Acquisition of AEES Investor Presentation
Acquisition of AEES
Key financials of AEES
Expected growth in profitability
• AEES has the past years successfully
implemented a comprehensive
rationalisation programme to enhance
the company's overall efficiency and
competitiveness
• Costs related to the rationalisation
programme have burdened the 2010 and
H1/2011 profitability
• A clear majority of the rationalisation
costs for 2011 have already been
booked in H1/2011
• Above-mentioned actions, in
combination with a rebounding market
environment, ensure growth in
profitability going forward
Key financials
PKC GROUP
1-6/2011
1-12/2010
AEES GROUP, Єm
Profit and loss
Net sales
265.7
454.0
EBITDA (excl. rationalisation costs)
13.4
14.7
% of net sales
5.0%
3.2%
EBITDA (reported)
5.1
(4.8)
1.9%
(1.1%)
% of net sales
Balance sheet
Fixed assets
26.1
25.7
Net working capital
43.3
37.4
Note: Financials as per US GAAP. USD/EUR exchange rate average for a
given period. Balance sheet items converted at rate of the balance sheet date.
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