DGAP-News
Figures for the 3rd quarter of 2016: Group reorganization taking effect - significant improvement in key figures
DGAP-News: Gigaset AG / Key word(s): Quarterly / Interim Statement/9-month
figures
Figures for the 3rd quarter of 2016: Group reorganization taking effect -
significant improvement in key figures
18.11.2016 / 09:25
The issuer is solely responsible for the content of this announcement.
figures
Figures for the 3rd quarter of 2016: Group reorganization taking effect -
significant improvement in key figures
18.11.2016 / 09:25
The issuer is solely responsible for the content of this announcement.
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Press Release
Munich, November 18, 2016
Figures for the 3rd quarter of 2016:
Group reorganization taking effect - significant improvement in key figures
- Result from core business before depreciation and amortization
increases sharply to EUR12.3 million (Q3 2015: -EUR4.9 million)
- Consolidated net loss for the year falls significantly to EUR0.4
million (Q3 2015: net loss of EUR14.7 million)
- Consolidated revenue of EUR192.1 million (Q3 2015: EUR208.4 million)
- Free cash flow improves by EUR11.4 million to minus EUR19.3 million (Q3
2015: minus EUR30.7 million)
In December 2015, the Gigaset AG Executive Board adopted a far-reaching
reorganization of the group, with the objective of putting the company on
course for the market and competitive challenges in a changing market
through various efficiency-enhancing, production and personnel measures.
This involved the Executive Board pursuing a three-point plan aimed at
returning Gigaset to profitable growth in the medium and long term. After
the first six months of 2016, the Executive Board was able to announce that
Gigaset was back in the black.
The key financial figures for Gigaset in the third quarter again underline
the positive trend for the company. The result from core business before
depreciation and amortization improved sharply to EUR12.3 million (Q3 2015:
-EUR4.9 million), while the consolidated net loss for the year fell
significantly by EUR14.3 million to EUR0.4 (Q3 2015: net loss of EUR14.7
million). The free cash flow improved by EUR11.4 million to minus EUR19.3
million (Q3 2015: minus EUR30.7 million)
"Although consolidated revenue is lower year on year due to the general
market situation," says Chief Financial Officer Hans-Henning Doerr,
"positive trends can be seen from all key figures on the whole." That was
helped in particular by the decrease in personnel expenses before
restructuring and in other expenses from core business. The restructuring
program is thus having a successful impact, as planned, and giving us the
freedom we need to position new products and solutions successfully."
Total assets of EUR213.0 million
Revenue in the third quarter of fiscal 2016 decreased by 7.8% , but the
Press Release
Munich, November 18, 2016
Figures for the 3rd quarter of 2016:
Group reorganization taking effect - significant improvement in key figures
- Result from core business before depreciation and amortization
increases sharply to EUR12.3 million (Q3 2015: -EUR4.9 million)
- Consolidated net loss for the year falls significantly to EUR0.4
million (Q3 2015: net loss of EUR14.7 million)
- Consolidated revenue of EUR192.1 million (Q3 2015: EUR208.4 million)
- Free cash flow improves by EUR11.4 million to minus EUR19.3 million (Q3
2015: minus EUR30.7 million)
In December 2015, the Gigaset AG Executive Board adopted a far-reaching
reorganization of the group, with the objective of putting the company on
course for the market and competitive challenges in a changing market
through various efficiency-enhancing, production and personnel measures.
This involved the Executive Board pursuing a three-point plan aimed at
returning Gigaset to profitable growth in the medium and long term. After
the first six months of 2016, the Executive Board was able to announce that
Gigaset was back in the black.
The key financial figures for Gigaset in the third quarter again underline
the positive trend for the company. The result from core business before
depreciation and amortization improved sharply to EUR12.3 million (Q3 2015:
-EUR4.9 million), while the consolidated net loss for the year fell
significantly by EUR14.3 million to EUR0.4 (Q3 2015: net loss of EUR14.7
million). The free cash flow improved by EUR11.4 million to minus EUR19.3
million (Q3 2015: minus EUR30.7 million)
"Although consolidated revenue is lower year on year due to the general
market situation," says Chief Financial Officer Hans-Henning Doerr,
"positive trends can be seen from all key figures on the whole." That was
helped in particular by the decrease in personnel expenses before
restructuring and in other expenses from core business. The restructuring
program is thus having a successful impact, as planned, and giving us the
freedom we need to position new products and solutions successfully."
Total assets of EUR213.0 million
Revenue in the third quarter of fiscal 2016 decreased by 7.8% , but the
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