ALSO-Actebis closes fiscal year with strong result

In fiscal year 2012, profit before tax (EBT) climbed by 63.1 percent from the previous year to 64.9 million euros. As a result, the EBT margin of ALSO-Actebis increased to 1.0 percent after 0.6 percent in the previous year.

In the fourth quarter of the fiscal year 2012, Group net profit increased by 27.2 percent to 21.5 million euros (previous year 16.9 million euros). By comparison with the previous year, profit before tax (EBT) climbed from 22.1 million euros to 28.5 million euros, an increase of 29.0 percent.

Central Europe Market Segment

In the Central Europe market segment, and according to the market research institute CONTEXT in a slightly contracting ITC distribution market (-0.2 percent), ALSO-Actebis increased its net sales by 0.9 percent. Net sales amounted to 4 772 million euros after 4 732 million euros in the previous year. Profit before tax (EBT) improved by 67.4 percent from 34.0 million euros to 56.9 million euros. Demand was particularly strong in the mobility segment (smartphones and tablets). The EBT margin was 1.2 percent, after 0.7 percent in the previous year.

Northern/Eastern Europe Market Segment

In the economically difficult environment, net sales climbed by 3.5 percent from the previous year to 1 669 million euros, after 1 613 million euros in the previous year. In the Northern/Eastern European Market Segment, profit before tax (EBT) climbed by 52.4 percent, from 8.2 million euros to 12.5 million euros. The EBT margin increased from 0.5 percent to 0.7 percent. ALSO-Actebis could maintain its market position and gain further market shares in its sales territory.

Core strategy “MORE”

In 2011, the Group launched an integral program for strategic further development. The goal of the program is to sustainably strengthen profitability. In fiscal year 2012, important steps of the MORE strategy were implemented. Consistent implementation of the profit improvement program (PIP), and process optimization program (POP), made a particularly positive contribution to the result. "Harvesting of synergy effects, best-practice sharing, benchmarking, improved working capital, and reduced interest rates also contributed decisively to the company's success", said Gustavo Möller-Hergt, CEO of ALSO-Actebis Holding AG.

Distribution to the Shareholders

The goals for fiscal year 2012 were surpassed. On this basis, the Board of Directors proposes to the shareholders that at the Annual General Meeting of March 7, 2013, they should vote to make a payment of 1.20 Swiss francs per registered share after 0.70 Swiss francs in the previous year. This represents an increase of 71.4 percent and a payout ratio of 27.5 percent.

Outlook

ALSO-Actebis expects moderate growth and net sales close to the level that was attained in fiscal year 2012. Overall in 2013, the market environment remains challenging.

ALSO-Actebis will consistently implement the core strategy MORE to sustainably increase its value. "With our new positioning in the three segments of Supply Chain, Service, and Solutions we are aligned even more closely to our customer needs", said Gustavo Möller-Hergt, CEO of ALSO-Actebis Holding AG.

The Group has laid the foundations for sustainable and profitable growth and is in a good position to play a leading role in the growth fields of the future (such as cloud, mobile devices, big data, and networking).

In the medium term, ALSO-Actebis continues to strive for EBITDA of 120 to 130 million euros, which – all other things being equal – should correspond to Group net profit of 50 to 55 million euros.

As its future distribution policy the Group will strive for a target payout ratio of 25 to 35 percent.

This forecast is based on a number of assumptions, in particular that net sales in the Group – particularly in business areas that react strongly to changes in the economic environment – develop as expected.

Direct link to the Annual Report 2012: Download PDF here