DGAP-News

euromicron AG confirms forecast despite slow start to fiscal year 2015

DGAP-News: euromicron AG / Key word(s): Interim Report/Quarter Results
euromicron AG confirms forecast despite slow start to fiscal year 2015

30.06.2015 / 07:00

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- Group sales remain stable at EUR 74.6 million

- EBITDA margin of 1.0% mainly due to one-time effects of severance
payments

- Correction of previous year's comparative figures for 2014 in the
interim financial statements for 2015

- Forecast for fiscal year 2015 confirmed due to positive market signals

Frankfurt/Main, 30 June 2015 - euromicron AG, a leading supplier of
complete infrastructure solutions for communications, transport, security
and data networks with a comprehensive network of subsidiaries in Germany
and at various European sites, published its figures for the first three
months of 2015 today. According to this information, sales remained at
roughly the same level as last year at EUR 74.6 million (Q1 2014: corrected
figure of EUR 75.7 million). Earnings before interest, taxes, depreciation
and amortization (EBITDA) totaled EUR 0.8 million for the first three
months of 2015 after a corrected figure of EUR 2.7 million for the same
period of the previous year. This decline can be attributed for the most
part to one-time effects from severance payments and higher structural
costs. The Group EBITDA margin accordingly amounted to 1.0% (Q1 2014: 3.5%
on the basis of corrected figures).

During the first quarter of 2015, new orders amounted to EUR 79.1 million
EUR (Q1 2014: EUR 98.7 million). The weak new orders can be attributed for
the most part to the fact that euromicron AG refrained from acquiring large
projects with low margins during the first quarter of 2015. At the same
time, new business for manufacturing operations remained subdued due to
shifts in orders in the first three months of 2015. Equity amounted to EUR
107.5 million as of 31 March 2015 and was thus EUR 2.9 million lower than
on 31 December 2014 (EUR 110.4 million). This difference was caused on the
one hand by the consolidated net loss for the period of the first quarter
of 2015. Furthermore, distributions from subsidiaries that were resolved in
the first quarter of 2015 that proportionally pertain to non-controlling
interests were reposted from equity to borrowed capital. This resulted in
an equity ratio of 37.2% following 38.4% as of 31 December 2014.

The results for the first quarter of 2015 as well as all of the other