AURELIUS remains on track for solid growth
- Group revenues of 624.5 million euros (+ 17 per cent in the first nine months)
- Operating Cash Flow of 31.2 million euros (previous year -37.3 million euros)
- Cash and cash equivalents of 162.1 million euros provide solid base for further growth
Munich, 24 November 2010 – The industrial holding AURELIUS AG (ISIN: DE000A0JK2A8) continues to grow in the first nine months of 2010. Group revenues increased by 17 per cent to 624.5 million euros (previous year: 532.8 million euros). These figures do not include the shipping company Peter Deilmann and their cruise liner MS DEUTSCHLAND whose closing took place on 5 October and the acquisition of the Danfoss Household Compressors Group concluded on 5 November 2010. As of 29 November 2010 the Danfoss Household Compressors Group will operate under the name of “Secop” and launch a completely new brand.
In the fourth quarter both groups will be included in the consolidated financial statement of AURELIUS AG for the very first time. Due to the acquisition of these companies as well as of the French ISOCHEM Group in March 2010 the annualised group revenues have clearly exceeded the one billion mark. With cash and cash equivalents of 162.1 million euros (31 December 2009: 155.6 million euros) and a constant equity ratio of 34 per cent compared to fiscal year 2009 AURELIUS has strong financial power for its further growth.
Earnings before interest, tax, depreciation and amortisation (EBITDA) totaled 50.7 million euros during the reporting period (previous year: 158.7 million euros) with their reduction mainly resulting from the lower earnings of the reversal of negative goodwill recognised on subsidiaries (“bargain purchase”) on a year-on-year comparison.
In the fourth quarter a considerably positive effect is expected due to the acquisition of the Danfoss Household Compressors Group. Furthermore, the current EBITDA already includes the negative one-off effects of 9.6 million euros (previous year: 11.0 million euros) caused by restructuring expenses from the portfolio companies. Operating cash flow rose to 31.2 million euros (previous year: -37.3 million euros) in the first nine months of 2010.