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 --------------------------------------------------------------------- - 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 --------------------------------------------------------------------- 30.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 373277 30.06.2015
DGAP-News: euromicron AG confirms forecast despite slow start to fiscal year 2015
| Source: EQS Group AG