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DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Quarter Results
AURELIUS Equity Opportunities publishes results for the first quarter of 2021: Very good start to the 2021 financial year
- Total consolidated revenues reach EUR 809.7 million, annualized consolidated revenues EUR 3,151.5 million
- Strong performance of portfolio companies: Operating EBITDA +125%
- Net asset value rises further by 7% to EUR 1,076.7 million
- Already eight transactions in the current financial year
- Continued positive outlook for the remainder of the 2021 financial year
Munich, May 12, 2021 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) published results for the first quarter of 2021 on today's date. Total consolidated revenues reached EUR 809.7 million in the reporting period (Q1 2020: EUR 829.7 million). The modest year-over-year decline is attributable to the exits completed in the 2020 financial year. By contrast, annualized consolidated revenues from continued operations rose slightly to EUR 3,151.5 million (Q1 2020: EUR 3,105.6 million).
Strong performance of portfolio companies: operating EBITDA +125%
The operating EBITDA of the combined Group rose to EUR 55.7 million in the first quarter of 2021 (Q1 2020: EUR 24.8 million), in a clear sign that the Group companies continue to perform extremely well despite the still ongoing coronavirus pandemic in the first quarter of 2021. The Group companies GKN Wheels & Structures, Nedis and Distrelec, which were only acquired last year, as well as the NDS Group and Rivus Fleet Solutions, made especially strong contributions to the positive operating performance of the portfolio companies.
Cash and cash equivalents amounted to EUR 359.5 million at March 31, 2021 (December 31, 2020: EUR 422.9 million) and the equity ratio came to 24.3 percent (December 31, 2020: 21.3%).
Already eight transactions in the current financial year
With one platform investment, already three add-on transactions, one partial company sale and three co-investments, 2021 is already shaping up to be a transaction-intensive year for AURELIUS Equity Opportunities. In addition to platform investments and add-on acquisitions for the current portfolio, AURELIUS Equity Opportunities plans to broaden the investment spectrum with larger transactions with the aid of co-investments with the fund AURELIUS European Opportunities IV in the future.
Eight transactions were completed in the first quarter of 2021. In March 2021, the Group acquired Hüppe GmbH, a leading European supplier of bathroom equipment, as a platform investment. The Conaxess Trade Group acquired the Movement Group in February, and the BPG Building Partners Group acquired GSB Gerüstbau in March as add-on acquisitions to strengthen existing Group companies. Also in March, AutoRestore was acquired as the affiliate of the British Rivus Fleet Solutions. By way of co-investments, the Group invested in the acquisitions of the European consumer battery business from Panasonic, the temperature-controlled logistics specialist Bring Frigo from the Norwegian Post, and SSE Contracting Limited, a leading contracting company for mechanical and electrical engineering services in the United Kingdom, from SSE plc.
Also in March, the AURELIUS subsidiary Office Depot Europe sold its Italian business to the French investor group Bruneau. This strategist had acquired the Spanish direct business of Office Depot Europe only in July of last year.
Continued positive outlook for the remainder of the 2021 financial year
Net asset value of the AURELIUS portfolio (in EUR millions)
* The retirement of 1,000,000 shares without capital reduction resolved on March 9, 2021 and already completed has been factored into the calculation of NAV per share. It has not yet been entered in the Commercial Register.
Key investment platforms are AURELIUS European Opportunities Fund and the exchange-listed AURELIUS Equity Opportunities SE & Co. KGaA ("AEO"; ISIN: DE000A0JK2A8, ticker symbol: AR4), which invests in corporate carve-outs and companies with development potential in the mid-market segment (Fund) and in the lower mid-market segment (AEO). An essential aspect of the investment strategy is the operational support of the portfolio companies with a team of around 100 in-house operating task force experts.
AURELIUS Group also operates in the areas of growth capital, real estate opportunities and alternative debt solutions. AURELIUS Growth Capital invests in leveraged buyouts, usually in small and mid-market succession situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support to refugees on their way towards a better life.
To find out more, visit www.aurelius-group.com
12.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
AURELIUS Equity Opportunities SE & Co. KGaA
+49 (0)89 544 799-0
+49 (0)89 544 799-55
Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
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