elexis AG  / Key word(s): Final Results

30.03.2012 08:00

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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elexis AG ad-hoc announcement in accordance with § 15 of the German Securities Trading Act (WpHG) on the final results for the 2011 financial year

*Provisional results for the 2011 financial year confirmed *Incoming orders rose by 15.5 % and totalled 174.0 million euros *Sales totalled 167.4 million euros (+22 %)
*Earnings before interest and taxes (EBIT) almost doubled compared to the previous year to 19.6 million euros (previous year: 10.6 million euros before goodwill impairment)

Wenden, 30 March 2012 - elexis AG, which is listed in the Prime Standard of the Frankfurt Stock Exchange, today confirmed its provisional results for the 2011 financial year. The elexis Group is an international group that operates in global markets. Its locations in Europe, Asia, North America and Latin America play a pivotal role as it actively seeks to shape the shift in demand towards the emerging countries. The current diversification in products and markets also makes the elexis Group less susceptible to economic fluctuations.

Incoming orders and sales
elexis AG's incoming orders rose compared to the previous year by 15.5 % and totalled 174.0 million euros (previous year: 150.7 million euros). elexis AG's business performance was therefore better than the cyclical trend in the German engineering industry. The VDMA reported as at the end of 2011 an increase in incoming orders in the German engineering industry of 10 %.

elexis AG's sales rose compared to the previous year by around 22 % and totalled 167.4 million euros (previous year: 136.7 million euros). The foreign locations and elexis AG's strong exports again made a significant contribution in 2011 to this increase in sales. In 2011 the elexis Group generated around 61.1 % (previous year: 58.2 %) of its direct sales revenue abroad.

Trends in the business divisions
The High Quality Automation division contributed more than 80% of the elexis Group's sales revenue and therefore remains the mainstay of elexis AG's business. All of the product areas and companies in this segment recorded a high level of demand in the 2011 financial year. In particular the first half of 2011 was characterised by catch-up effects as a consequence of the last recession. Incoming orders increased by 14 % and totalled 142.9 million euros as at 31 December 2011 (previous year: 125.9 million euros). The division increased its sales revenue in the period under review from 118.0 million euros to 138.6 million euros. Earnings before interest and taxes (EBIT) increased to 19.5 million euros (previous year: 16.0 million euros) This equates to an EBIT margin of 14.1 % compared to 13.5 % in the previous year.

With the product launch of modular systems and rising hygiene, efficiency and automation standards, a market gradually opened up in Asia in the 2011 financial year for the High Precision Automation division. The international sales offensive in this segment resulted in an increase in incoming orders of 25 % compared to the previous year. As at 31 December 2011 these totalled 31.1 million euros following 24.8 million euros in the previous year. Sales totalled 28.9 million euros at the end of the financial year (previous year: 18.7 million euros). This equates to an increase of 55 % compared to the previous year. In the 2011 financial year the High Precision Automation division returned to profit. As at 31 December 2011 this segment generated an EBIT of 1.8 million euros. The EBIT margin was 6.2 % (previous year: minus 17.1 % before goodwill impairment).
Earnings position
The Management Board announced at the 2011 Annual General Meeting that the aim was to generate an EBIT margin of between 11.5 and 13.5 %. The elexis Group achieved this internal target with an EBIT margin of 11.7 % (previous year: 7.7 % before goodwill impairment).

The elexis Group generated as at 31 December 2011 earnings before interest and taxes (EBIT) of 19.6 million euros following 10.6 million euros in the previous year (before goodwill impairment). This equates to an increase in the EBIT of 85 percent.

Net income after the deduction of minority interests totalled 12.6 million euros as at the balance sheet date (previous year: 2.2 million euros after goodwill impairment). Earnings per share were 1.37 euros as at 31 December 2011 following 0.24 euros in the previous year.

Equity and other key performance indicators
elexis AG's balance sheet ratios were again sound in the 2011 financial year. As at the end of the 2011 financial year equity totalled 79.6 million euros (previous year: 69.1 million euros). The equity ratio rose due to the positive earnings position from 52.2 % in 2010 to 53.5 % as at 31 December 2011.

Net liquidity was much higher than in the previous year and rose from 19.4 million euros to 24.5 million euros. The operating cash flow totalled 10.9 million euros as at 31 December 2011 following 14.4 million euros in the previous year.

Dividend proposal
elexis intends to allow its shareholders to participate appropriately in the success of the company again this financial year. With the establishment of the 'New Products' profit centre, we will focus more on researching new technologies and developing new prototypes and products in the next few years. The Management Board and Supervisory Board intend to consider this additional investment in new products in the dividend payout ratio and in so doing secure elexis's innovation capability and technology lead. It will be proposed to the Annual General Meeting in May 2012 that a dividend of 20 % based on the consolidated net income after the deduction of minority interests is paid out. This equates to a dividend payment of 2.484 million euros or 0.27 euros per share.

Outlook: elexis benefits from technology and market leadership The elexis Group works with the clear goal of achieving profitable growth through technology and market leadership. The ongoing innovation and sales offensives will be continued in the 2012 financial year.
The business performance of the divisions in the elexis Group is mixed; it needs to be considered that they have to adapt to market conditions and differences with regard to needs and demand. These relate not only to technical matters and initiatives in the divisions, but to a large degree to the global economic and financial situation and its impact on the real economy.

The low of the key economic indicators at the start of 2012 may be reflected in a stagnation or slight fall in the number of orders for the elexis Group in the current financial year.

The 2011 Annual Report is available at www.elexis.de.
Shares of elexis AG are listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN: DE 000 508 500 5).


30.03.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      elexis AG
              Industriestraße 1
              57482 Wenden
              Germany
Phone:        +49 (0)2762 612 - 130
Fax:          +49 (0)2762 612 - 135
E-mail:       eicke@elexis.de
Internet:     www.elexis.de
ISIN:         DE0005085005
WKN:          508500
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart  
End of Announcement DGAP News-Service  

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