(DGAP-Media / 2015-02-27 / 20:33)
Financial Results 2014 (Annual Report)
Continuous improvement of profitability
- Slightly lower net sales of EUR 185.3 million
- Gross profit margin improved from 16.9% to 17.8%
- Double digit EBITDA-margin at 10.3% (2013: 9.6%)
- Promising exceet Secure Solutions segment increased net sales driven by
industrial M2M and e-health projects
Luxembourg, 27 February 2015 - 06.30 p.m. - As a direct result of exceet's
highly acknowledged cross-sectional technological expertise in its core
markets Health, Industry and Security, the company was able to extend the
share of higher margin business thus improving profitability further in
2014. This is reflected in the Gross Profit Margin of EUR 33.1 million or
17.8% (2013: EUR 32.3 million or 16.9%) and the EBITDA-Margin of EUR 19.0
million or 10.3% (2013: EUR 18.3 million or 9.6%). The group focused on its
unique selling points, e.g. the cross-sectional technology expertise, and
combined this strategy with the streamlining of the organization,
strengthening of the portfolio in the area of intelligent electronics and
concentration on promising niches. This enabled exceet to cope with an
overall challenging economic environment characterized by still subdued
investment activities. But comprehensive security know-how combined with
technological skills and top-level capacities in the field of
miniaturization makes exceet become more often the partner of choice for
the fast growing market of smart connected products.
Group sales in 2014 decreased slightly by 2.9%, reaching EUR 185.3 million
against EUR 190.8 million (organic decline -3.4%) for the same period of
the previous year. The development was positively affected by the exchange
rates of the Swiss Franc and the US-Dollar versus the Euro by which
consolidated net sales increased by 0.3%. On 31 December 2014 exceet's
order backlog amounted to EUR 87.3 million, 17.8% below the level as of 31
December 2013 (EUR 106.1 million). This relates into a book-to-bill ratio
of 0.90 (2013: 1.03) reflecting the currently very cautious customer
behavior on placing delivery orders out of existing framework agreements
and running development projects.
Electronic Components, Modules & Systems (ECMS) has strengthening its
market position by concentrating on projects with high end-to-end
responsibility. ECMS has won for example an industrialization and
production order from Biovotion AG for a new body wearable for
comprehensive patient monitoring. A final prototype and the certification
are likewise scheduled for beginning of 2015. Series production will start
in 2016. With this project ECMS will expand the portfolio in the field of
consumer healthcare and digital health and thereby consistently pursues the
strategy of steadily broadening and improving the range of products and
services in this segment.
ID Management & Systems (IDMS) will deliver the smart cards for the
Stuttgart Service project. The Stuttgart Service Card enables easy access
to mobility solutions and other services. By this project Stuttgart and the
region become SmartCity pioneers. IDMS is involved into a major part of the
project. The project will positively impact revenues in the upcoming
quarters. A positive impact on sales performance and cost reduction within
the IDMS segment is also expected due to the operational merge of Inplastor
Graphische Produkte GmbH into exceet card Austria GmbH at the end of 2014.
exceet Secure Solutions (ESS) has successfully implemented a major part of
the German health telematics infrastructure in 2014. Hereby, ESS
underlines its high suitability as a partner for upcoming projects, e.g.
the development of applications for the electronic health card (eGK). In
December 2014 exceet Group acquired 100% of shares in Lucom GmbH
Elektrokomponenten & Systeme, a leading provider of industrial routers
known for its strong portfolio of standardized products. Lucom will be an
integral part of ESS, which allows ESS to offer standard and customized
devices for IoT (Internet-of-Things) projects. This will positively impact
the sales cycle for new customers, due to lower initial costs for pilot
projects.
Outlook for 2015
In 2015 exceet will continue to be focused on achieving competitive
advantages in the field of intelligent electronics. Additionally, the
company is in the process of optimizing and expanding its sales force to
improve efficiency and extend the global reach. The management is confident
that in 2015 the combination of an optimized project mix and a further
streamlining of the organization will support growth and improving margins.
As the group has substantial operations in Switzerland, exceet has to face
some uncertainties concerning the impact of a stronger CHF against the EUR
in some of its markets. However, as a part of a set of measurements over
the last years to improve profitability, the group has realized flexible
and cost-efficient access to production capacities within its own European
network of plants, thus cushioning possible impacts of exchange rates on
costs. The top-line development will be positively affected by the
consolidation in EUR. On the other hand foreign exchange losses will be
generated out of the revaluation of the group internal financing procedures
thus affecting the financial result and net income of the group.
Greenock S.àr.l. a major shareholder of exceet Group SE had informed the
company in Q1 2014 that they are assessing their strategic options related
to their shareholding in exceet Group SE, including a possible disposal of
such shareholding to a third party. Pursuant to the updated information
provided by Greenock S.à r.l., no final decision has still been taken
regarding the form and timing of a potential transaction.
Annex: Performance and Structural Data full year 2014
Complete Annual Report 2014 and actual Investor Relation Presentation
available at www.exceet.lu
Please contact for further information:
Wolf-Günter Freese, CFO - Email: Investor.relations@exceet.lu
exceet Group SE
115 avenue Gaston Diderich
L-1420 Luxembourg
Phone +352 26 29 91 22
ISIN LU0472835155 (Public Shares), Regulated Market, Prime Standard,
Frankfurt/Main
ISIN LU0472839819 (Public Warrants), Regulated Market, General Standard,
Frankfurt/Main
exceet will announce first quarter results for 2015 on 4 May 2015 (after
closing of the market)
About exceet
exceet is an international technology group, which is specialized in the
development and production of intelligent, complex and secure electronics.
End of Media Release
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Issuer: exceet Group SE
Key word(s): Enterprise
2015-02-27 Dissemination of a Press Release, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Munich
End of News DGAP-Media
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328319 2015-02-27
(END) Dow Jones Newswires
February 27, 2015 14:33 ET (19:33 GMT)
