DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Half Year
Results/Half Year Results
Francotyp-Postalia Holding AG: FP Group increases revenue and
operating earnings again in second quarter
28.08.2013 / 07:09
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Corporate News
FP Group increases revenue and operating earnings again in second quarter
- Revenue rises 2.6% to EUR 42.0 million as against same quarter of
previous year
- EBITDA improves by 18.0% to EUR 5.3 million incl. costs of EUR 0.5
million for provisions in connection with the change in the Management
Board
- Company confirms forecast for year as a whole
Birkenwerder, 28 August 2013. Francotyp-Postalia Holding AG, the first
multi-channel provider for mail communication, continued its profitable
growth in the second quarter of 2013: Revenue climbed by 2.6% to EUR 42.0
million after EUR 40.9 million in the same quarter of the previous year.
This growth results primarily from higher recurring income and the strong
demand for the new PostBase franking system. Revenue for the first half of
the year improved to EUR 85.5 million as against EUR 82.7 million in the
first six months of 2012.
Significantly higher EBITDA margin in first half of 2013
Since the start of the second quarter of 2012, PostBase and other franking
systems have been produced at the new production site in Wittenberge. Its
greater efficiency allowed an improvement in EBITDA in the second quarter
of 2013 as well. The FP Group's EBITDA climbed by 18.0% to EUR 5.3 million
as against EUR 4.5 million in the same quarter of the previous year.
Adjusted for the cost of provisions in connection with the change in the
Management Board, EBITDA amounted to EUR 5.8 million. EBITDA for the first
six months rose to EUR 11.5 million as against EUR 8.6 million in the
previous year. The EBITDA margin improved from 10.4% to 13.5%.
EBIT for the first half of 2013 increased to EUR 5.9 million after EUR 4.0
million in the same period of the previous year. In the second quarter of
2013, however, it was up only slightly at EUR 2.5 million after EUR 2.3
million in the second quarter of 2012, as depreciation and amortisation
increased by EUR 0.6 million to EUR 2.8 million in the same period in line
with planning. In particular, this was due to higher amortisation on
capitalised development projects. At the same time, the FP Group also
posted higher tax expenses in the second quarter of 2013. Consolidated net
income was therefore on par with the same quarter of the previous year at
EUR 1.0 million.
By contrast, consolidated net income climbed from EUR 1.7 million to EUR
3.2 million in the first half of 2013. Earnings per share rose to EUR 0.21
in the first six months of 2013 as against EUR 0.11 in the first six months
of 2012. The FP Group also saw a significant improvement in free cash flow,
the net total of cash from operating activities and cash used in investing
activities. The free cash flow in the first half of the year was EUR -0.1
million as against EUR -6.0 million in the same period of the previous
year.
FP Group confirms revenue and earnings forecast for 2013
In light of its good operating performance in the first half of 2013, the
FP Group is confirming its forecast for the year as a whole: The company is
anticipating revenue of at least EUR 168 million, EBITDA of at least EUR 22
million and EBIT of at least EUR 9 million. 'We are successfully
implementing our strategy step by step. The launch of PostBase in our
established markets is going very well. We can begin the marketing of new
franking machines in countries such as Russia and India. There are future
growth prospects here. And corporate interest in the field of digital
communication is also clearly on the rise,' explained FP's CEO Hans
Szymanski. Szymanski believes that the company is on a good course for the
medium term: 'We still have potential in both revenue and earnings. For
2015 we are aiming for revenue of at least EUR 178 million and EBITDA of at
least EUR 30 million.'
Overview of figures for the quarter:
<pre>
EUR million Q2 2013 Q2 2012 Change
Revenue 42.0 40.9 +2.6%
EBITDA 5.3 4.5 +18.0%
EBIT 2.5 2.3 +10.5%
Consolidated net income 1.0 1.0 -2.0%
Earnings per share (EUR) 0.07 0.07 0.0%
</pre>
Overview of figures for first half of year:
<pre>
EUR million H1 2013 H1 2012 Change
Revenue 85.5 82.7 +3.3%
EBITDA 11.5 8.6 +34.0%
EBIT 5.9 4.0 +47.1%
Consolidated net income 3.2 1.7 +86.5%
Earnings per share (EUR) 0.21 0.11 90.9%
Free cash flow -0.1 -6.0 n/a
</pre>
Contact
Francotyp-Postalia Holding AG
Corporate Communications
Sabina Prüser
Tel: +49 (0)3303 525 410
Fax: +49 (0)3303 53707 410
E-mail: s.prueser@francotyp.com
About Francotyp-Postalia Holding AG
The FP Group is the first multi-channel provider for mail communication.
The globally active company offers the entire range of products and
solutions for business and private customers. In addition to standard
machines for franking and inserting mail, its offering includes services
such as the collection of business mail and innovative software solutions
such as the fully electronic letter. The FP Group, based in Birkenwerder
near Berlin, can therefore provide tailored multi-channel solutions. The
Group currently operates its own branches in a number of industrialised
countries and holds a global market share in franking machines of around
10%. With a history dating back 90 years, the FP Group today benefits
across all markets from the increasing liberalisation of postal markets and
the readiness of companies to outsource their business mail to professional
service providers. In the 2012 financial year, the company generated
revenue of EUR 165.6 million. The FP Group employs around 1,100 people
worldwide.
End of Corporate News
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Language: English
Company: Francotyp-Postalia Holding AG
Triftweg 21-26
16547 Birkenwerder
Germany
Phone: +49 (0)3303 525 777
Fax: +49 (0)3303 53 70 77 77
E-mail: ir@francotyp.com
Internet: www.francotyp.com
ISIN: DE000FPH9000
WKN: FPH900
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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227789 28.08.2013
DGAP-News: Francotyp-Postalia Holding AG: FP Group increases revenue and operating earnings again in second quarter
| Source: EQS Group AG