Strong second half-year 2012 for Ascom
Based on preliminary unaudited results, Ascom generated in 2012 revenues of around CHF 450 million (previous year: CHF 437.5 million), resulting in growth of close to 3%. Ascom closed the second half-year 2012 with an EBITDA margin of around 14% and thus reaches for the full year 2012 an EBITDA margin of about 10%, taking into account a weak first half-year (EBITDA margin of 5.0%) .
From a today's perspective, Ascom is expecting a Group profit for 2012 of around CHF 20 million, this in line with the previous year. The Board of Directors will propose to the Annual General Meeting an increased dividend (in the form of a tax-free distribution from the capital contribution reserves) of CHF 0.30 per share.
Full details of Ascom's financial statements and the 2012 Annual Report will be published on 20 March 2013.
Strong second half-year
In the second half of 2012 Ascom generated revenues of around CHF 235 million and achieved an EBITDA margin of around 14%. With revenues of around CHF 155 million, Wireless Solutions posted an EBITDA margin of around 17% for the second half-year. Revenue generated by Network Testing was around 15% higher versus the first half-year at CHF 70 million, with an EBITDA margin before restructuring costs of around 15% (10% including restructuring costs).
Wireless Solutions increased EBITDA margin to 16%
Wireless Solutions recorded revenue growth of about 7% year-on-year and generated revenues of around CHF 295 million for the full-year. Wireless Solutions further improved its profitability and posted the best year ever with an EBITDA margin of around 16%.
Successful turnaround for Network Testing
Network Testing achieved a successful turnaround, recording a significant improvement in results in the second half-year thanks to an increase in sales of 15% compared to the first half-year. Due to this positive development Network Testing generated for the full year revenues of about CHF 130 million and achieved an EBITDA margin of around 5% before restructuring costs.
The planned measures taken to reduce the cost base by CHF 20 million were completely implemented. The full-year results show a charge of around CHF 12 million for one-off restructuring costs. Thus Network Testing reacted very fast and efficiently to the market conditions. The reduction of CHF 20 million in cost base will fully materialize in 2013 and hence form a good basis for the further business development. Without restructuring costs and including the full savings the EBITDA margin for Network Testing for 2012 would have amounted to around 15%.
Net result in line with the previous year
Based on the preliminary results and from a today's perspective, Ascom is expecting a Group profit for 2012 of around CHF 20 million, this in line with the previous year (H1/2012: CHF 2.6 million; FY 2011: CHF 23.1 million).
As of 31 December 2012, the Ascom Group recorded net debt of around CHF 40 million, and an equity ratio of about 40%.
In view of the positive outlook, the Board of Directors will propose to the Annual General Meeting a dividend (in the form of a tax-free distribution from capital contribution reserves) of CHF 0.30 per share, corresponding to an increase of 20% year-on-year.
Ascom will publish further information and full details of its financial statements and the 2012 Annual Report on 20 March 2013. Based on the strong result of the second half-year, Ascom will up-date its guidance at the Annual Media Conference.
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