mic AG achieves record results in 2010 financial year
- Revenues climb to EUR 8.5 m
- Annual net profit reaches EUR 5.1 m
- Earnings per share at EUR 1.57
- Equity rises to EUR 16.5 m
- Positive outlook for 2011
Munich-based venture capital specialist, mic AG, is looking back on the best year in its history. According to preliminary, as yet unaudited figures, the company achieved revenues of EUR 8.5 m* for the 2010 financial year. The results represent a year-on-year revenue growth of 21.6 percent, breaking the existing record set in 2009. The annual net profit increased from EUR 4.27 m to EUR 5.1 m*, also a new peak. Earnings per share amount to EUR 1.57, with 3.255 m shares outstanding.
This success in the operational business also has a positive impact on the - already solid - balance sheet of the early-phase investor. mic AG's equity increased from EUR 8.78 m to EUR 16.5 m or EUR 5.07 per share during 2010. With a balance sheet total of EUR 19.8 m* (2009: EUR 11.8 m), this equates to a high equity ratio of 83.3 percent (2009: 74.4 percent).
The most important milestone in the 2010 financial year was the sale of the majority interest in AIFOTEC FIBEROPTICS GmbH for a sum in the high one-digit millions. The producer of fiberoptic components for optical data communication had been part of mic's portfolio since 2002 and in this time established itself as a cooperation partner for well-known manufacturing companies. Additionally, in the fourth quarter of 2010, shares of 4DForce GmbH were sold to an investor for the price of EUR 1 m. mic AG continues to hold more than 75 percent of the promising subsidiary, which develops products that capture and analyse of brain waves.
"By surpassing the record numbers from 2009, we have reached our ambitious goal for 2010", says Manuel Reitmeier, mic's CFO. "These figures give striking evidence that our business model enables sustainable above-average rates of return. In addition, we strengthened our portfolio in 2010 with new shareholdings in Flores Solar Water GmbH and Rogue Resolutions Ltd., forming a basis for further positive developments in the coming years", adds Claus-Georg Müller, mic's CEO.
The outlook for the current year is positive. "We are very confident that we will be able to announce a partial exit during the first half of the year. Moreover, we are planning one or two bigger partial or outright sales. In terms of financial figures for the current year, we are hoping to again surpass the record figures reached in 2010", says Claus-Georg Müller.
As an early-stage investor, Munich-based mic AG mainly invests in - and partly co-founds - companies from the communication, medical and microsystems technology sectors, as well as, from the fields of fibreoptics and cleantech. It currently holds investments in twelve companies with a total value in the lower double-digit millions. mic AG has been listed in the Entry Standard segment of the Frankfurt Stock Exchange since October 2006.