Trading update, 27 September 2011
The Board of Directors of OIM Plc informs the market about the progress that has
been made in the realization of the Company’s strategy.
The net earnings per share, were - especially due to the way of handling one time
costs and some other topics under IFRS rules - only €0,01 over the year 2010.
The Board of Directors expects this value to be substantially higher over the year
2011 as a consequence of three factors:
• Non-audited financial results of its main subsidiary, the Fleischhauer Group (95.9
%), show an EBIT of €965K (1st half 2010: €786K) and a profit after
tax (PAT) of €753K (1st half 2010: €524K) over the first half year of
2011. This means a substantial increase on both EBIT (+23%) and PAT (+44%)as compared
to the same period 2010. Results are substantially over budget as well and the order
book is in line with this increase.
• The capital raise and restructuring of MySparta AG, which leaves the company well-funded
now is expected to translate in earnings generation before the end of the year 2011.
• Costs at OIM Plc level will be much more in line with the size of the business
and cost ratio’s will further improve with the growth of the business
The Company is in the process of finalizing a Prospectus for the issue of a € 50
million listed zero bond. As soon as the regulatory approvals will have been obtained,
a placement of the first tranche of the bond amounting € 12.5 million net will be
launched.
In parallel the Board is investigating various opportunities to proceed with acquisitions
and the Board reasonably expects one or more of these opportunities to materialize
before the end of this year.
Enquiries.
| Please contact: | |
| Marius Ritskes, CEO | +31 40 214 65 65 |
| Web site: Web site | www.oimplc.com |