SMARTRAC Reports First Quarter 2012 Results
DGAP-News: SMARTRAC N.V. / Schlagwort(e): Quartalsergebnis
SMARTRAC Reports First Quarter 2012 Results
10.05.2012 / 07:30
---------------------------------------------------------------------
SMARTRAC Reports First Quarter 2012 Results
- Sales Q1-2012: EUR 51 million, representing an increase of 4 percent on
the EUR 49 million generated in Q1-2011
- EBITDA Q1-2012: EUR 3 million compared to EUR 5 million in Q1-2011
- Outlook 2012: Management confirms target to increase Group sales to
some EUR 250 million in 2012, adverse effects of the flood in Thailand
on profitability expected to be overcome in the second half of 2012
- Dr. Christian Fischer, CEO: 'We have the best basis and prospects to
overcome the effects of the flood in Thailand, continue our growth and
create value for our stakeholders.'
Amsterdam, May 10, 2012 - SMARTRAC N.V., the leading developer,
manufacturer and supplier of RFID transponders and inlays, today announces
financial figures for the first quarter of 2012. SMARTRAC started positive
into the year despite the ongoing burden from the flood disaster in
Thailand and increased its revenues in the first three months of 2012.
Total sales increased by 4 percent from EUR 49 million in Q1-2011 to EUR 51
million in Q1-2012. Increase in revenues resulted from the favorable
business development in the Company's Industry Segment with strong growth
originating from the tickets & labels business.
EBITDA decreased from EUR 5 million in the first three months 2011 to EUR 3
million in the first three months 2012. Profit for the period increased
from EUR 0.6 million in the first quarter 2011 to EUR 1 million in the
first quarter 2012. The increase in profit mainly results from first
insurance payments related to the flood in Thailand.
SMARTRAC Financial Figures at a Glance:
^
Key Data
In thousands of Consolidated 3 Consolidated 3 Change
EUR months ended 31 months ended 31 in %
March 2012 March 2011
Consolidated income
statement
Revenues 50,674 48,962 3.5
EBITDA 2,657 5,216 (49.1)
Profit for the period 951 568 67.4
Financial position and
liquidity
Net cash provided by / 5,750 (961) 698.3
(used in) operating
activities
Working capital 38,718 48,997 (21.0)
Capital expenditure 11,257 4,305 161.5
Total Assets 317,584 245,510 29.4
Operating figures
Basic earnings per share 0.05 0.03 66.7
(EUR)
Operating cash flow per 0.32 (0.06) 633.3
share (EUR)
Equity ratio (%) 51.1 65.6 (22.1)
Headcount (at month's 4,046 3,555 13.8
end)
°
Group Revenues
The SMARTRAC Group generated revenues of EUR 51 million in the first
quarter of 2012, representing an increase of 4 percent from the previous
year's figure of EUR 49 million.
Revenue in SMARTRAC's Security Segment (Business Units Cards and eID)
amounted to EUR 31 million in the first three months of 2012, which is
equivalent to a decrease of 17 percent compared to sales of EUR 37 million
in the same period of the previous year. The decrease is still a result of
the ongoing effects of the flood disaster in Thailand in the fourth quarter
of 2011. In Q1-2012 the Security Segment accounted for 61 percent of total
Group revenue compared to 76 percent a year ago.
Revenue in the Industry Segment (Business Units Industry & Logistics and
Tickets & Labels) increased by 69 percent in the first three months of 2012
to EUR 20 million compared to EUR 12 million in 2011. This increase was
mainly attributable to the favorable development of the Company's tickets &
labels business. The Q1-2012 sales of the Industry Segment represented a 38
percent share of the overall sales of the company compared to 24 percent a
year ago.
Group EBITDA
The Group EBITDA from January to March decreased from EUR 5 million in 2011
to EUR 3 million in 2012. The EBITDA margin for the period under review
accounted for 5 percent compared to 11 percent a year ago. This decrease is
mainly attributable to the missing profitability contribution from the
production facilities in Thailand in the first quarter of 2012 due to the
ongoing consequences of the flood as compared with the first three months
of 2011.
The Security Segment reached an EBITDA of EUR 2 million in 2012 compared
with EBITDA of EUR 5 million a year ago.
The Industry Segment reported an EBITDA of EUR 1.4 million in the first
quarter of 2012 compared with an EBITDA of EUR 0.6 million in the same
period of 2011.
Profit for the period
Profit for the first quarter increased by 67 percent from EUR 0.6 million
in 2011 to EUR 1 million in 2012. The increase in profit is mainly
attributable to first insurance payments related to the flood in Thailand.
Financial Position
Total assets amounted to EUR 318 million as of March 31, 2012, compared
with EUR 264 million at year-end 2011. The increase in total assets was
predominantly related to the inclusion of the assets and liabilities of UPM
RFID as well as investments into property, plant and equipment in the first
quarter of 2012. Cash and cash equivalents increased by 25 percent from EUR
22 million to EUR 28 million, which is mainly attributable to cash flow
provided by operating activities as well as first insurance payments
related to the flood in Thailand.
The Q1-2012 consolidated interim balance sheet showed equity of EUR 162
million compared with EUR 139 million as of December 31, 2011. The increase
mainly results from the proceeds from the capital increase conducted on
March 31, 2012 in order to finance the UPM RFID business. The equity ratio
subsequently decreased from 53 percent at year-end 2011 to 51 percent as of
March 31, 2012.
Cash provided by operating activities amounted to EUR 7 million in the
first three months of 2012, as compared with EUR 0.3 million cash used in
operating activities in the same period of the previous year. Taking into
account interest payments and receipts as well as payments and repayments
for income taxes, the net cash provided by operating activities in the
first three months of 2012 amounted to EUR 6 million compared with net cash
used in operating activities of EUR 1 million in 2011.
Net cash used in investing activities amounted to EUR 7 million as of March
31, 2012, compared with net cash of EUR 6 million used in the same period
of 2011. Higher investments in property, plant and equipment in 2012 were
counterbalanced by the net cash inflow of EUR 5 million resulting from the
acquisition of the UPM RFID business as of March 31, 2012.
Business Outlook
Based on the momentum from the acquisitions, the growth potential of the
global RFID industry and the Company's strong market position, SMARTRAC
confirms its target to increase Group sales to some EUR 250 million in
2012. In terms of profitability, the SMARTRAC Management will work hard to
move on from the adverse effects of the flood disaster in Thailand and to
achieve Group EBITDA margins which come close to past levels in the second
half of 2012.
'We started the year with the positive momentum from the acquisitions and
the burden from the flood disaster in Thailand. We are, however, confident
that we will overcome the latter and derive value and growth from the
integration of new business activities,' said Dr. Christian Fischer.
'Today, we are in an even stronger position to offer our customers the best
product portfolio, the best service, highest quality, innovation, and best
value. With these strengths, our dedicated team and the underlying growth
perspectives of the industry, we have the best prospects to deliver on our
targets and create value for all of our stakeholders.'
The SMARTRAC Q1-2012 Interim Report has been published today and is
available for download on the company's website at www.smartrac-group.com.
About SMARTRAC:
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and
NFC transponders and inlays. The company produces ready-made and customized
transponders and inlays used in access control, animal identification,
automated fare collection, border control, RFID-based car immobilizers,
electronic product identification, industry, libraries and media
management, laundry, logistics, mobile & smart media, public transport,
retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a
stock corporation under Dutch law with its registered headquarters in
Amsterdam. The company currently employs about 4,000 employees and
maintains a global research and development, production, and sales network.
If you have any questions, please contact:
Tanja Moehler
Head of Corporate Communications & Marketing
SMARTRAC N.V.
Phone: +31 20 30 50 157
Email: tanja.moehler@smartrac-group.com
Internet: www.smartrac-group.com
Twitter: www.twitter.com/SMARTRAC_NV
Forward-looking statements:
To the extent that this press release contains forward-looking statements,
such statements are based on assumptions, planning and forecasts at the
time of publication of this press release. Forward-looking statements
always involve uncertainties. Business and economic risks and developments,
the conduct of competitors, political decisions and other factors may cause
the actual results to be materially different from the assumptions,
planning and forecasts at the time of publication of this press release.
Therefore, SMARTRAC N.V. does not assume any responsibility relating to
forward-looking statements contained in this press release. Furthermore,
SMARTRAC N.V. does not assume any obligation to update the forward-looking
statements contained in this press release.
Ende der Corporate News
---------------------------------------------------------------------
10.05.2012 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch die DGAP - ein Unternehmen der EquityStory AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber
verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap-medientreff.de und
http://www.dgap.de
---------------------------------------------------------------------
Sprache: Deutsch
Unternehmen: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Niederlande
Telefon: +31 20 30 50 157
Fax: +31 20 30 50 155
E-Mail: investor.relations@smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
Ende der Mitteilung DGAP News-Service
---------------------------------------------------------------------
169046 10.05.2012
DGAP-News: SMARTRAC N.V. / Schlagwort(e): Quartalsergebnis
SMARTRAC Reports First Quarter 2012 Results
10.05.2012 / 07:30
---------------------------------------------------------------------
SMARTRAC Reports First Quarter 2012 Results
- Sales Q1-2012: EUR 51 million, representing an increase of 4 percent on
the EUR 49 million generated in Q1-2011
- EBITDA Q1-2012: EUR 3 million compared to EUR 5 million in Q1-2011
- Outlook 2012: Management confirms target to increase Group sales to
some EUR 250 million in 2012, adverse effects of the flood in Thailand
on profitability expected to be overcome in the second half of 2012
- Dr. Christian Fischer, CEO: 'We have the best basis and prospects to
overcome the effects of the flood in Thailand, continue our growth and
create value for our stakeholders.'
Amsterdam, May 10, 2012 - SMARTRAC N.V., the leading developer,
manufacturer and supplier of RFID transponders and inlays, today announces
financial figures for the first quarter of 2012. SMARTRAC started positive
into the year despite the ongoing burden from the flood disaster in
Thailand and increased its revenues in the first three months of 2012.
Total sales increased by 4 percent from EUR 49 million in Q1-2011 to EUR 51
million in Q1-2012. Increase in revenues resulted from the favorable
business development in the Company's Industry Segment with strong growth
originating from the tickets & labels business.
EBITDA decreased from EUR 5 million in the first three months 2011 to EUR 3
million in the first three months 2012. Profit for the period increased
from EUR 0.6 million in the first quarter 2011 to EUR 1 million in the
first quarter 2012. The increase in profit mainly results from first
insurance payments related to the flood in Thailand.
SMARTRAC Financial Figures at a Glance:
^
Key Data
In thousands of Consolidated 3 Consolidated 3 Change
EUR months ended 31 months ended 31 in %
March 2012 March 2011
Consolidated income
statement
Revenues 50,674 48,962 3.5
EBITDA 2,657 5,216 (49.1)
Profit for the period 951 568 67.4
Financial position and
liquidity
Net cash provided by / 5,750 (961) 698.3
(used in) operating
activities
Working capital 38,718 48,997 (21.0)
Capital expenditure 11,257 4,305 161.5
Total Assets 317,584 245,510 29.4
Operating figures
Basic earnings per share 0.05 0.03 66.7
(EUR)
Operating cash flow per 0.32 (0.06) 633.3
share (EUR)
Equity ratio (%) 51.1 65.6 (22.1)
Headcount (at month's 4,046 3,555 13.8
end)
°
Group Revenues
The SMARTRAC Group generated revenues of EUR 51 million in the first
quarter of 2012, representing an increase of 4 percent from the previous
year's figure of EUR 49 million.
Revenue in SMARTRAC's Security Segment (Business Units Cards and eID)
amounted to EUR 31 million in the first three months of 2012, which is
equivalent to a decrease of 17 percent compared to sales of EUR 37 million
in the same period of the previous year. The decrease is still a result of
the ongoing effects of the flood disaster in Thailand in the fourth quarter
of 2011. In Q1-2012 the Security Segment accounted for 61 percent of total
Group revenue compared to 76 percent a year ago.
Revenue in the Industry Segment (Business Units Industry & Logistics and
Tickets & Labels) increased by 69 percent in the first three months of 2012
to EUR 20 million compared to EUR 12 million in 2011. This increase was
mainly attributable to the favorable development of the Company's tickets &
labels business. The Q1-2012 sales of the Industry Segment represented a 38
percent share of the overall sales of the company compared to 24 percent a
year ago.
Group EBITDA
The Group EBITDA from January to March decreased from EUR 5 million in 2011
to EUR 3 million in 2012. The EBITDA margin for the period under review
accounted for 5 percent compared to 11 percent a year ago. This decrease is
mainly attributable to the missing profitability contribution from the
production facilities in Thailand in the first quarter of 2012 due to the
ongoing consequences of the flood as compared with the first three months
of 2011.
The Security Segment reached an EBITDA of EUR 2 million in 2012 compared
with EBITDA of EUR 5 million a year ago.
The Industry Segment reported an EBITDA of EUR 1.4 million in the first
quarter of 2012 compared with an EBITDA of EUR 0.6 million in the same
period of 2011.
Profit for the period
Profit for the first quarter increased by 67 percent from EUR 0.6 million
in 2011 to EUR 1 million in 2012. The increase in profit is mainly
attributable to first insurance payments related to the flood in Thailand.
Financial Position
Total assets amounted to EUR 318 million as of March 31, 2012, compared
with EUR 264 million at year-end 2011. The increase in total assets was
predominantly related to the inclusion of the assets and liabilities of UPM
RFID as well as investments into property, plant and equipment in the first
quarter of 2012. Cash and cash equivalents increased by 25 percent from EUR
22 million to EUR 28 million, which is mainly attributable to cash flow
provided by operating activities as well as first insurance payments
related to the flood in Thailand.
The Q1-2012 consolidated interim balance sheet showed equity of EUR 162
million compared with EUR 139 million as of December 31, 2011. The increase
mainly results from the proceeds from the capital increase conducted on
March 31, 2012 in order to finance the UPM RFID business. The equity ratio
subsequently decreased from 53 percent at year-end 2011 to 51 percent as of
March 31, 2012.
Cash provided by operating activities amounted to EUR 7 million in the
first three months of 2012, as compared with EUR 0.3 million cash used in
operating activities in the same period of the previous year. Taking into
account interest payments and receipts as well as payments and repayments
for income taxes, the net cash provided by operating activities in the
first three months of 2012 amounted to EUR 6 million compared with net cash
used in operating activities of EUR 1 million in 2011.
Net cash used in investing activities amounted to EUR 7 million as of March
31, 2012, compared with net cash of EUR 6 million used in the same period
of 2011. Higher investments in property, plant and equipment in 2012 were
counterbalanced by the net cash inflow of EUR 5 million resulting from the
acquisition of the UPM RFID business as of March 31, 2012.
Business Outlook
Based on the momentum from the acquisitions, the growth potential of the
global RFID industry and the Company's strong market position, SMARTRAC
confirms its target to increase Group sales to some EUR 250 million in
2012. In terms of profitability, the SMARTRAC Management will work hard to
move on from the adverse effects of the flood disaster in Thailand and to
achieve Group EBITDA margins which come close to past levels in the second
half of 2012.
'We started the year with the positive momentum from the acquisitions and
the burden from the flood disaster in Thailand. We are, however, confident
that we will overcome the latter and derive value and growth from the
integration of new business activities,' said Dr. Christian Fischer.
'Today, we are in an even stronger position to offer our customers the best
product portfolio, the best service, highest quality, innovation, and best
value. With these strengths, our dedicated team and the underlying growth
perspectives of the industry, we have the best prospects to deliver on our
targets and create value for all of our stakeholders.'
The SMARTRAC Q1-2012 Interim Report has been published today and is
available for download on the company's website at www.smartrac-group.com.
About SMARTRAC:
SMARTRAC is the leading developer, manufacturer, and supplier of RFID and
NFC transponders and inlays. The company produces ready-made and customized
transponders and inlays used in access control, animal identification,
automated fare collection, border control, RFID-based car immobilizers,
electronic product identification, industry, libraries and media
management, laundry, logistics, mobile & smart media, public transport,
retail, and many more.
SMARTRAC was founded in 2000, went public in July 2006, and trades as a
stock corporation under Dutch law with its registered headquarters in
Amsterdam. The company currently employs about 4,000 employees and
maintains a global research and development, production, and sales network.
If you have any questions, please contact:
Tanja Moehler
Head of Corporate Communications & Marketing
SMARTRAC N.V.
Phone: +31 20 30 50 157
Email: tanja.moehler@smartrac-group.com
Internet: www.smartrac-group.com
Twitter: www.twitter.com/SMARTRAC_NV
Forward-looking statements:
To the extent that this press release contains forward-looking statements,
such statements are based on assumptions, planning and forecasts at the
time of publication of this press release. Forward-looking statements
always involve uncertainties. Business and economic risks and developments,
the conduct of competitors, political decisions and other factors may cause
the actual results to be materially different from the assumptions,
planning and forecasts at the time of publication of this press release.
Therefore, SMARTRAC N.V. does not assume any responsibility relating to
forward-looking statements contained in this press release. Furthermore,
SMARTRAC N.V. does not assume any obligation to update the forward-looking
statements contained in this press release.
Ende der Corporate News
---------------------------------------------------------------------
10.05.2012 Veröffentlichung einer Corporate News/Finanznachricht,
übermittelt durch die DGAP - ein Unternehmen der EquityStory AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber
verantwortlich.
Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten,
Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter http://www.dgap-medientreff.de und
http://www.dgap.de
---------------------------------------------------------------------
Sprache: Deutsch
Unternehmen: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Niederlande
Telefon: +31 20 30 50 157
Fax: +31 20 30 50 155
E-Mail: investor.relations@smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
Börsen: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
Ende der Mitteilung DGAP News-Service
---------------------------------------------------------------------
169046 10.05.2012