- In three years MAB-listed companies have raised over €104 million in financing, €85 million from initial placements and €19 million in subsequent capital increases
- In 2011, the headcount of these companies increased 26% compared to 2010
- Between 2010 and 2011, turnover rose 46% and EBITDA 26%
- Most of the MAB-listed companies estimate over 20% growth in turnover and EBITDA for 2012. They also estimate a 5-20% increase in headcount
By the end of June, the 21 companies listed on MAB had raised over €104 million of new capital since joining the index, according to a report released today by MAB reviewing its third year of activity.
Amid a widespread credit crunch, MAB proved to be an effective financing tool for small companies seeking to expand. The companies have scarce financing alternatives at present and some see MAB as the only possible way of obtaining it to undertake their growth and international expansion plans, not only in the short but also the medium term.
We would note that in the first half of 2012, the financing obtained by MAB-listed companies through capital increases amounted to €11 million compared to the €8 million obtained during the whole of 2011.
These companies have also been able to create employment despite the crisis. Between December 2010 and December 2011, headcounts have risen 26% as a whole.
They have also fared well on the financial front despite the adverse backdrop. Between 2010 and 2011, turnover rose 46% and EBITDA increased 26%.
Overall, it can be said that MAB companies have become more international and more competitive despite the crisis. They have raised their profiles in all areas. The reputation gained by being listed has strengthened their positions vis-à-vis suppliers, clients, employees and competitors. Also important, the MAB has expanded their shareholder bases.
The study also gives an estimate of the future trend of some of the main indicators for all MAB-listed companies. In a survey carried out at the beginning of July, over 50% of the companies state that they estimate turnover growth of over 20%. Also, 30% of these companies estimate EBITDA growth of over 20% with 15% expecting increases of 5-20%. Meanwhile, 50% of the companies surveyed estimate a 5-20%, or higher, increase in headcount. The survey noted that half of the MAB-listed companies plan to carry out capital increases during the second half of 2012.
However, in recent months and due to the current economic climate, it has become increasingly difficult to attract investors to these companies, whose smaller size and lower liquidity make it necessary to offer investors tax incentives to share the risk and make financing more feasible. It is also imperative that specialised public-private funds or vehicles be set up to channel investment towards this group of companies.