ascom holding ag-reg (ASCN) Snapshot

Ascom Holding AG announced its annual general meeting of shareholders held on 10 April 2013. The general meeting approved the proposal of the board of directors to pay out an amount of CHF 0.35 per share out of reserves from capital contribution for the fiscal year 2012, corresponding to a pay-out ratio of 60%. The meeting also elected Cornelia Gehrig as new member of the board of directors of the company.

Ascom Holding AG reported audited consolidated earnings results for the year ended December 31, 2012. Revenue was CHF 449.8 million against CHF 437.5 million for the same period in the last year. Sales with oEM partners performed well while the in-direct sales channel with international partners was below expectations, mainly due to the difficult economical situation in southern Europe. Earnings before interest and income tax was CHF 23.4 million against CHF 40.6 million for the same period in the last year. Earnings before income tax were CHF 18.7 million against CHF 34.0 million for the same period in the last year. Profit for the period from continuing operations was CHF 17.6 million against CHF 30.6 million for the same period in the last year. Group profit for the period attributable to the owners of the parent was CHF 20.9 million against CHF 23.1 million for the same period in the last year. Basic and diluted earnings per share from continuing operations were CHF 0.51 against CHF 0.88 for the same period in the last year. Net cash flow from operating activities was CHF 5.4 million against CHF 16.4 million for the same period in the last year. Purchase of property, plant and equipment was CHF 3.2 million against CHF 5.1 million for the same period in the last year. Purchase of intangible assets was CHF 3.4 million against CHF 3.9 million for the same period in the last year. Net debt as on December 31, 2012 was CHF 41.3 million against negative CHF 55.8 million as on December 31, 2011. Despite a difficult first half, growth was achieved during the second half as a result of the stronger and more focused organizational structure and due to increased net-work infrastructure spending mainly in north america. The company provided earnings guidance for 2013. The company plans to reach an EBITDA margin of 15­16% at Group level in 2013 while achieving growth of 5%. The Board of Directors is confident about the future development of Ascom and will propose to the shareholders an increased dividend (in form of a tax free distribution of capital contribution reserves) of CHF 0.35 per share, corresponding to an increase of 40% year-on-year and to a payout ratio of 60.3%.

Ascom Holding AG announced preliminary revenue results for the second half and full year 2012. For the year, the company generated in 2012 revenues of around CHF 450 million compared with CHF 437.5 million for the same period a year ago, resulting in growth of close to 3%. In the second half of 2012 the company generated revenues of around CHF 235 million. With revenues of around CHF 155 million. Revenue generated by Network Testing was around 15% higher versus the first half-year at CHF 70 million. The company expecting a Group profit for 2012 of around CHF 20 million, this in line with the previous year. The Board of Directors will propose to the Annual General Meeting an increased dividend (in the form of a tax-free distribution from the capital contribution reserves) of CHF 0.30 per share.