EANS-Adhoc: adesso AG announces new sales and operating results records on the
basis of preliminary figures for 2011 proposal to increase the dividend by 20 %
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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07.03.2012
* Sales climb by EUR 20.3 million to EUR 106.0 million
* Record EBITDA of EUR 8.7 million, up 56 % year on year
* Earnings per share up 74 % to EUR 0.72 (previous year: EUR 0.42)
On the basis of the preliminary and unaudited figures, adesso AG exceeded the
forecast for 2011 announced with the half-year figures and also generated record
sales and operating results. Another good result for its company-produced
products business as well as stable IT services development enabled the company
to close the fourth quarter of 2011 with sales revenues of EUR 26.9 million,
EBITDA of EUR 1.5 million and earnings per share of EUR 0.17.
Overall, sales surpassed the EUR 100 million mark for the first time in 2011.
Sales revenues jumped by 24 % to EUR 106.0 million. More than 20 growth
percentage points were organic and generated by developing new business models
as well as by expanding existing business activities. Headcount as of the end of
the year increased by 16 % from 729 to 847.
Operating earnings (EBITDA) rose by 56 % to EUR 8.7 million in 2011, with the
operating margin increasing from 6.5 % to 8.2 %. The margin improved despite
substantially higher investments in company-produced products by increasing
capacity utilisation, higher license and maintenance sales as well as price
increases together with improved cost structures.
Consolidated earnings rose by 58 % to EUR 3.9 million and earnings per share
from EUR 0.42 to EUR 0.72. A 20 % increase in the dividend to EUR 0.18 per share
will be proposed to the General Meeting subject to consent by the Supervisory
Board.
Additional disclosures
Investments in the development of the company-produced product family
dynamic.suite encumbered EBITDA for 2011 with EUR 0.9 million and consolidated
earnings with EUR 0.8 million or EUR 0.13 per share. The partial write-down on
goodwill of adesso´s business in Austria in the second quarter of 2011 impacted
consolidated earnings by EUR 1.4 million or EUR 0.25 per share.
Cash and cash equivalents as of the reporting date amounted to EUR 22.5 million
(previous year: EUR 17.0 million). Regular repayments have reduced liabilities
to financial institutions from acquisition loans by EUR 2.1 million.
In 2012, adesso plans to grow both organically and through acquisitions. The
macroeconomic and sector environment is expected to remain positive, although
growth will be slower than in 2011.
Further disclosures on the forecast and the Annual Financial Statements will be
published with the presentation of the Consolidated Financial Statements and the
Annual Report as of 30 March 2012.
The Executive Board
Further inquiry note:
Martin Möllmann
Manager Investor Relations
Tel.: +49 231 930-9330
E-Mail: ir@adesso.de
end of announcement euro adhoc
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issuer: adesso AG
Stockholmer Allee 24
D-44269 Dortmund
phone: +49 231 930-9330
FAX: +49 231 930-9331
mail: ir@adesso.de
WWW: http://www.adesso-group.de
sector: Computing & Information Technology
ISIN: DE000A0Z23Q5
indexes: CDAX
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/general standard: Frankfurt
language: English