AURELIUS Equity Opportunities reports continued strong numbers in the first half of 2021 - Disproportional increase in operating EBITDA

- Disproportional 63% increase in operating EBITDA to EUR 122.4 million reflects the continued highly positive performance of the Group's portfolio companies

- Net asset value rises 14% over year-end 2020, net asset value per share reaches EUR 38.46

- Investment focus broadened, already seven company acquisitions in the current financial year

- Transparency initiative progresses further

Munich, August 12, 2021 - AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) published its interim consolidated financial statements for the first half of 2021 on today's date. Total consolidated revenues increased slightly to EUR 1,659.1 million (H1 2020: EUR 1,628.0 million). Annualized consolidated revenues from continued operations reached EUR 2,736.1 million (H1 2020: EUR 1,989.3 million).

Disproportional 63% increase in operating EBITDA to EUR 122.4 million reflects the continued highly positive performance of the Group's portfolio companies

The already good operating EBITDA of the first quarter was surpassed again in the second quarter, leading to an operating EBITDA of EUR 122.4 million in the first half of 2021 (63% higher than EUR 75.3 million in H1 2020). Despite the restrictions associated with the protracted coronavirus pandemic, the Group's portfolio companies performed very well on the whole. The strong operating performance was particularly driven by the new Group companies Zentia, GKN Wheels & Structures, Nedis and Distrelec, which were acquired in the 2020 financial year, and by the existing portfolio companies VAG and Rivus Fleet Solutions.

At EUR 124.1 million, the EBITDA of the combined Group was less than the corresponding year-ago figure of EUR 258 million. This decrease is attributable to the much lower gains on bargain purchases of EUR 0.6 million compared to the first half of last year (H1 2020: EUR 145.0 million). Restructuring and non-recurring expenses of EUR 36.5 million were incurred for the restructuring of Group companies, that being 18% less than in the comparison period (H1 2020: EUR 44.4 million). Gains of EUR 37.6 million (H1 2020: EUR 82.1 million) were generated on company exits. This amount also includes the gain on the sale of Office Depot Italy completed in the first quarter of 2021.

Net asset value rises 14% over year-end 2020

In a clear reflection of the positive operating performance, the portfolio's net asset value rose to EUR 1,145.0 million, that being 14% higher than the corresponding figure at the end of the 2020 financial year (EUR 1,002.5 million). Thus, the net asset value per share reached EUR 38.46 (December 31, 2020: EUR 33.67). At June 30, 2021, cash and cash equivalents amounted to EUR 272.1 million (December 31, 2020: EUR 422.9 million) and the equity ratio came to 23.1% (December 31, 2020: 21.3%).

Investment focus broadened, seven company acquisitions already in the current financial year

The investment focus of AURELIUS Equity Opportunities SE & Co. KGaA, which had previously been limited to platform investments and add-on acquisitions to strengthen existing platforms, was broadened to include a third element, co-investments, in the first half of 2021. These co-investments are conducted in conjunction with the newly created AURELIUS European Opportunities Fund IV. AURELIUS was active in all three of these areas in the first half of 2021. As the first new platform investment, HÜPPE GmbH, a leading European supplier of bathroom equipment, was acquired in late May 2021. This transaction was followed in early July 2021 by the announcement of the acquisition of the Belgian company Norsk Hydro Precision from the Norsk Hydro Group. This company is an internationally leading supplier of welded aluminum pipes for industrial products, heating, ventilation and air conditioning systems (HVAC), and the automotive industry. This transaction is expected to close in the third quarter and is therefore not yet included in the current semiannual results. In the area of add-on acquisitions, the Conaxess Trade Group acquired the Swedish Movement Group, the Berlin-based scaffold builder BPG Building Partners Group acquired GSB Gerüstbau, and AutoRestore was acquired as an affiliate of the British company Rivus Fleet Solutions. All three add-on acquisitions were completed in late March 2021. Under the new co-investment program, the acquisitions of Panasonic's European consumer battery business (today: Advanced Power Solutions) and the British company SSE Contracting Limited, a leading contracting business for services in the sectors of mechanical engineering and electrical engineering, were successfully completed.

As part of the strategic decision to consolidate the businesses, amongst other things, negotiations are currently being conducted with various investors to sell the remaining activities of Office Depot Europe. Therefore, they were reclassified to discontinued operations as of June 30, 2021.

Transparency initiative progresses further

The transparency initiative launched in 2020, which encompasses comprehensive measures to improve corporate governance and transparency, will be further expanded in the course of the current year. Last year's reorganization of supervisory bodies allows for the more efficient governance of management systems and also reflects the weight of international institutional investors in AURELIUS. In addition, the Supervisory Board's control activities were further professionalized by the formation of specialized committees. The future compensation of board members has already been converted from carried-interest sub-investment bonuses to co-investment shares and stock options. The revenue and earnings numbers of the portfolio and its net asset value are now broken down and explained in greater detail, as in the 2020 Annual Report and the Q1 2021 financial statements. Beginning in the third quarter of 2021, AURELIUS will also publish a quarterly report, including a consolidated statement of comprehensive income and a consolidated statement of financial position.

"The transparency initiative launched in 2020 is a decisive step to provide the best possible support to the next phase of our company's international growth. It is therefore important and right that we continue to pursue this initiative in 2021. Shareholder value is always at the center of our work," said Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA.

Outlook: Positive operating performance to continue, additional company acquisitions and exits expected

"Our good start to the year continued in the second quarter. We have already successfully implemented some of our acquisition projects, adding highly promising new companies to our portfolio. We are also pleased with the very good operating performance of our portfolio companies. As we had expected, a number of attractive investment opportunities have emerged in 2021. Thanks to our robust financial and operational position, we are ideally equipped to take advantage of these opportunities. I am very optimistic about the further course of the 2021 financial year," said Matthias Täubl, CEO of AURELIUS Equity Opportunities SE & Co. KGaA.

Key figures

1) The consolidated statement of comprehensive income and the consolidated statement of cash flows from last year have been adjusted for comparison purposes in accordance with IFRS 5.

2) From continued operations.

3) Including non-controlling interests.

Net asset value of the AURELIUS portfolio (in EUR millions)

ABOUT AURELIUS

AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid, Amsterdam and Luxembourg. Since it was founded in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.

Key investment platforms are AURELIUS European Opportunities Fund and the exchange-listed AURELIUS Equity Opportunities SE & Co. KGaA ("AEO"; ISIN: DE000A0JK2A8, ticker symbol: AR4), which invests in corporate carve-outs and companies with development potential in the mid-market segment (Fund) and in the lower mid-market segment (AEO). An essential aspect of the investment strategy is the operational support of the portfolio companies with a team of around 100 in-house operating task force experts.

AURELIUS Group also operates in the areas of growth capital, real estate opportunities and alternative debt solutions. AURELIUS Growth Capital invests in leveraged buyouts in small and mid-market succession situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to firms across Europe.

With its Group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support to refugees on their way towards a better life.

To find out more, visit www.aurelius-group.com

CONTACT

AURELIUS Group
Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799 - 0
Fax: +49 (89) 544799 - 55
E-mail: investor@aureliusinvest.de