Aurelius Group increased its total consolidated revenues in the first half of 2015 by 16 per cent to EUR932.7 million (first half of 2014: EUR804.0 million).
On an annual basis, consolidated revenues reached EUR2,085.5 million – an increase of 28 per cent – and thus exceeded EUR2 billion for the first time.
The Group’s positive performance in the first half of 2015 was reflected in a 22 per cent increase in operating EBITDA to EUR62.6 million (first half of 2014: EUR51.2 million). Aurelius investee companies SECOP, the Berentzen Group, Scholl Footwear, and the Special Chemicals segment were particularly strong contributors to this growth. At EUR108.6 million, Aurelius’s total EBITDA in the first half of 2015 almost matched the previous year’s record high (first half of 2014: EUR111.5 million), despite the Group making none of the disposals of equity investments that provided a EUR32 million boost to the corresponding 2014 figure.
Two new businesses were successfully acquired in the first half of 2015: the European business of Tavex Group, a producer of high quality denim fabrics for prestigious jeans manufacturers in Southern and Central Europe, and the solid board and graphic board operations of the Smurfit Kappa Group (now Solidus Solutions). These have been added to by three further acqusitions already completed in the current third quarter: Regain Polymers, the leading British recycler of hard plastic waste; Transform Medical, the UK's leading supplier of surgical and non-surgical cosmetic procedures; and the European Crafts business of the British Coats Group (announced in February). In addition, in June 2015 Aurelius completed the full acquisition of Getronics by purchasing the remaining 21.9 per cent of the international IT consulting firm’s share capital from Dutch Royal KPN.
The Net Asset Value of the Group entities increased by 3.8 per cent to EUR1,193.7 million compared to the end of fiscal year 2014 (December 31, 2014: EUR1,150.6 million), in spite of the distribution of EUR62.8 million in dividends in the intervening six-month period.
Dr Dirk Markus (pictured), Chief Executive of Aurelius Group, says: “We are delighted to be announcing these strong half-year numbers as Aurelius Group continues to grow and return value to its investors. These results underscore how, through the provision of specialist operative guidance, Aurelius is able to facilitate sustainable growth and value creation in its investee companies. The five promising new deals completed this financial year to date represent a continuation of Aurelius’ ongoing focus on corporate carve-outs or companies in diverse and often complex situations. We feel positive about the next six months; our deal pipeline, both on the buy-side and sell-side, remains busy across the UK, German, Spanish and Swedish markets.“
