(DGAP-Media / 08.11.2013 / 08:14)
Press Release
exceet improves EBITDA-performance by 22.6%
- Q3 2013: EBITDA Margin of 12.1% (Q3 2012: EBITDA Margin 10.6%)
- Strong cash position of EUR 26.1m supports pleasant Net Debt/EBITDA
ratio of 0.7
- Infrastructure investment: New facility in Berlin with state-of-the art
technology for high end-products
- Outlook for the Group remains promising
Revenue Development
Revenue of the first 9 months 2013 reached EUR 141.8m (9M 2012: EUR 138.2m
/ +2.5%). The revenue in Q3 2013 amounted to EUR 50.9m against EUR 47.7m in
Q3 2012 representing an increase of 6.9%. The organic growth accelerated to
+7.9% during the quarter (from +1.9% in Q2). The upturn recorded in Q2 was
confirmed and even exceeded in Q3.
EBITDA Development
exceet's key focus on high margin innovative products and solutions in the
Health, Industry and Security sectors led to a significantly higher EBITDA
of EUR 14.4m (9M 2013) in comparison to EUR 11.7m (9M 2012) showing an
increase of 23.2%. This results in an EBITDA margin of 10.1% for the first
9 months of 2013, against 8.4% in the same period of the previous year. No
non-recurring items were recorded year-to-date 2013.
In Q3 2013, the Group managed to improve its EBITDA performance by 22.6%
compared with the same period last year. EBITDA in Q3 2013 amounts to EUR
6.2m (EBITDA Margin 12.1%) compared to EUR 5.0m (EBITDA Margin 10.6%) in Q3
2012.
Net Income and Earnings per Share
The net income of exceet Group has improved from EUR -0.3m (9M 2012) to EUR
7.6m (9M 2013) driven by the improvement of the operational EBITDA by EUR
+2.7m and the gain in financial instruments with a positive effect of EUR
+3.8m caused by the revaluation of the public warrants. The earnings per
share (EPS) reached EUR 0.37 (9M 2013) in comparison to EUR -0.01
(9M 2012) per class A share.
Order Intake
The volume of newly generated orders for the Group reached EUR 149.5m in
the first nine months of the current year 2013 which is 8.3% above the
comparable period of last year. With a Book-to-bill ratio of 1.1 the Group
is well set for future growth.
Cash Development
The improved EBITDA performance and an active management of the net working
capital, generated free cash flow in the amount of EUR 1.4m compared to EUR
-13.0m in the same period 2012. The net debt position was reduced to EUR
13.4m compared to EUR 17.4m in the prior year period. With a cash position
of EUR 26.1m the Group is well prepared to strengthen organic and
acquisition driven growth.
Segment Reporting
Electronic Components, Modules & Systems (ECMS)
Increasing customer demand for complex electronics in the field of
therapeutic devices, implants, highly miniaturized printed circuit boards
and products requiring high-precision placement of optical components led
to an increase of revenue in this segment.
In the Industry market sector, exceet provides scalable solutions for
machine specific customized control panels for the capital goods industry,
e.g. industrial vending machines.
In the Health market sector customer demand for active implantable medical
devices is addressed by exceet's offering of high-reliability,
ultra-miniaturized systems for maximum patient comfort. exceet convinces
with value added competences in product design, miniaturization of
electronics, fulfilment of maximum quality requirements at FDA level and
its life cycle management.
For exceet's high end electronic solutions, precision with zero tolerance
is a must. In order to meet this fundamental necessity, exceet further
expanded the development and production capacity in Berlin. Highly
automated assembly lines, development, engineering and administration are
located in a 6,200 m2 competence centre, which started its operation in
August 2013. The state of the art facility fulfils the highest clean room
requirement which further enhances the ability of exceet to develop and
produce innovative products and solutions.
ID Management & Systems (IDMS)
exceet has won in Q3 2013 a large order from one of the leading loyalty
solution provider. This order will have significant impact on the revenue
and profitability situation in the coming quarters.
The projects in the transport sector are driven by global urbanization
where an increased utilization of public transport in urban areas can be
seen. This leads to security issues due to fraud and fare dodging. exceet
provides contactless smart cards for payment and access to transportation
systems which fulfil highest security standards in data management and data
transfer.
Sales improvements are expected for Q4 2013 due to the winter season demand
for IDMS products in the market segments Loyalty (e.g. gift cards) and
Access (e.g. ski pass cards).
Embedded Security Solutions (ESS)
The ESS segment continues to focus on security solutions utilizing the
competences and experiences of exceet's other segments.
exceet's Machine-to-Machine (M2M) solutions are operated within the ESS
segment. These solutions allow customers to exchange information quickly,
securely and at low cost, irrespective of location. Organisations adopting
exceet's M2M solutions take advantage of this technology to optimize their
business processes or use it to develop new business models. exceet is a
full-service provider of one-stop solutions. The Group provides
customized hardware, connectivity tailored to the customer' specific
requirements, as well as the integration of the data into the client's
applications and business processes. In this field exceet has signed a
major contract with one of the largest suppliers of diagnostic systems.
Outlook
The outlook for the innovation and technology orientated Group remains
promising. exceet is confident to further improve its EBITDA performance.
The full report for the second quarter can be accessed here: www.exceet.ch
exceet is an international technology group specialized in the development
and manufacturing of intelligent, mission critical and secure electronics
with small and mid-sized volumes. The group provides world-wide added value
solutions and distinguishes through its technical skill set in embedded
intelligent electronics with a leading position in the Health, Industry &
Security markets. exceet consists of several flexible key manufacturing
sites and technical sales & development centres in the heart of Europe to
ensure innovative solutions, smooth and close communication and attractive
time-to-market for the customer.
Contact Information:
exceet Group SE
115, avenue Gaston Diderich
L-1420 Luxemburg
Investor.Relations@exceet.lu
ISIN LU0472835155 (Publikums-Aktien), Regulierter Markt, Prime Standard,
Frankfurt/Main
ISIN LU0472839819 (Publikums-Warrants), Regulierter Markt, General
Standard, Frankfurt/Main
End of Media Release
=--------------------------------------------------------------------
Issuer: exceet Group SE
Key word(s): Enterprise
08.11.2013 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------
Language: English
Company: exceet Group SE
114, avenue Gaston Diderich
L-1420 Luxemburg
Grand Duchy of Luxembourg
Phone: +352 2600 3181
Fax: +352 2600 3133
E-mail: info@exceet.ch
Internet: www.exceet.ch
ISIN: LU0472835155, LU0472839819
WKN: A0YF5P, A1BFHT
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in München
End of News DGAP-Media
=--------------------------------------------------------------------
238752 08.11.2013
(END) Dow Jones Newswires
November 08, 2013 02:14 ET (07:14 GMT)
