Grünwald, March 27, 2023 – AURELIUS Equity Opportunities SE & Co. KGaA (AURELIUS; ISIN DE000A0JK2A8) publishes its Annual Report for the 2022 financial year. AURELIUS generated total consolidated revenues of EUR 3,108.2 million (2021: EUR 3,261.2 million). Annualized consolidated revenues from continued operations came to EUR 3,023.8 million (2021: EUR 2,541.4 million).

Operating EBITDA amounted to EUR 224.6 million in financial year 2022 (2021: EUR 249.7 million). The EBITDA of the combined Group amounted to EUR 284.1 million in financial year 2022 (2021: EUR 358.3 million). The difference from the previous year is mainly attributable to the lower gains on bargain purchases, which came to only EUR 1.2 million in financial year 2022 (2021: EUR 36.4 million). Gains on company exits declined from EUR 163.7 million in 2021 to EUR 100.9 million in the past financial year. The restructuring and non-recurring expenses incurred for reorganizing the portfolio companies amounted to EUR 69.5 million in financial year 2022 (2021: EUR 91.5 million). The net revaluation effect of the co-investments accounted for at equity amounted to EUR 27.1 million (2021: EUR 0 million).

At December 31, 2022, cash and cash equivalents amounted to EUR 331.5 million (December 31, 2021: EUR 444.0 million). This figure was largely influenced by cash outflows for investing activities, the dividend payment (EUR 41.5 million), and share buybacks (EUR 42.7 million).

In the current capital market environment, the company’s dividend strategy is largely based on value strategies originating in the United States, which prioritize share buybacks over dividends. The Management will propose to the annual general meeting that the company pays a dividend of EUR 0.50 per share for the 2022 financial year. After expiration of the current share buyback program, moreover, the company intends to launch another program for an amount of EUR 26 million (equal to approx. EUR 1.00 per share).

The Group’s net asset value (NAV) came to EUR 895.8 million at the end of financial year 2022 (December 31, 2021: EUR 1,014.7 million). This corresponds to a NAV of EUR 33.57 per share. The decrease from the previous year is mainly attributable to the incessantly tense geopolitical and global economic environment, which is manifesting in the form of sharply higher energy costs, supply chain challenges, and uncertainty on the part of market participants.

The AURELIUS portfolio companies have proved to be largely resilient and sturdy in a persistently volatile market environment. The operational closeness and support given by AURELIUS to its portfolio companies is paying off.

Key figures

(in EUR millions)	1/1 – 12/31/2021	1/1 – 12/31/2022
Total consolidated revenues	3,261.2	3,108.2
Consolidated revenues (annualized) 1,2	2,541.4	3,023.8
EBITDA of the combined Group	358.3	284.1
of which gains on bargain purchases	36.4	1.2
of which restructuring and non-recurring expenses	-91.5	-69.5
of which revaluation effect of co-investments accounted for at equity	-/-	27.1
of which gains on exits	163.7	100.9
Operating EBITDA of the combined Group	249.7	224.6
Consolidated profit 1	151.8	78.7
Group earnings per share (undiluted, in EUR)	4.86	2.99
Cash flow from operating activities 1	42.8	-41.5
Cash flow from investing activities 1	-8.7	2.8
Free Cashflow 1	34.1	-38.7
	12/31/2021	12/31/2022
Assets	2,281.2	2,185.8
of which cash and cash equivalents	444.0	331.5
Liabilities	1,688.7	1,611.2
of which financial liabilities	379.4	442.2
Equity 3	592.5	574.6
Equity ratio 3 (in %)	26.0%	26.3%
Number of employees at the reporting date	11,141	10,144

¹⁾ The prior-year consolidated statement of comprehensive income and consolidated statement of cash flows have been adjusted for comparison purposes in accordance with IFRS 5.
²⁾ From continued operations.
³⁾ Including non-controlling interests.