Onex Reports Second-Quarter 2013 Consolidated Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/12/13 -- All amounts in U.S. dollars unless otherwise stated
Onex Corporation ("Onex") (TSX: OCX) today announced its consolidated financial results for the second quarter and six months ended June 30, 2013.
Onex' quarterly and full-year consolidated financial results do not follow any specific trends due to acquisitions and dispositions of businesses, changes in the values of its publicly traded and privately held operating companies and varying business cycles at its operating companies.
On a consolidated basis for the second quarter, revenues increased 10% to $7.7 billion compared to the same period of the prior year. The acquisitions completed in the last six months of 2012 contributed to this year-over-year revenue increase. Onex reported a consolidated net loss of $718 million compared to a net loss of $172 million in the second quarter of 2012. The primary driver of this change is an increase in the Limited Partners' Interest charge of approximately $650 million due to an overall increase in value of our operating companies.
On a consolidated basis for the six months ended June 30, 2013, revenues increased 8% to $14.9 billion consistent with the change in the quarter. The net loss for the period was $989 million compared to a net gain of $1 million for the six months ended June 30, 2012, which was impacted by the increase in the Limited Partners' Interest charge mentioned above.
Attached are the Unaudited Interim Consolidated Balance Sheets, Statements of Earnings, Statements of Cash Flows and information by industry segment for the quarter and six months ended June 30, 2013 and 2012 as prepared under International Financial Reporting Standards. The complete financial statements, including Management's Discussion and Analysis of the results, are posted on Onex' website, , and are also available on SEDAR at .
About Onex
With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as a substantial limited partner in its Funds.
Onex' businesses have assets of $45 billion, generate annual revenues of $36 billion and employ approximately 236,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at . The Company's security filings can also be accessed at .
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
Contacts:
Onex Corporation
Emma Thompson
Vice President, Investor Relations
416.362.7711
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Datum: 12.08.2013 - 15:09 Uhr
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