Infront Financial Technology GmbH
vwd boosts sales in 2012 – EBITDA falls below previous year’s level as a result of non-recurring effects
vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft / Key word(s): Final Results vwd boosts sales in 2012 – EBITDA falls below previous year’s level – Further remeasurement of the EDG put option Frankfurt am Main, April 30, 2013 – vwd Vereinigte Wirtschaftsdienste AG (regulated market, General Standard, ISIN DE0005204705) announces its audited financial results for the Group in fiscal year 2012. The vwd group continued to generate growth in fiscal year 2012. Fueled by the first-time inclusion of a full year’s results produced by the company’s investment in Italy, sales jumped by 7.6% to EUR 87,025 thousand (previous year: EUR 80,886 thousand). Despite this growth, the results did not fully meet expectations. In addition to changes among the ownership and management of vwd AG, this result was due to the exceptional level of operational energy that the Group had to expend in order to react to declining market activity. Added to this were non-recurring effects related to the EDG put option and the acquisition by Vienna GmbH. As a result, earnings before interest, taxes, depreciation and amortization (EBITDA) at the vwd group dropped by 7.1% in 2012 to EUR 8,423 thousand (previous year: EUR 9,064 thousand). Adjusted for non-recurring special operational effects, EBITDA would have exceeded the previous year’s level. During the year, the Market Data Solutions Segment (MDS), with its market-data systems, browser-based applications and portfolio-management solutions, boosted sales by 16.2% to In 2012, the tailored technology solutions and the outsourcing assistance provided by the Technology Solutions Segment (TS) were again in demand. As a result of new products and further investments in available products, the Segment’s sales climbed by 5.6% to EUR 21,075 thousand (previous year: EUR 19,951 thousand) in the face of weakened, crisis-driven transaction activity. For the first time, the new product called vwd sales process solution made a significant contribution to sales. Fueled by the boost in sales, EBITDA jumped by 70.7% to EUR 3,700 thousand (previous year: EUR 2,208 thousand). The Specialised Market Solutions Segment (SMS), with its publication and marketing concepts as well as its risk assessments for financial products, was hit hard by the ongoing problems afflicting financial markets and uncertainties associated with the continued integration of EDG companies. A slowdown in business with mutual funds and a drop in advertising revenues generated by the financial portal finanztreff.de triggered a 6.7% decline in sales to EUR 19,796 thousand (previous year: EUR 21,208 thousand). The Segment’s performance was hurt in particular by non-recurring effects. The largest of these comprised consulting costs generated as part of the measurement of the EDG put option. The Segment’s EBITDA dropped by 69.8% to EUR 243 thousand (previous year: EUR 2,149 thousand) due to increased material costs and other operating expenses attributed to the Segment. During the reporting year, EBIT at the vwd group decreased by 23.9% to EUR3,057 thousand (previous year: EUR 4,017 thousand). The EBIT margin totaled 3.4% (previous year: 5.0%). The financial result amounted to EUR -4,452 thousand (previous year: EUR -5,225 thousand). This figure includes interest expenses resulting from the remeasurement of the EDG put option of EUR 3,742 thousand (previous year: EUR 4,682 thousand). As a result, the vwd group generated a consolidated loss after taxes and before minority interests of EUR -4,366 thousand (previous year: Key financial figures
Support to the financial industry in the transformation process For 2013, the vwd group expects consolidated sales will total between EUR 87.0 million and EUR 96.1 million. EBITDA is expected to amount to between EUR 9.4 million and EUR 10.5 million. The annual report for 2012 is now available at http://www.vwd.com/vwd/investor_relations.htm.
End of Corporate News 30.04.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory 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: | vwd Vereinigte Wirtschaftsdienste Aktiengesellschaft | |
Tilsiter Straße 1 | ||
60487 Frankfurt am Main | ||
Germany | ||
Phone: | +49 (0)69 50701-316 | |
Fax: | +49 (0)69 50701-114 | |
E-mail: | cscharf@vwd.com | |
Internet: | http://www.vwd.com | |
ISIN: | DE0005204705 | |
WKN: | 520470 | |
Listed: | Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
End of News | DGAP News-Service |
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