AURELIUS successfully concludes growth year 2008
- Sales rises to about 580 million euro
- EBITDA above 70 million euro
- Cash and equity almost doubled
Munich, 20 February 2009 – Munich-based industrial holding AURELIUS continued to grow profitably in fiscal year 2008. According to the preliminary figures released today sales from continued operations rose to about 580 million euro (previous year 266 million euro). Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to more than 70 million euro (previous year 64 million euro). Most notably, the operational proportion of earnings increased significantly. While in 2007 bargain purchase was still responsible for about 90 percent of EBITDA, its proportion of EBITDA decreased to about 20 percent or roughly 14 million euro in 2008.
The positive business development is also reflected in the financially sound situation of the company. Cash and cash equivalents as of 31 December 2008 increased to 73 million euro (previous year 39 million euro). Shareholders’ equity almost doubled to about 150 million euro (previous year 75 million euro) and thus is well above the market capitalization of AURELIUS AG of currently round about 100 million euro.
Dr. Dirk Markus, CEO of AURELIUS, sees the company well on track: “Despite a difficult economic environment, AURELIUS advanced significantly in 2008. Our operational and financial strength now gives us the opportunity to benefit from the current market. We want to keep growing in a cash flow positive and profitable manner and the current crisis provides us with optimal conditions for doing so.”.
The complete 2008 annual report as well as a detailed outlook on the expected performance for the current fiscal year will be published by the end of March.