2010 consolidated revenue anticipated at over EUR 500 million / Positive net cash position as of December 31, 2010 / Warburg Pincus raises stake to 10.003 percent
Eching near Munich, January 14, 2011. Kontron AG, a globally leading provider of embedded computer systems, generated revenue of around EUR 160 million in the fourth quarter of 2010 financial year. This corresponds to nominal growth of approximately 19 percent compared with the same period of the previous year (EUR 135 million). An EBIT margin of around 7 percent is forecast for the fourth quarter when taking restructuring costs that have been incurred into account. Consolidated revenue of more than EUR 500 million is anticipated for the full 2010 financial year due to the positive trend in the second half of 2010. The growth during the fourth quarter resulted in no further burden on the Kontron Group's liquidity, resulting in an expected positive net cash position as of the year-end.
Kontron CEO Ulrich Gehrmann expects revenue in excess of EUR 540 million for the current financial year: "In view of the recovery during the second half of the year, and the order book position of more than EUR 440 million, we are anticipating continued growth during 2011." EBIT margins of between 8 and 9 percent are achievable in line with trends in sales and procurement markets, Gehrmann notes.
According to a further announcement, Warburg Pincus, one of the world's leading private equity companies, is topping up its stake in Kontron from 8.8 to 10.003 percent, via its subsidiary WP International II Sarl. "We regard this step as a reflection of our long-term commitment and belief in the company," explained Lars Singbartl, Managing Director & Partner at Warburg Pincus. According to Kontron CEO Gehrmann, Kontron welcomes the renewed investment in the company's continued growth, and looks forward to further cooperation with Warburg Pincus.
85386 Eching ,
Tel: 08165/77212, Fax 08165/77222
For further information:
Dr. Udo Nimsdorf
Engel & Zimmermann AG
Agentur für Wirtschaftskommunikation
Am Schlosspark 15,
Tel. 089-89 35 633, Fax: 089-89 39 84 29