DGAP-News: euromicron AG / Key word(s): Interim Report/Quarter Results
euromicron AG confirms forecast despite slow start to fiscal year 2015
30.06.2015 / 07:00
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- Group sales remain stable at EUR 74.6 million
- EBITDA margin of 1.0% mainly due to one-time effects of severance
payments
- Correction of previous year's comparative figures for 2014 in the
interim financial statements for 2015
- Forecast for fiscal year 2015 confirmed due to positive market signals
Frankfurt/Main, 30 June 2015 - euromicron AG, a leading supplier of
complete infrastructure solutions for communications, transport, security
and data networks with a comprehensive network of subsidiaries in Germany
and at various European sites, published its figures for the first three
months of 2015 today. According to this information, sales remained at
roughly the same level as last year at EUR 74.6 million (Q1 2014: corrected
figure of EUR 75.7 million). Earnings before interest, taxes, depreciation
and amortization (EBITDA) totaled EUR 0.8 million for the first three
months of 2015 after a corrected figure of EUR 2.7 million for the same
period of the previous year. This decline can be attributed for the most
part to one-time effects from severance payments and higher structural
costs. The Group EBITDA margin accordingly amounted to 1.0% (Q1 2014: 3.5%
on the basis of corrected figures).
During the first quarter of 2015, new orders amounted to EUR 79.1 million
EUR (Q1 2014: EUR 98.7 million). The weak new orders can be attributed for
the most part to the fact that euromicron AG refrained from acquiring large
projects with low margins during the first quarter of 2015. At the same
time, new business for manufacturing operations remained subdued due to
shifts in orders in the first three months of 2015. Equity amounted to EUR
107.5 million as of 31 March 2015 and was thus EUR 2.9 million lower than
on 31 December 2014 (EUR 110.4 million). This difference was caused on the
one hand by the consolidated net loss for the period of the first quarter
of 2015. Furthermore, distributions from subsidiaries that were resolved in
the first quarter of 2015 that proportionally pertain to non-controlling
interests were reposted from equity to borrowed capital. This resulted in
an equity ratio of 37.2% following 38.4% as of 31 December 2014.
The results for the first quarter of 2015 as well as all of the other
interim results for 2015 include subsequent amendments of the comparative
figures from 2014 due to the corrections of errors in the valuation of
projects from previous years. Furthermore, the comparative figures from
2014 were corrected due to flat-rate accruals that were formed. As Bettina
Meyer, Board spokeswoman for euromicron AG, explained, "By making these
amendments, we have completely finished processing the accounting errors
that were made in the past. At the same time, by taking the respective
measures, we have made certain that we will not repeat these types of
mistakes in the future."
In light of technological change, the Board will continue to pursue the
strategic alignment that euromicron AG has been pursuing in recent weeks.
"In contrast to our previously sales-oriented strategy, our approach is now
clearly cash- and earnings-oriented. Our objective here is to generate
higher value creation throughout the group via synergy effects between
technology and system suppliers," Meyer notes.
Considering the positive market signals, the Executive Board of euromicron
AG sees good chances for the business to develop as planned in 2015.
"Despite the somewhat weak start to fiscal year 2015, we still expect to
see a stable business development and confirm our forecast for fiscal year
2015 as a whole. Considering the cyclical course of business, we expect to
be able to generate a good portion of our results in the fourth quarter due
to our project and customer structure," explains Jürgen Hansjosten, a
member of the Executive Board of euromicron AG. Euromicron AG expects
nearly the same volume of sales as in 2014 of between EUR 340 million and
EUR 360 million. The operative EBITDA margin is expected to continue to
remain at a stable level of between 6% and 8%, and between 5% and 7% taking
the effects of reorganization measures into consideration.
The complete report for the first quarter of 2015 is available as of today
on the company's website under euromicron.de in the section entitled
"Investor Relations/Financial Publications."
___________________________________________________________________
euromicron AG (www.euromicron.de) is an all-round solution provider for
communications, transport, data and security. euromicron's network
infrastructures integrate voice, video and data transport wirelessly, via
copper cable and by means of fiber-optic technologies. euromicron builds
leading applications such as security, control, healthcare and surveillance
systems on the basis of these cutting-edge network infrastructures. Founded
on its expertise as a developer and producer of fiber-optic components,
euromicron AG is a fast growing, highly profitable group that is listed on
the stock market, has a medium-sized character and focuses on operational
growth, integration, further market penetration, internationalization and
expansion.
euromicron AG
Investor & Public Relations
Zum Laurenburger Hof 76
60594 Frankfurt/Main
Phone: +49 69 631583-0
Telefax: +49 69 631583-17
E-mail: IR-PR@euromicron.de
ISIN DE000A1K0300
WKN A1K030
http://www.euromicron.de
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30.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: euromicron AG
Zum Laurenburger Hof 76
60594 Frankfurt am Main
Germany
Phone: +49(0) 69 631583-0
Fax: +49(0) 69 631583-17
E-mail: info@euromicron.de
Internet: www.euromicron.de
ISIN: DE000A1K0300
WKN: A1K030
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg,
Stuttgart
End of News DGAP News-Service
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373277 30.06.2015
DGAP-News: euromicron AG confirms forecast despite slow start to fiscal year 2015
| Source: EQS Group AG