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Francotyp-Postalia Holding AG, the first multi-channel provider for mail communications, presented its consolidated financial statements for the 2011 financial year today. The final figures for revenue and EBITDA proved slightly better than reported in February when the preliminary figures were presented. For the years to come, the Group anticipates positive revenue and profit development.
The group’s revenue increased to EUR 159.4 million in 2011, compared with EUR 147.3 million in the previous year. Due to the restructuring and the mostly one-off expenses, the FP Group generated EBITDA (earnings before interest, taxes, net financial income, depreciation and amortisation) of EUR 13.1 million, compared to EUR 25.5 million in the previous year. Before restructuring costs, the Group generated EBITDA of EUR 21.8 million. On balance, the company posted consolidated net income before non-controlling interests in 2011 of EUR -4.6 million. In 2010, consolidated net profit had been EUR 2.7 million. Earnings per share amounts to EUR -0.27, in comparison with EUR 0.23 for 2010.
Positive revenue and profit forecast
“In 2011, we have created the crucial conditions for our company’s future profitable growth”, said Hans Szymanski, Chief Executive Officer of FP. In addition to the establishment of new production in Wittenberge, the company pressed ahead with the development of the new PostBase franking system in the past year. The FP Group also successfully entered fully electronic mail communication. Since March 2012, it is the first certified De-Mail provider in Germany.
The company has developed from a manufacturer of franking machines into a multi-channel provider. It is therefore able to serve every dispatch channel relating to letters – from the franking and inserting of physical letters via consolidation all the way to hybrid mail and fully electronic dispatch and receipt via De-Mail. “This strategy puts us in an excellent position. We are combining analogue with digital mail communication and will benefit from this in the long term”, says Andreas Drechsler, Chief Sales Officer of Francotyp-Postalia Holding AG.
In the first quarter of the current year, the company completed the development of production in Wittenberge and the discontinuation of production in Birkenwerder. In this period, the FP Group still had some challenges to overcome in the supply and processing chain. However, the new production is expected to lead to savings of around EUR 3 million annually from the second quarter of 2012. Overall, the company forecasts revenue of at least EUR 161 million, EBITDA of at least EUR 25 million and EBIT of EUR 12 million for 2012. The FP Group anticipates continued growth in financial year 2013. Here, the company expects at least to be able to achieve revenue of EUR 168 million and EBITDA of EUR 27 million.
Moreover, the FP Group has set itself medium-term target figures. By 2014, the company expects revenue of EUR 175 million, EBITDA of EUR 30 million, EBIT of around EUR 16 million and Group profit of approximately EUR 8 million.