DE0005156004).
Further information on http://www.gigaset.ag.
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel: +49 (0) 89 444456-937
Email: info@gigaset.com
Stefan Zuber
Corporate Communications
Tel: +49 (0) 89 444456-600
Email: info.presse@gigaset.com
End of Corporate News
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27.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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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179466 27.07.2012
DGAP-News: Gigaset AG publishes preliminary figures for the second quarter of 2012 - Revenues stable, EBITDA falls
| Source: EQS Group AG