Francotyp-Postalia Holding AG / Change in Forecast/Quarter Results
10.11.2009
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Francotyp-Postalia Improves its Result in Third Quarter 2009
- EBITDA increases to 4.7 million euros against 4.5 million euros for
same quarter last year
- EBITDA margin increases to 15 percent against 13 percent for last year
- Higher profitability despite 9 percent downturn in revenues in third
quarter
Birkenwerder, 10 November 2009. Francotyp-Postalia Holding AG improved its
profitability during the third quarter of 2009, despite the continuing
economic difficulties facing the sector it operates in. While revenues were
lower at 30.4 million euros against 33.4 million for the same quarter last
year, EBITDA for the third quarter of 2009 improved to 4.7 million euros
for the worldwide service provider for outbound mail. EBITDA for the same
quarter last year came to 4.5 million euros. These figures show that the
visible improvement made over the last quarters is continuing. In the first
nine months of the current business year, the FP Group achieved an EBITDA
of 14.2 million euros, almost identical to the previous year (Q1-Q3 2008:
14.3 million euros), although revenues were down by 8.3 percent to 97.3
million euros.
High Stability of Recurring Revenues
As in the previous quarters, revenues for the FP Group took two directions
in the third quarter of 2009. Recurring revenues proved highly stable,
while new revenues of franking and inserting machines were lower due to the
poor economy. As a result, overall revenues for the Mailroom segment in the
third quarter were lower at 26.4 million euros, compared to 29.6 million
for the same quarter last year. Taken over nine months, revenues reached
85.4 million euros, compared to 94.8 million euros for the same reporting
period of the previous year. Recurring revenues, mainly from service
contracts for the Company's worldwide installed base of 262,000 franking
machines, increased slightly during the period to 60.5 million euros,
compared to 60.4 million euros for the first nine months of last year.
The FP Group's software solutions and mail management business also mainly
comprised recurring revenues. Revenues in the Mailstream segment rose both
for the quarter, as well as for the full nine-month period. In the third
quarter of 2009, revenues came to 4.0 million euros, compared to 3.8
million euros for the same quarter last year, while the nine-month figure
for 2009 came to 11.9 million euros, compared to 11.3 million euros for the
same period last year. 'Expanding our offerings at an early stage to
provide software solutions and mail management services for outbound mail
is paying off. Here, too, we are generating recurring revenues based on
stable customer relations,' commented Andreas Drechsler, member of the
Management Board of the FP Group.
Tough Cost Management Strengthens Earning Power
Restructuring measures, largely completed in 2009, together with tough cost
management strengthened the Company's earnings power over the first nine
months of the current business year. As a result, the FP Group managed to
stabilise EBITDA at the same level of last year, despite the downturn in
revenues. Consequently, the EBITDA margin rose to 15 percent in the third
quarter of 2009, compared to 13 percent for the same period last year. Q3
net earnings for the Group also improved to -1.6 million euros, compared to
-2.4 million for the third quarter of 2008. Net earnings for the Group for
the first nine months came to -6.5 million euros, compared to -7.0 million
for the same period of the previous year. 'Over the last few quarters, we
have tightened up our processes and significantly lowered costs,' said Hans
Szymanski, member of the FP Management Board.'That puts our Company in a
good position to further increase its earnings power in the coming upturn.'
Economic Environment Remains Difficult in 2009
The economic environment continues to remain difficult in the current
business year. Industrialised countries - the FP Group's main revenues
markets - are only slowly beginning to recover from what is proving to be
the worst global recession of the post-War era. In view of this, the
Company is planning for total annual revenues at the lower end of the 133
to 136 million euros range advised in August 2009. However, due to the
increased earnings power of the FP Group, EBITDA excluding restructuring
costs is expected to reach between 19 million to 21 million euros;
restructuring costs are now predicted to come to no more than around 2.0
million euros.
Contact
Francotyp Postalia Holding AG
Investor Relations
Sabina Prüser
Tel: +49 (0)3303 525 410
Fax: +49 (0)3303 53707 410
E-mail:s.prueser@francotyp.com
The FP Group in Brief
Francotyp-Postalia Holding AG (FP Group) is a leading manufacturer of
franking machines covering the whole value added chain in the outbound mail
market. Its products and services range from franking and inserting
machines to the collection, sorting and consolidation of outbound mail, as
well as electronic hybrid mail solutions offering 21st century mail
processing. With its headquarters in Birkenwerder near Berlin, the FP Group
offers businesses of all sizes individually tailored mail management
solutions. The FP Group has local branches in many industrialised countries
and currently holds over 9% of the worldwide franking machine market. With
a corporate history extending back over 85 years, today the FP Group is
profiting from the growing liberalisation of mail markets and the
increasing interest of businesses to delegate their outbound mail
operations to professional service providers. In financial 2008, the Group
employed around 1,100 people, with revenue of 142.4 million euros and an
EBITDA of 18.2 million euros.
Contact:
Francotyp-Postalia Holding AG
Media Relations
Telefon: +49 (0)3303 525 777
Telefax: +49 (0)3303 53 70 77 77
E-Mail: pr@francotyp.com
10.11.2009 Financial News distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: Francotyp-Postalia Holding AG
Triftweg 21-26
16547 Birkenwerder
Deutschland
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, München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-News: Francotyp-Postalia Holding AG: Francotyp-Postalia Improves its Result in Third Quarter 2009
| Source: EQS Group AG