DGAP-News: Augusta Technologie AG with successful start in Q 2012
(firmenpresse) - DGAP-News: Augusta Technologie AG / Key word(s): Quarter Results
Augusta Technologie AG with successful start in Q 2012
09.05.2012 / 08:12
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AUGUSTA reports successful first quarter of 2012 and confirms guidance for
2012
- Sales revenues at EUR 25.7 million, 5.4 percent over previous year
- Over proportional EBITDA growth to EUR 4.6 million (+15.5 percent),
high EBITDA margin of 18.1 percent
- No impairment of operations due to takeover bid by TKH Group
Munich, May 9, 2012 - Following up on the financial year 2011, AUGUSTA
Technologie AG (ISIN DE000A0D6612), continued its successful business
performance in the first quarter of 2012. Year on year, consolidated sales
revenues increased 5.4 percent to EUR 25.7 million. Thanks to innovative
and new products, the gross margin climbed to 49.1 percent (prior year:
48.6 percent). Earnings improved over proportionately to sales revenue.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
rose 15.5 percent to EUR 4.6 million. Accordingly, the EBITDA margin went
up to 18.1 percent, 1.6 percentage points above the prior-year value of
16.5 percent. The net income for the period from continued operations
(Vision, other divisions) increased 61.7 percent to EUR 2.7 million,
resulting in earnings per share of EUR 0.35 (prior year: EUR 0.22).
As of the end of March 2012, incoming orders amounted to EUR 27.9 million,
18.2 percent more than in the prior year. The book-to-bill ratio (incoming
orders to sales revenues) reached a value of 1.09. Orders on hand reached a
remarkable EUR 40.3 million, about 51.7 percent more than in the prior
year. 'Despite the difficult economic conditions, AUGUSTA has again
generated growth on our markets. In view of the excellent incoming order
volume in the first quarter and a well-filed order book, we expect positive
business performance to continue in the coming months', says Amnon Harman,
CEO of AUGUSTA.
The key balance sheet figures hardly underwent any changes compared to the
end of 2011. 'As of March 31, 2012, cash and cash equivalents were still at
a high level of EUR 64.3 million, and the net liquidity amounted to EUR
43.5 million', explains Berth Hausmann, CFO of AUGUSTA. At EUR 22.2
million, working capital showed a slight increase compared to the end of
the year. 'Due to the higher volume of orders on hand, we have slightly
increased our inventories in order to ensure quick deliveries in the coming
months', says Hausmann.
AUGUSTA confirms its annual forecast and anticipates consolidated sales
revenues ranging from EUR 100 to 110 million and EBITDA between EUR 16 and
20 million.
Public takeover bid by TKH Group
The TKH Group has submitted a voluntary public takeover offer for all
outstanding shares of AUGUSTA Technologie AG at a price of EUR 23.00 per
AUGUSTA share. 'The takeover process does not have any direct effect on our
business operations. We will continue to pursue our business activities as
an independent company until the bid and takeover process is finished',
explains Amnon Harman. The declared goal of the TKH Group is to merge
AUGUSTA's business activities with its own in order to further develop the
leading position of the AUGUSTA companies in specific market niches and to
supplement it with its own business activities. 'The announced bid by the
TKH Group documents the attractiveness of our company and proves the
success of our strategic realignment, which had started in late 2006. From
the current perspective, we consider the strategic opportunities with TKH
to be very attractive, and we believe that the proposed price of EUR 23.00
per AUGUSTA share is fair. The final review and evaluation will take place
after the publication of the proposal of TKH', says Harman.
Pursuant to Section 27 (1) sentence 2 of the German Securities Acquisition
and Takeover Act (WpÜG), the Managing Board and the Supervisory Board of
AUGUSTA are under the obligation to review the proposed price and the goals
and effects of the takeover on the company, the employees and the locations
and to issue a statement on this subject. In this connection, the
appropriateness of the bid price is also reviewed within the scope of an
independent fairness opinion.
AUGUSTA will publish the final statement of the Managing Board and
Supervisory Board after the proposal of the TKH Group is approved by BaFin
(German Federal Financial Supervisory Authority) and published. This is
expected to take place even before AUGUSTA's General Meeting on May 16,
2012.
Overview of cumulative figures as of March 31, 2012
In EUR millions Q1 2011 Q1 2012 ChangeISIN: DE000A0D6612
Sales revenues
Group 24.35 25.66 +5.4%
Vision 16.33 16.58 +1.5%
Other divisions 8.01 9.08 +13.3%
EBITDA
Group 4.01 4.64 +15.5%
Vision 4.84 5.00 +3.3%
Other divisions 0.47 0.61 +28.8%
Indicators
Incoming orders 23.57 27.85 +18.2%
Orders on hand 26.59 40.33 +51.7%
Net profit (continuing operations) 1.65 2.67 +61.7%
Earnings per share in EUR 0.22 0.35 +59.1%
Listing: Prime Standard of Deutsche Börse AG
AUGUSTA Technologie AG
Stefanie Zimmermann
Investor Relations&Corporate Communications
Willy-Brandt-Platz 3, D-81829 Munich
Tel: +49 (0)89 4357155-19
Fax: +49 (0)89 4357155-59
E-mail: investor-relations(at)augusta-ag.com
The Company
AUGUSTA Technologie AG is an integrated technology company with a focus on
niche markets of digital image processing and optical sensors.
Through its core Vision Technology segment, the company supplies digital
cameras and optical sensor systems for enhancing quality, safety and
efficiency. It develops and produces both standard products and
customer-specific systems for a broad range of uses in a number of sectors
including manufacturing, medical technology, multimedia, transport and
security technology. In its other divisions, AUGUSTA develops and sells
products for the power electronics and mobile measuring technology
segments. AUGUSTA is characterized by an international presence and
excellent customer service.
AUGUSTA generated consolidated sales revenues of EUR 101.3 million and
earnings before interest, taxes, depreciation and amortization (EBITDA) of
EUR 17.9 million in the 2011 fiscal year.
End of Corporate News
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09.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Augusta Technologie AG
Willy-Brandt-Platz 3
81829 München
Germany
Phone: +49-(0)89-4357155-19
Fax: +49-(0)89-4357155-56
E-mail: stefanie.zimmermann(at)augusta-ag.com
Internet: www.augusta-ag.com
ISIN: DE000A0D6612, DE0003705992
WKN: A0D661, 370599
Indices: CDAX, PRIMEALL
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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