DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Quarter
Results/Quarter Results
Francotyp-Postalia Holding AG: FP Group off to good start in 2014 as
expected
28.05.2014 / 07:00
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Corporate News
FP Group off to good start in 2014 as expected
- Revenue increased by 2.1% to EUR 44.4 million in the first quarter of
2014
- EBITDA increases by 8.1% to EUR 6.7 million
- EBIT increases by 8.8% to EUR 3.7 million
- FP Group confirms its forecast for 2014
Birkenwerder, 28 May 2014. Francotyp-Postalia Holding AG, a multi-channel
provider for mail communication, succeeded once again in increasing its
revenue and earnings in the first quarter - traditionally a strong quarter
for the Group - despite the strong Euro. In the first quarter of 2014,
revenue increased by 2.1% to EUR 44.4 million. This growth was primarily
attributed to significantly higher recurring revenue, particularly in the
Mail Services and Software segments.
The higher total revenue and stable personnel costs decisively contributed
to increasing earnings power in the first quarter of 2014. The FP Group
generated EBITDA, operating earnings before interest, taxes and
depreciation, of EUR 6.7 million compared with EUR 6.2 million in the first
quarter of 2013. The EBITDA margin rose to 15%. As a result, EBIT rose,
despite higher amortisations, to EUR 3.7 million versus EUR 3.4 million in
the previous-year period. By contrast, the consolidated profit was down
from the previous year (EUR 2.2 million) to EUR 1.9 million due to a higher
tax result and negative financial result. However, free cash flow - the
balance of cash inflows from operating activities and cash outflows from
investing activities - improved significantly in the first three months of
2014 reaching a total of EUR 2.3 million compared with EUR 1.2 million in
the first quarter of 2013.
Outlook for 2014: FP Group anticipates profitable growth
In view of the anticipated strong start to the financial year, the FP Group
confirms its forecast for 2014 as a whole. The company expects revenue to
grow to at least EUR 173 million, EBITDA to increase to at least EUR 25
million and an improvement in EBIT to at least EUR 12 million. With regard
to free cash flow, the FP Group is anticipating a one-off negative value of
EUR -2 million. The reason for this is the high level of capital
expenditure expected in 2014.
Capital expenditure in 2014 primarily concerns investments in the rental
markets of the USA and France. As a result of ongoing decertification, many
companies in the USA are replacing their older franking machines with the
new PostBase. At the same time, the FP Group is expanding its business in
Europe's largest market for franking machines, namely France. With the
company also continuing to invest in the development of a new franking
system and machines for production, total investments in the current year
are expected to increase by approximately EUR 5 million to total EUR 19
million.
FP CEO Hans Szymanski explains: "In the current year, we will continue to
lay the foundation for long-term success. In Germany, we are optimising
sales activities with the Aufbruch 2015 initiative. At the same time, we
are firmly establishing our franking machine business in two large markets:
the USA and France. As a result, we are investing to a considerable extent
in future growth and, at the same time, plan to increase revenue and our
operating earnings. This demonstrates that the FP Group is well positioned
and still has potential."
Key figures at a glance:
<pre>
in EUR million Q1 2014 Q1 2013 Change
Revenue 44.4 43.5 2.1%
EBITDA 6.7 6.2 8.1%
EBIT 3.7 3.4 8.8%
Consolidated net income 1.9 2.2 -13.6%
Free cash flow 2.3 1.2 91.7%
Q1 2014 31.12.2013
Net debt 27.8 30.1 -7.6%
</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 2013 financial year, the company generated
revenue of EUR 168.9 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.fp-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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270813 28.05.2014
DGAP-News: Francotyp-Postalia Holding AG: FP Group off to good start in 2014 as expected
| Source: EQS Group AG