Amplifon SpA, Q1 2013 Earnings Call, Apr 24, 2013

Amplifon SpA reported consolidated and parent company earnings results for the full year ended December 31, 2012. For the year, on parent company basis, revenues from sales and services were EUR 224,681,195 against EUR 221,514,629 a year ago. Gross operating profit (EBITDA) was EUR 44,006,395 against EUR 40,117,576 a year ago. Operating result was EUR 37,099,430 against EUR 33,903,034 a year ago. Income before tax was EUR 24,485,321 against EUR 31,795,630 a year ago. Total net income was EUR 17,277,022 against EUR 22,865,440 a year ago. Net cash flow from the period was EUR 73,512 against EUR 21,062 a year ago. For the year on consolidated basis, net revenues were EUR 846,611,000 against EUR 827,442,000 a year ago. This increase was driven by the strong growth recorded in North America, in the Asia-Pacific region and in the United Kingdom, supported also by favorable exchange differences. EBITDA was EUR 145,172,000 against EUR 144,511,000 a year ago. EBITA was EUR 114,113,000 against EUR 116,061,000 a year ago. EBIT was EUR 97,886,000 against EUR 100,293,000 a year ago. EBIT dropped 2.4% with respect to 2011 due to higher depreciation linked primarily to the increased investments in store renovation. Net income before taxes was EUR 72,205,000 against EUR 72,304,000 a year ago. Net income Group was EUR 43,182,000 against EUR 42,698,000 a year ago. Net cash flow from the period was EUR 47,318,000 against EUR 30,742,000 a year ago. Net debt fell from EUR 351.8 million at December 31, 2011 to EUR 305.8 million, confirmation of the strong ability to generate cash flow. The company announced the Board of Directors will propose that the Shareholders' Meeting, convened on April 17, 2013, to approve distribution of part of the year's earnings as a dividend of EUR 0.043 per share, on the total outstanding shares which at the current date amounted to EUR 9,315,865.68, to be paid beginning on May 16, 2013, going ex-dividend on May 13, 2013. The proposed dividend was EUR 0.043 per share an increase of 16.2% with respect to the prior year.

Amplifon SpA, 2012 Earnings Call, Mar 06, 2013