19.12.2012 09:14
Bewerten
(0)

Orc Group AB: Interim Report Cidron Delfi Intressenter AB, May 1 – September 30, 2012

At the beginning of 2012, Cidron Delfi Intressenter AB acquired Orc Group (STO:ORC) through a public tender offer directed to the shareholders in Orc Group AB. Following the sale of Orc’s former subsidiaries and sub-groups CameronTec and Neonet at the beginning of October, continuing operations in the Cidron Delfi Intressenter group now consist solely of operations in Orc. Cidron Delfi Intressenter AB was formed on November 28, 2011, and Orc Group AB is consolidated as of January 1, 2012. There is no historical information for the Cidron group and the comparative figures for 2011 have been taken from Orc’s operations in Orc Group. CameronTec and Neonet are reported as discontinuing operations for all of the periods covered in this report.

  • OPERATING REVENUE FOR THE PERIOD FROM JANUARY TO SEPTEMBER REACHED SEK 391M (432), A DECREASE OF 9%. THE DROP IN REVENUE WAS PARTLY COMPENSATED BY LOWER EXPENSES AND CAPEX. ADJUSTED EBITDA WAS SEK 178M (205) AND EBITDA-CAPEX WAS SEK 96M (115).
  • OPERATING REVENUE FOR THE QUARTER FROM JULY TO SEPTEMBER AMOUNTED TO SEK 127M (140), DOWN BY 9%. THE DROP IN REVENUE WAS LARGELY COMPENSATED BY LOWER EXPENSES AND CAPEX. ADJUSTED EBITDA WAS SEK 60M (64) AND EBITDA-CAPEX WAS SEK 33M (34).
  • A SUCCESSFUL BOND PLACEMENT OF EUR 60M WAS CARRIED OUT IN NOVEMBER.
  • THE LAUNCH OF AN EFFICIENCY IMPROVEMENT PROGRAM WILL REDUCE THE NUMBER OF EMPLOYEES BY AROUND 20 DURING DECEMBER, EQUAL TO JUST UNDER 10% OF THE TOTAL NUMBER OF EMPLOYEES.
  • AS A RESULT OF THE EFFICIENCY IMPROVEMENT PROGRAM, TOGETHER WITH REFINANCING AND RESTRUCTURING OF THE FORMER ORC GROUP, INCOME FOR THE QUARTER FROM OCTOBER TO DECEMBER WILL BE CHARGED WITH SUBSTANTIAL NON-RECURRING COSTS.

CEO TORBEN MUNCH COMMENTS:

"As previously announced during our meetings with investors, revenue for the quarter from July to September 2012 was down somewhat from the preceding quarter as result of challenging market conditions. Although revenue has fallen by nearly 10% during the past year, EBITDA-CAPEX for the last four quarters has held steady at around SEK 30m. This is mainly explained by the wind-up of group-wide functions and successful renegotiation of third-party agreements.

In November Orc launched an initiative mainly aimed at realizing the expected synergies from regionalization of customer service and adapting the sales and service organizations to the current market conditions. The number of employees will be reduced by around 20 and the office in Frankfurt will be closed. At the same time, Orc is continuing to invest aggressively in new products and services. After the reorganization, the number of employees active in the product and development organization will be around 100, i.e. close to half of all employees in the company.

Also in November, Orc successfully placed a EUR 60m five-year Senior Secured High Yield bond. The offering was fully subscribed already before completion of the management’s investor roadshow.

The market climate during the quarter from October to December remained weak. At the same time, the secured long-term financing together with the implemented organizational changes and cost adaptations provide excellent scope to continue developing and positioning Orc as a leading provider of technology and services for the global financial industry.”

About Orc

Orc is a leading provider of technology and services for the global financial industry. Since 1987, Orc delivers trading and market access solutions used by proprietary trading and market making firms, investment banks, hedge funds and brokerage houses worldwide.

Orc develops and provides the tools needed for running profitable trading or brokerage businesses in today’s competitive and ever-changing markets.

With market presence in all major global financial centers, Orc provides sales and support services from its offices across EMEA, the Americas and the Asia-Pacific regions.

Orc is owned by Cidron Delfi Intressenter AB, which in turn is owned by Nordic Capital Fund VII.

www.orc-group.com

N.B. The English text is a translation of the Swedish text. In case of discrepancy between the Swedish and the English text the Swedish version shall prevail.

This information was brought to you by Cision http://www.cisionwire.com

Nachrichten zu Orc Group AB

  • Relevant
  • Alle
  • vom Unternehmen
  • Peer Group
  • ?
Keine Nachrichten im Zeitraum eines Jahres in dieser Kategorie verfügbar.
Eventuell finden Sie Nachrichten, die älter als ein Jahr sind, im Archiv
Keine Nachrichten im Zeitraum eines Jahres in dieser Kategorie verfügbar.
Eventuell finden Sie Nachrichten, die älter als ein Jahr sind, im Archiv
Keine Nachrichten im Zeitraum eines Jahres in dieser Kategorie verfügbar.
Eventuell finden Sie Nachrichten, die älter als ein Jahr sind, im Archiv

Analysen zu Orc Group AB

  • Alle
  • Buy
  • Hold
  • Sell
  • ?
Keine Analysen gefunden.
mehr Analysen

Meistgelesene Orc Group News

Keine Nachrichten gefunden.
Weitere Orc Group News
Anzeige
Anzeige
Börse Stuttgart Anlegerclub

Stabile Dividendenaktien gehören in jedes Depot!

Die Investition in ausgewählte Blue-Chip-Dividendenaktien gehört zu den sichersten Strategien, um an den Aktienmärkten langfristig ein Vermögen aufzubauen. Dividendenaktien von hochkapitalisierten Unternehmen werfen langfristig höhere Renditen als der Gesamtmarkt ab und bieten einen guten Schutz in unsicheren Börsenzeiten. Wir stellen im aktuellen Anlegermagazin drei Aktien mit stabilen und attraktiven Dividendenrenditen vor.
Anlegermagazin kostenlos erhalten

Orc Group Peer Group News

Keine Nachrichten gefunden.

Heute im Fokus

DAX schließt im Plus -- Tesla überholt BMW -- Takata-Aktie im freien Fall: Insolvenzantrag steht kurz bevor -- AURELIUS verspricht mehr Transparenz -- METRO, Oracle im Fokus

Ölpreise nach jüngstem Preissturz etwas gestiegen. EU genehmigt Evonik Übernahme von Huber Silica. Apple will Musikkonzernen offenbar weniger zahlen. Kepler hält E.ON für zu teuer und rät zum Verkauf. EZB entwickelt bis 2018 System für Echtzeitzahlungen. Snap mit größtem Zukauf der Konzerngeschichte.

Top-Rankings

In diese Unternehmen investiert Amazon
Welche Unternehmen profitieren von Jeff Bezos?
KW 24: Analysten-Flops der Woche
Diese Aktien stehen auf den Verkauflisten der Experten
KW 24: Analysten-Tops der Woche
Diese Aktien stehen auf den Kauflisten der Experten

Umfrage

Wenn morgen Bundestagswahl wäre, wen würden Sie wählen?

Online Brokerage über finanzen.net

Das Beste aus zwei Welten: Handeln Sie für nur 5 Euro Orderprovision* pro Trade unmittelbar aus der Informationswelt von finanzen.net!
Zur klassischen Ansicht wechseln
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Goldpreis
Meistgesucht
Deutsche Bank AG514000
Daimler AG710000
Nordex AGA0D655
Apple Inc.865985
Volkswagen (VW) AG Vz.766403
CommerzbankCBK100
AURELIUSA0JK2A
AMD (Advanced Micro Devices) Inc.863186
TeslaA1CX3T
E.ON SEENAG99
EVOTEC AG566480
Deutsche Telekom AG555750
Amazon.com Inc.906866
BMW AG519000
Allianz840400