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euromicron AG: 2013 Annual financial statements

DGAP-News: euromicron AG / Key word(s): Final Results
euromicron AG: 2013 Annual financial statements

31.03.2014 / 07:00

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euromicron AG pushes ahead massively and successfully with the Agenda
500-High expenditures again on integration, consolidation and realignment
impact earnings in 2013

- Adjusted guidance targets achieved: Total operating performance increases
to EUR328.7 million
- Integration costs of EUR5.5 million, special effects from project
valuations of EUR4.9 million and order postponements at the production
companies and project postponements at the system houses totaling almost
EUR7.9 million result in an EBIT of around EUR5.5 million
- Good foundation for further development and expansion created: Orders
books of EUR126.5 million, slightly above the previous year's figure of
EUR125.2 million

Frankfurt/Main, March 31, 2014 - As planned, euromicron AG is pushing
massively ahead with the Group's integration phase ("Agenda 500"), which
has a time frame of 2 to 2 years, and paving the way to achieving its
ambitious growth targets by 2016. These targets are geared toward growth in
sales to around EUR500 million and a return to an EBIT margin of 8% to 11%.

Against this backdrop, euromicron AG used the year of core integration
2013, as announced, to press ahead intensively with consolidation and
realigning the company. So as to prepare the Group for the next major stage
in its growth, the initial integration measures commenced in 2012 were
transitioned to a structured process and a far higher number of projects
were accomplished in 2013. As a consequence, the Group now has more uniform
processes, a broader know-how base, more innovative products, an optimized
IT landscape, more modern locations and more professional structures than
at the start of the integration phase in 2012.

To enable that, a record amount was invested in integration of the company
in 2013. In order to realign euromicron and make it ready for the future,
extensive investments in reducing and restructuring the workforce were
made, just about all IT fields and processes were included in an initial
stage, the divisions were reorganized and a raft of cost-cutting measures
were carried out. As a result, integration and restructuring costs rose
sharply again in 2013, with a total of around EUR5.5 million being spent on
related measures in the year under review, a sum that - as in the previous
year - was funded from the company's operating income.

With the integration measures, the Executive Board of euromicron AG intends
to create a stable, consolidated and streamlined platform for the planned