DGAP-News: Francotyp-Postalia Holding AG: FP Group

DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Half Year Results/Half Year Results Francotyp-Postalia Holding AG: FP Group increases revenue and operating earnings again in second quarter 28.08.2013 / 07:09 --------------------------------------------------------------------- Corporate News FP Group increases revenue and operating earnings again in second quarter - Revenue rises 2.6% to EUR 42.0 million as against same quarter of previous year - EBITDA improves by 18.0% to EUR 5.3 million incl. costs of EUR 0.5 million for provisions in connection with the change in the Management Board - Company confirms forecast for year as a whole Birkenwerder, 28 August 2013. Francotyp-Postalia Holding AG, the first multi-channel provider for mail communication, continued its profitable growth in the second quarter of 2013: Revenue climbed by 2.6% to EUR 42.0 million after EUR 40.9 million in the same quarter of the previous year. This growth results primarily from higher recurring income and the strong demand for the new PostBase franking system. Revenue for the first half of the year improved to EUR 85.5 million as against EUR 82.7 million in the first six months of 2012. Significantly higher EBITDA margin in first half of 2013 Since the start of the second quarter of 2012, PostBase and other franking systems have been produced at the new production site in Wittenberge. Its greater efficiency allowed an improvement in EBITDA in the second quarter of 2013 as well. The FP Group's EBITDA climbed by 18.0% to EUR 5.3 million as against EUR 4.5 million in the same quarter of the previous year. Adjusted for the cost of provisions in connection with the change in the Management Board, EBITDA amounted to EUR 5.8 million. EBITDA for the first six months rose to EUR 11.5 million as against EUR 8.6 million in the previous year. The EBITDA margin improved from 10.4% to 13.5%. EBIT for the first half of 2013 increased to EUR 5.9 million after EUR 4.0 million in the same period of the previous year. In the second quarter of 2013, however, it was up only slightly at EUR 2.5 million after EUR 2.3 million in the second quarter of 2012, as depreciation and amortisation increased by EUR 0.6 million to EUR 2.8 million in the same period in line with planning. In particular, this was due to higher amortisation on capitalised development projects. At the same time, the FP Group also posted higher tax expenses in the second quarter of 2013. Consolidated net income was therefore on par with the same quarter of the previous year at EUR 1.0 million. By contrast, consolidated net income climbed from EUR 1.7 million to EUR 3.2 million in the first half of 2013. Earnings per share rose to EUR 0.21 in the first six months of 2013 as against EUR 0.11 in the first six months of 2012. The FP Group also saw a significant improvement in free cash flow, the net total of cash from operating activities and cash used in investing activities. The free cash flow in the first half of the year was EUR -0.1 million as against EUR -6.0 million in the same period of the previous year. FP Group confirms revenue and earnings forecast for 2013 In light of its good operating performance in the first half of 2013, the FP Group is confirming its forecast for the year as a whole: The company is anticipating revenue of at least EUR 168 million, EBITDA of at least EUR 22 million and EBIT of at least EUR 9 million. 'We are successfully implementing our strategy step by step. The launch of PostBase in our established markets is going very well. We can begin the marketing of new franking machines in countries such as Russia and India. There are future growth prospects here. And corporate interest in the field of digital communication is also clearly on the rise,' explained FP's CEO Hans Szymanski. Szymanski believes that the company is on a good course for the medium term: 'We still have potential in both revenue and earnings. For 2015 we are aiming for revenue of at least EUR 178 million and EBITDA of at least EUR 30 million.' Overview of figures for the quarter: <pre> EUR million Q2 2013 Q2 2012 Change Revenue 42.0 40.9 +2.6% EBITDA 5.3 4.5 +18.0% EBIT 2.5 2.3 +10.5% Consolidated net income 1.0 1.0 -2.0% Earnings per share (EUR) 0.07 0.07 0.0% </pre> Overview of figures for first half of year: <pre> EUR million H1 2013 H1 2012 Change Revenue 85.5 82.7 +3.3% EBITDA 11.5 8.6 +34.0% EBIT 5.9 4.0 +47.1% Consolidated net income 3.2 1.7 +86.5% Earnings per share (EUR) 0.21 0.11 90.9% Free cash flow -0.1 -6.0 n/a </pre> Contact Francotyp-Postalia Holding AG Corporate Communications Sabina Prüser Tel: +49 (0)3303 525 410 Fax: +49 (0)3303 53707 410 E-mail: s.prueser@francotyp.com About Francotyp-Postalia Holding AG The FP Group is the first multi-channel provider for mail communication. The globally active company offers the entire range of products and solutions for business and private customers. In addition to standard machines for franking and inserting mail, its offering includes services such as the collection of business mail and innovative software solutions such as the fully electronic letter. The FP Group, based in Birkenwerder near Berlin, can therefore provide tailored multi-channel solutions. The Group currently operates its own branches in a number of industrialised countries and holds a global market share in franking machines of around 10%. With a history dating back 90 years, the FP Group today benefits across all markets from the increasing liberalisation of postal markets and the readiness of companies to outsource their business mail to professional service providers. In the 2012 financial year, the company generated revenue of EUR 165.6 million. The FP Group employs around 1,100 people worldwide. End of Corporate News --------------------------------------------------------------------- 28.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Francotyp-Postalia Holding AG Triftweg 21-26 16547 Birkenwerder Germany Phone: +49 (0)3303 525 777 Fax: +49 (0)3303 53 70 77 77 E-mail: ir@francotyp.com Internet: www.francotyp.com ISIN: DE000FPH9000 WKN: FPH900 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 227789 28.08.2013