DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Quarter
Results/Quarter Results
Francotyp-Postalia Holding AG: FP Group: Development of new production
site shapes half-yearly report
25.08.2011 / 07:00
---------------------------------------------------------------------
Corporate News
FP Group: Development of new production site shapes half-yearly report
- Development of new production site in Wittenberge progressing according
to plan
- Implementation of measures at the provious production line in
Birkenwerder can now go ahead after the completion of the redundancy
scheme negotiations
- Restructuring costs of EUR 8.4 million in the first half of 2011
- EBITDA result before restructuring reaches EUR 12.3 million
Birkenwerder, 25 August 2011. Francotyp-Postalia Holding AG, the first
multi-channel provider for mail communication, is constructing a new
production line in Wittenberge, Brandenburg in the current financial year.
Manufacture of the new Phoenix franking system is scheduled to begin at the
new site from the first quarter of 2012. The new direction for production
and the associated discontinuation of production at the previous
Birkenwerder site dominate the 2011 half-yearly report.
Restructuring costs and higher personnel costs have meant that the
EBITDA result for the first half of the current financial year was EUR 3.9
million, compared with EUR 12.8 million in the same period of the previous
year. The development of the new production line and the impending closure
of the production site in Birkenwerder have resulted in restructuring costs
of EUR 8.0 million in the first half of 2011. Thereof, a provision of EUR
5.4 million was made for the redundancy scheme in the second quarter, which
comprises a total volume of EUR 7.5 million for the redundancy scheme. In
addition, the company had made a provision of EUR 0.3 million in the first
quarter 2011 for cost adjustments at its Dutch subsidiary. Thereby, the
restructuring costs for the first half-year sum up to EUR 8.4 million,
while EBITDA, adjusted for restructuring costs, therefore amounts to EUR
12.3 million. Owing to an increase in provisions, the companies'
consolidated net income before non-controlling interests in the first six
months of the year amounted to EUR -4.2 million, against EUR -0.8 million
in the same period of the previous year.
Growth in revenue of 22.6%
In the first six months of the current financial year, the FP Group
increased revenue to EUR 80.9 million, against EUR 66.0 million for the
previous year. This was largely due to the change in the reporting logic as
part of the new regulations for sales tax on postal services in Germany
that came into effect on 1 July 2010; this resulted in a positive revenue
effect of around EUR 11.6 million in the first half of 2011. At the same
time, the Group moved forward with its ongoing development into a complete
service provider. In March, the company acquired a majority stake in
Mentana-Claimsoft, which specialises in electronic signatures and is also a
member of the De-Mail project.
Development of new direction for production will pay off from 2012
This successful ongoing development has been a major contributing factor in
the FP Group reaffirming its forecast for 2011 as a whole. The company
expects a revenue corridor of between EUR 160 and EUR 165 million and an
EBITDA range of between EUR 25 and 27 million before restructuring costs.
However, on account of higher personnel costs, the FP Group anticipates
that the EBITDA result before restructuring costs will come in at the lower
end of this range of between EUR 25 and EUR 27 million. Hans Szymanski, CEO
of the FP-Group, explains: 'This restructuring is a measure of key
importance
in securing the future of the FP Group. It may impact our result in the
current financial year, but from next year onwards we will benefit from it
in the long term.'
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
The FP Group in Brief
Francotyp-Postalia Holding AG is the first multi-channel-provider provider
for mail communications. The FP Group's range of products and services
includes franking and inserting machines, the direct collection of business
mail to hybrid-mail and full digital mail solutions for private and
commercial users. Headquartered in Birkenwerder near Berlin, the Group's
wide product spectrum enables it to provide tailored mail management
services. With a corporate history that goes back over 85 years and local
branches in many industrialised countries, the FP Group currently holds
around 10% of the worldwide franking machine market. Today it is profiting
in all its segments from the increasing liberalisation of mail markets and
the trend for businesses to outsource their outbound mail processes to
professional service providers. Total revenue in financial 2010 came to
147.3 million euros. Worldwide, the Group employs over 1,000 people.
End of Corporate News
---------------------------------------------------------------------
25.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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: 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
---------------------------------------------------------------------
136852 25.08.2011
DGAP-News: Francotyp-Postalia Holding AG: FP Group: Development of new production site shapes half-yearly report
| Source: EQS Group AG