Ascom announces preliminary results for 2011
Ascom generated revenues for continuing operations of about CHF 437 million for fiscal year 2011 resulting in a slight organic growth of about 1% in local currencies. The EBITDA margin for continuing operations is within the defined full-year guidance of 13-14%.
Full details of the financial statements and the Annual Report 2011 will be published on 15 March 2012.
Based on preliminary unaudited results for fiscal year 2011 the Ascom Group generated revenues in its continuing operations of about CHF 437 million for 2011 (2010: CHF 472.9 million) resulting overall in a slight organic growth of about 1% in local currencies. The devaluation of major currencies (mainly US dollar and Euro) compared to previous year resulted in considerable negative foreign exchange effects when translating the results into Swiss francs.
Wireless Solutions succeeded in generating organic growth of about 5% in 2011 (in local currencies). Network Testing experienced weaker than expected demand as customers reduced or postponed capital expenditure, mainly in December 2011. Revenues for Network Testing were about 7% down from the previous year's figures (in local currencies).
Despite negative currency effects, Ascom achieves an EBITDA margin of 13-14% which is in line with the defined full-year guidance. Wireless Solutions posted very good results and succeeded in further increasing its profitability despite negative currency effects. The integration of the Finnish healthcare company Miratel develops very well. Network Testing suffers from a substantial decrease in profitability due to considerably lower revenue (mainly in December 2011) and negative currency effects resulting in a low single digit EBITDA margin.
Based on the preliminary results and from a today's perspective, Ascom is expecting Group profit for 2011 (net profit including discontinued operations) to be in a range of CHF 23-26 million (H1/2011: CHF 9.0 million; FY 2010: CHF 32.5 million).
Ascom will publish further information and the full details of its financial statements and the Annual Report 2011 on 15 March 2012.
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