EQS Group-Ad-hoc: Accu Holding AG / Key word(s): Final Results
Accu Holding AG: Preliminary Fiancial Results 2015
21.04.2016 / 17:34
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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NOT FOR DISTRIBUTION IN THE UNITED STATES, UNITED KINGDOM OR THE EUROPEAN
ECONOMIC AREA
Accu Holding AG: Preliminary Financial Results 2015(unaudited)
-Sales of 158,5m with an EBITDA of 17,7m and net income of 3,1m
-Request for extension of deadline for publication of annual report submitted to
SIX
Emmenbrücke, April 21st 2016 - Based on preliminary and unaudited results, Accu
Holding AG (Accu) closed its financial year 2015 with a consolidated turnover of
CHF 158,5 million which is an increase of 19% versus previous year's sales of
CHF 133,2 million. Operating result on EBITDA-level increased to CHF 17,7
million (2014: EBITDA 7,8 million) resulting in an EBITDA margin of 11,1% (2014:
5,8%). Net income reached CHF 3,1 million (2014: 2,1 million). Further details
can be found in the attached overview of the unaudited financial statements.
Due to the impact on Accu of the ongoing investigation against the former
Chairman of the Board of Accu by the public prosecutor office of the Canton of
Zurich on the basis of possible offences against property (see press release
April 11th 2016), supporting documents requested during the audit process cannot
be presented. Accu has therefore submitted to SIX Exchange Regulation a request
for extension of the deadline to publish its annual report by the end of April.
The decision on the request is still pending.
Contact:
Andreas Kratzer
Accu Holding AG
Gerliswilstrasse 17
6020 Emmenbrücke
a.kratzer@accuholding.ch
Telefon +41 44 318 88 00
Consolidated Financial Statements as of December 31, 2015 and 2014
Consolidated Balance Sheet
All amounts In TCHF 2015 2014
ASSETS Notes
Current assets
Cash and cash equivalents 1 3'538 4'419
Trade receivables 2 35'547 31'770
Other receivables 3 5'570 6'999
Inventories 4 17'170 32'763
Accrued income 5 249 1'202
Total 64'155 44 % 77'153 43 %
NON-CURRENT ASSETS
Property, plant and equipment 7 61'897 70'851
Financial assets 6 28 188
Intangible assets 8 18'604 27'571
Deferred taxes 20 927 1'709
Total 81'456 56 % 100'319 57 %
Total assets 145'611 100 % 177'472 100 %
LIABILITIES AND EQUITY
Current liabilities
Financial liabilities and lease liabilities 11 27'218 43'733
Trade liabilities 40'652 53'153
Other liabilities 9 16'011 21'354
Accrued liabilities and deferred income 10 1'585 1'557
Short-term provisions 12 647 354
Total current liabilities 86'113 59 % 120'151 68 %
Non-current liabilities
Finacial liabilities and lease liabilities 11 18'856 25'995
Other non-current liabilities 540 3'930
Non-current provisions 12 1'871 1'931
Total non-current liabilities 21'267 15 % 31'856 18 %
Total liabilities 107'380 152'007
Equity
Share capital 26'336 14'744
Capital reserves 4'219 1'040
Retained earnings 4'559 7'554
Profit for the year 3'117 2'127
Total equity 38'231 26% 25'465 14 %
Total liabilities and equity 145'611 100% 177'472 100 %
Consolidated Income Statement for 2015 and 2014
All amounts in TCHF 2015 2014
Notes
Net Sales 13 158'528 132'942
Other operating income 14 8'296 1'917
Inventory changes 3'268 88
Cost of goods sold -106'295 -100'826
Personnel expenses -23'357 -16'232
Property expenses -894 -558
Selling expenses -7'193 -4'156
Administrative expenses -4'540 -1'762
Other operating expenses -9'699 -3'661
Depreciation and amortization -5'415 -2'622
Operating profit 12'332 5'130
Financial income 15 688 1'065
Financial expenses 16 -3'986 -2'610
Profit before non-operating items 9'034 3'585
Non-operating profit/loss 17 -235 -85
Extraordinary income 18 813
Extraordinary expenses 19 -2'642 -1'207
Earnings before tax 6'157 3'106
Taxes 20 -3'040 -979
Net income 4'117 2'127
Consolidated Statement of Changes in Equity
Amounts in TCHF Share capital Capital reserves Retained earnings and
net income Total equity
As of 01.01.2014 12'600 202 8'303
21'105
Share capital increase 2'144 1'072 -
3'216
Costs of capital increase -234 -
-234
Badwill * 305
305
Translation difference -1'054
-1'054
Net income - - 2'127
2'127
As of 31.12.2014 14'744 1'040 9'681
25'465
Share capital increase 11'592 3'859
15'451
Costs of capital increase -680
-680
Translation difference -5'122
-5'124
Net income 3'117
4'064
As of 31.12.2015 26'336 4'219 7'676
39'176
*The badwill from the previous year was a result of the acquisition of the Nexis
Group. The badwill in 2014 arose as a result of the purchase price adjustment
for RCT. CHF 264,000 of the total of CHF 569,000 was recognized in the income
statement with the remaining goodwill amount and the difference was charged to
equity.
Sales by segment
Net sales by segment
2015 2014
By division
Division Industrial Yarns
100'450 111'478
in tons
31'831 28'354
- Cost of goods sold*
76'898 -87'853
- Operating expenses
16'408 -17'462
EBITDA
7'144 6'597
Division Surface technology**
57'281 21'900
- Cost of goods sold*
-26'576 -12'922
- Operating expenses
-23'898 -7'052
EBITDA
6'799 1'140
Corporate & other revenues*
9'093 1'012
- Corporate & other costs
-5'289 -997
EBITDA
3'804 15
*including inventory changes
**including Cieffe Group as of 1.1.2015 as well as one-time effects of priour
year adjustments in the amount of CHF 3,98 million
Sales by Region
Geographical split
Switzerland 4'095 5'297
Germany 48'874 39'514
Italy 14'030 8'415
Czech Republic 11'242 11'303
Iberien 9'470 6'231
USA 9'446 8'428
Hungary 8'462 11'784
Norway 8'178 5'389
France 7'434 9'647
England 6'088 6'855
Other Europe and rest of world 31'209 31'699
Sub-total 158'528 132'942
Other operating income 8'296 1'917
Total 166'824 134'589
Accu Holding AG - Company Profile
The Accu Holding AG is listed on the SIX Swiss Exchange with its headquarter in
Emmenbrücke/Lucerne. It focuses on the two business areas 'Industrial Yarns' and
'Surface Technology' and investing in leading technology companies that operate
in attractive market niches in Europe, Asia and America. Industrial yarns
encompasses the development and manufacturing of yarns based on polymer and
polyamide. These yarns are used in applications such as mechanical rubber goods
(MRG) such as conveyor belts, hoses and transmission belts, as well as for the
production of ropes and nets used for example in the manufacture of airbags and
tires. The business unit of surface technology includes the equipment
manufacturer of heat treatment and coating equipment and the operation of heat
treatment shops and high-tech thin-coating centres of the latest generation.
These high-quality products are manufactured in Europe and the US for niche
markets in the automotive, aerospace, medical, petroleum, process and
manufacturing industries.
Legal Disclaimer
The economic projections and predictions contained in this information relate to
future facts. Such projections and predictions are subject to risks,
uncertainties and changes which cannot be foreseen and which are beyond the
control of Accu Holding AG. Accu Holding AG is therefore not in a position to
make any representations as to the accuracy of economic projections and
predictions or their impact on the financial situation of Accu Holding AG or the
market in the securities of Accu Holding AG.
This document does not constitute an offer or invitation to subscribe for or
purchase any securities. It is not being issued in countries where the public
dissemination of the information contained herein may be restricted or
prohibited by law. In particular, this document is not being issued in the
United States of America and should not be distributed to U.S. persons or
publications with a general circulation in the United States. Any non-compliance
with such restrictions may result in a n infringement of U.S. securities laws.
Securities of Accu Holding AG("Company")are not being publicly offered outside
of Switzerland. In particular, the securities of the company have not been
registered under the U.S. securities laws and may not be offered, sold or
delivered within the United States or to U.S. persons absent the registration
under or an applicable exemption from the registration requirements of the U.S.
securities laws. This document does not constitute a prospectus according to
652a or article 1156 of the Swiss Code of Obligations or article 27et seq. of
the Six Swiss Exchange listing rules.
This document is only directed at (i) persons who are outside the United Kingdom
or (ii) to investment professionals falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the
"Order") or (iii) high net worth entities, and other persons to whom it may
lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order
(all such persons together being referred to as "Relevant Persons"). The
securities are only available to, and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such securities will be engaged in only
with, Relevant Persons. Any person who is not a Relevant Person should not act
or rely on this information or any of its contents.
End of ad hoc announcement
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Additional features:
Document:http://n.eqs.com/c/fncls.ssp?u=GYWXYPHPCD
Document title: FS 2015
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21.04.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
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The issuer is responsible for the contents of the release.
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Language: English
Company: Accu Holding AG
Gerliswilstrasse 17
6021 Emmenbrücke
Switzerland
Phone: +41 44 318 88 00
Fax: +41 44 318 88 02
E-mail: info@accuholding.ch
Internet: www.accuholding.ch
ISIN: CH0001366332
Valor: 136633
Listed: Foreign Exchange(s) SIX
End of News EQS Group News Service
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