PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

80Corporate Situation: gildemeister Sharekey figures of the gildemeister share2010 2009 2008 2007 2006 2005 2004Registered capital € million 118.5 118.5 112.6 112.6 112.6 112.6 112.6Number of shares million shares 45.6 45.6 43.3 43.3 43.3 43.3 43.3Year-end price 1) € 16.70 11.33 7.85 18.50 9.60 5.89 5.20Annual high 1) € 17.19 11.69 23.38 22.80 9.75 6.39 8.98Annual low 1) € 7.53 4.25 4.79 9.20 5.86 4.82 4.98Market capitalisation € million 761.2 516.4 339.9 801.1 415.7 255.1 225.2Dividend € – 0.10 0.40 0.35 0.20 0.10 –Dividend total € million – 4.6 17.3 15.2 8.7 4.3 –Dividend yield % – 0.9 5.1 1.9 2.1 1.7 –Earnings per share 2) € 0.09 0.10 1.87 1.16 0.63 0.32 0.15Price-to-earnings ratio 3) € 185.6 113.3 4.2 15.9 15.2 18.4 34.7Cash flow per share 4) € 1.7 – 1.7 2.5 2.9 2.5 0.63 0.30Price-to-cash-flow ratio 5) € 9.82 – 6.66 3.14 6.37 3.84 9.35 17.331) xetra-based closing price2) Pursuant to ias 333) Year-end price / earnings per share4) Cash flow from operating activity / number of shares5) Year-end price / cash flow per sharebusiness reportCorporate SituationCapital increaseOn 15 March 2011 with the consent of the Supervisory Board, the gildemeister ExecutiveBoard resolved to carry out a capital increase with investment from Mori Seiki. Withinthe framework of this capital increase, the company’s registered capital will be increased,in part by the use of authorised capital, by € 11,851,320 through the issue of 4,558,200new, no-par value bearer shares (no-par value shares) in exchange for cash. The tenpercent capital increase will be carried out with the exclusion of subscription rights forexisting shareholders. The new shares from the capital increase were subscribed by MoriSeiki. The placement price amounted to € 18.22 per new share; this corresponds to a premiumof 27% measured against the volume-weighted average price of the gildemeistershare on the date of the resolution or 20% measured against the volume-weightedaverage of the last ten trading days.It is intended to carry out a second capital increase, subject to the actual capital marketenvironment promptly with the participation of all shareholders (subscription rights capitalincrease). Presumably it would comprise 20% of the then increased registered capital.By using authorised capital, the registered capital will be increased by € 26,072,904through the issue of 10,028,040 new no-par value bearer shares (no-par value shares)in exchange for cash.The shares from both capital increases will be fully entitled to dividends from1 January 2010. It is intended to quite predominantly use the net proceeds from the newissue to reduce financial liabilities and in this way to strengthen the gildemeistergroup’s equity basis. Moreover, the remaining part of the net proceeds from the issue ofthe new shares shall be to promote growth of the “Machine Tools” core business area andin “Services” as well as to build up the “Energy Solutions” segment.