The Aurelius Group started the 2016 financial year very successfully with total consolidated revenues for the first quarter of 2016 increasing by 58 per cent year-on-year to EUR686.4 million (Q1 2015: EUR433.9 million).
At EUR2,640.6 million, consolidated revenues on an annual basis exceeded the prior-year figure by 52 per cent (Q1 2015: EUR1,735.6 million).
EBITDA for the combined group increased significantly in the first quarter of 2016 to EUR101.2 million (Q1 2015: EUR15.8 million). This figure includes income from the sale of Group entities in excess of the carrying amount of EUR57.6 million (Q1 2015: EUR0 million) from the sale of the HR services provider fidelis HR. In addition, it includes income from the reversal of negative goodwill from the capital consolidation ("bargain purchase") from the acquisitions of Swiss Valora Trade (since rebranded to Conaxess) and the business activities of the Reuss-Seifert & Hammerl Group, which were completed on 1 January 2016, to the amount of EUR27.3 million (Q1 2015: EUR0 million).
As there were no business acquisitions or sales in Q1 2015, there was no income from the reversal of negative goodwill from the capital consolidation ("bargain purchase"), nor any income from the sale of equity investments. Restructuring costs and non-recurring charges for the reorientation of Group entities decreased to EUR8.2 million during the reporting period (Q1 2015: EUR10.9 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) for the combined group was EUR24.5 million in the first quarter of 2016 (Q1 2015: EUR26.7 million).
As a result of the successful exits from fidelis HR and the Berentzen Group, the Executive Board and Supervisory Board of Aurelius decided at the end of April 2016 to propose a total dividend distribution of EUR2.45 per share at the Annual General Meeting, which will take place on June 9, 2016. In addition to the base dividend of EUR0.90 (prior year: EUR0.80), a special dividend of EUR1.55 (prior year: EUR1.20) is to be proposed. This would amount to a record distribution of EUR76.6 million (prior year: EUR62.8 million).
Cash and cash equivalents amounted to EUR521.2 million as of 31 March 2016 (31 December 2015: EUR548.9 million); the equity ratio stood at 31.1 per cent (31 December 2015: 28.0 per cent).
The Net Asset Value of Group entities increased to EUR1,282.5 million (31 December 2015: EUR1,252.7 million).
Dr Dirk Markus, Chief Executive Officer of Aurelius, says: "Aurelius has enjoyed an excellent start to the 2016 fiscal year and the proposed increase in dividend demonstrates our desire for our shareholders to participate in this success as well. The second quarter has also got off to a promising start with an additional partial exit from our listed subsidiary Berentzen Group AG along with the successful completion of the acquisition of the Cloud business of Colt Managed Cloud. Aurelius’ pipeline of divestments and acquisitions for the remainder of the financial year 2016 remains strong; we look forward to announcing further deal activity in due course.”
