According to the final Group figures, First Sensor AG increased sales significantly in the 2011 financial year, achieving its stated sales target. Sales at the First Sensor Group increased by 44% to EUR 65.2 million (previous year: approximately 50% upturn to EUR 45.2 million). The Sensortechnics Group, which was included in the consolidated financial statements by First Sensor as of October 1, 2011, was responsible for EUR 12.6 million of total sales.
The operating result (EBITDA) before non-recurring expenses increased by approximately 38% to €9.7 million compared to the same period of the previous year (2010 financial year: €7.0 million). Correspondingly, this results in adjusted cash EPS of €0.51, despite the increased number of shares, which is a year-on-year increase of around 36%.
EBIT before transaction costs relating to the acquisition of the Sensortechnics Group, before non-recurring expenses and before amortization due to purchase-price allocation amounts to €5.7 million, a 47% increase compared to the previous year (€3.9 million before amortization due to purchase-price allocation). The Sensortechnics Group contribution to EBIT is €1.4 million. The transaction costs as a result of the acquisition amounted to a total of €2.6 million, of which €1.0 million were expensed in financial year 2011. Amortization due to purchase-price allocation increased as a result of the acquisition from €0.2 million to €1.1 million. The non-recurring expenses due to integration measures amounted to €2.1 million.
Equity was once again strengthened considerably thanks to the capital increase and amounts to €69 million, corresponding to an equity ratio of 43% at the balance sheet date. The First Sensor Group has cash and cash equivalents of EUR 12.8 million.
Orders on hand rose by around 200% and amounted to EUR 63.6 million as at December 31, 2011 (previous year: EUR 21.7 million). This extremely sharp increase is clear proof of the continued strong demand from the markets in which First Sensor operates.
In the past financial year, First Sensor worked very successfully towards its aim of becoming a globally-renowned, integrated industrial company for innovative sensor solutions and establishing the necessary foundations for further sustained growth.
In 2012, the Management Board of First Sensor AG is aiming to increase total sales to between EUR 118 million and EUR 122 million, thus almost doubling the around EUR 65 million sales achieved in 2011. The resulting EBITA from purchase price allocation and before integration costs is forecast to be between EUR 13 million and EUR 15 million.
In the following years, the Company will aim for a double-digit growth in sales which are expected to reach the €150 million level by 2015 at the latest. We are maintaining our target of an EBITA margin of 15% in the medium term.
First Sensor AG
Information and clarifications by the issuer on this ad hoc disclosure
All forecasts are based on the assumption that there will not be a further significant downturn in the global economy, disruptions to the financial markets or measures on the part of individual governments that could materially impact First Sensor’s business activities.
The annual financial report for the year ended December 31, 2011 will be published at www.first-sensor.com/de/investor-relations on March 29, 2012.
Further information on the Company can be found on the Internet at www.first-sensor.com or by calling +49 30 639923-710.
About First Sensor
First Sensor AG is a leading provider of high-quality, customer-specific sensor solutions in the life science, industrial, mobility, security and aerospace industries. With more than 700 employees around the world, First Sensor is forecasting annual sales of around €120 million for 2012. First Sensor was formed in Berlin 20 years ago and has been listed on the Frankfurt Stock Exchange since 1999 [Prime Standard Ι WKN (German Securities Code Number): 720190 Ι ISIN: DE0007201907 Ι SIS]. Further information on First Sensor can be found on the Internet at www.first-sensor.com.
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