. Le chiffre d'affaires de MIC a atteint 5,4 M d'euros en 2005
. SPS développera la rentabilité de son activité en Espagne, en participant, à partir de son intégration, à tous les niveaux de son compte des résultats
. L'acquisition s'est concrétisée pour 3,5 fois l'EBITDA de MIC en 2005
. Cette opération fait partie de la stratégie que Service Point avait lancée il y a deux ans afin de consolider son positionnement de leader dans le secteur. Depuis, la filiale espagnole a multiplié sa taille par trois.
Barcelona, 10 May 2006 – Service Point Solutions (SPS.MC, www.servicepoint.net), through its Spanish subsidiary Service Point Facilities Management Ibérica, has acquired the digital reprographics and document management business of Madrid-based MIC Print.
MIC is a leading company in its segment in the central region of Spain. The company focuses its activity on the AEC sector, and has around 500 clients including some of the principal engineering, architecture and construction firms. The majority of its sales are recurrent. The company has one service centre in Paseo de la Castellana, Madrid, and has 43 employees.
MIC Print's business model focuses on construction and infrastructure projects, markets in which the company has developed a unique range of value added services. This has created a high level of client confidence and loyalty, which is reflected in the high recurrent sales levels especially with the principal engineering and construction companies in the country.
With the acquisition of MIC Print, Service Point will be able to strengthen its leadership at a national level as well as within the AEC market, a sector in which it is already in a leading position in the United Kingdom and United States. Additionally, the incorporation of MIC Print's business will contribute to a strong increase in the sales, Ebitda and net profit of SPS's Spanish subsidiary.
With the acquisition of MIC Print, SPS's sales in Spain will rise from 9.5% to 14% of total sales, thus increasing sales in the Euro-zone.
| Geographical distribution of SPS sales 2005 | |
| Reino Unido | 60.2% |
| Estados Unidos | 29.9% |
| España | 9.5% |
| Alemania | 0.4% |
| Geographical distribution of SPS sales 2005 with MIC | |
| Reino Unido | 57.8% |
| Estados Unidos | 27.8% |
| España | 14.0% |
| Alemania | 0.4% |
MIC Print will provide a positive contribution at all levels of the profit and loss account from the moment of acquisition, as shown in the following graphs:
Sales
| SPS 05 | SPS 05 + MIC | Variation |
| 99.5 | 105 | + 5.4 % |
Ebitda
| SPS 05 | SPS 05 + MIC | Variation |
| 15.5 | 17.2 | + 11 % |
Ebit
| SPS 05 | SPS 05 + MIC | Variation |
| 5.9 | 7.5 | + 27.3 % |
With regard the economics of the transaction, the acquisition has been carried out at a multiple of 3.5 times 2005 Ebitda, in line with the investment criteria set by the company.
According to Rafael López Aparicio, SPS's Chief Executive Officer: "This acquisition marks the end of an important stage on which we have been working for the last two years, the Spanish subsidiary has tripled in size and has achieved an attractive profitability at all levels of the profit and loss account. Likewise, the incorporation of MIC has a significant impact on our consolidated profit and loss account as it will contribute double digit improvement in our annualised Ebitda, in order to continue creating value for the shareholders of the company."
Service Point Solutions (www.servicepoint.net) provides digital reprographics and document management services mainly to the AEC sector (architects, engineers and construction companies). It employs more than 1,100 people in 4 countries and has a total of 70 service centres in its international network, more than 40 Facility Management centres and more than 400 OSS programs (on-site services). SPS is headquartered in Spain and is quoted on the Spanish stock market.
For additional information, contact:
Service Point Solutions S.A.
Cori Pellicer
[email protected]
Tel +34 93 5082400
Fax +34 93 5082442
Newsline
Miguel Ramos
[email protected]
Tel +34 93 5806459
Fax +34 93 5808854
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