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ots Ad hoc-Service: euromicron AG
Euromicron increases net income by 42.7 per cent in the 1999 financial year
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euromicron AG reached a successful conclusion to the 1999 financial year with a 42.7% increase in net income for the year from DM 9 million to DM 12.9 million. The Chief Financial Officer, Mr. Peter Rau, expressed his great satisfaction at today's accounts press conference with the following comments: "By focussing on the technologies of the future in fibre optics and energy management, we have continued our successful course and exceeded our projections".
Earnings per share, based on annual financial statements which
were prepared for the first time in accordance with US-GAAP
accounting standards, increased by 34.5% from DM 2.06 to DM 2.77 per
share. At DM 283 million, Group sales were up 4.6% on the previous
year. The Chief Operating Officer, Karl-Heinz Däumler, made the
following comment on the publication of the 1999 figures: "We have
succeeded in securing leading technological positions in the growing
markets of fibre optics and energy management".
euromicron AG was able to consolidate its market position in 1999 through strategic acquisitions and was able to exploit a high level of synergies within the Group.
The acquisition of LOKAN data networks in Hanover and the establishment of the "euromicron systems" brand enabled euromicron AG to substantially strengthen its position in the field of Fibre Optics and Security Technology. The company generated sales of DM 86.5 million in this area, which represents a 46% increase on the previous year. At the same time, the EBIT for this period increased by 37.9% to DM 10.3 million.
Due to restraint in investment expenditures at the beginning of 1999 and delays in the invoicing and revenue recognition of major projects, sales in the Power Supply and Energy Management business unit fell slightly by 6% to DM 100.1 million. However, the fourth quarter of 1999 saw a record level of incoming orders. At the beginning of 1999, orders in hand were 122.8% up on the previous year at a level of DM 63.0 million. Results in this business unit did not fall to the same extent as sales. At DM 11.8 million, the EBIT was only 2.5% down on the previous year.
The acquisition of COM/Energy Technologies, Inc. (CET), in particular, has secured a leading technological position for euromicron in the area of Metering, Billing and Information Systems (MBIS) in the energy management market.
Despite an 8% drop in sales in the Testing and Control Engineering business unit, there was a 5.9% increase in profits in the last financial
year to DM 15.4 million. With a 16% profit to sales ratio, the niche- market strategy in the area of Testing and Control Engineering is an important source of earnings within the Group and plays an extremely important role in financing growth in euromicron's industries of the future.
The two Management Board members of euromicron, Mr. Rau and Mr. Däumler, are convinced that the positive trend of the previous financial year will be continued in the year 2000. As a result of greater concentration on the industries of the future, through further acquisitions and partnerships, through greater foreign expansion and consolidation of the companyns technological leadership in energy management systems, euromicron is well positioned to achieve further growth. For the year 2000, the Management Board anticipates further sales and income growth of around 20% on the previous year.
For further questions please contact:
euromicron AG Karl-Heinz Däumler Peter Rau Kennedyallee 97 a 60596 Frankfurt
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