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| Datum : | 14.05.2014 |
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DGAP-News: Balda AG: Stable growth during first nine months of 2013 / 2014 |
| Meldung : | DGAP-News: Balda AG / Key word(s): 9-month figures/Quarter Results Balda AG: Stable growth during first nine months of 2013 / 2014 14.05.2014 / 07:32 --------------------------------------------------------------------- * Consolidated revenue of EUR 51.0 million after first three quarters * EBITDA of EUR 1.3 million * EUR 10.4 million of consolidated net income after tax * FY 2013 / 2014 forecast confirmed: consolidated revenue between EUR 70 million and EUR 80 million and positive net result (excluding extraordinary items) * Operating cash flow risen significantly to EUR 6.8 million after previous year's EUR -0.6 million Bad Oeynhausen, 14 May 2014 - In the third quarter the operating development of Balda AG has been slightly below expectations due to lesser customer demand. Nevertheless, the company earned a total of EUR 51.0 million in revenues after EUR 39.6 million in the year prior. "The financial year 2013 / 2014 is a year of transition for Balda AG, in which our central focus lies on the complete integration of our US companies. This process has by now been almost fully completed and we can now extensively use our value chain, expand our distribution activities, and farther utilize our potential - across the globe. As an integrated provider of plastics solutions with the focus on healthcare, eyewear, automotive, and other markets, we will profit significantly from changes in society as well as technology" states Oliver Oechsle, Chief Operating Officer of Balda AG. "We still remain on our defined growth track, even though customer demand has put our revenue of EUR 51.0 million slightly below expectations. On the other side we are pleased with the development of our operative cash flow, which has risen considerably to EUR 6.8 million after EUR -0.6 million in the previous year." elaborates Dr. Dieter Brenken, Chief Financial Officer of Balda AG. Key sales and earnings figures of the Balda Group for the first nine months of financial year 2013 / 2014 The company has remained on its growth track between July 2013 and March 2014. Due to a lesser seasonal customer demand, however, the operational development is slightly below expectations. In the third quarter of 2013 / 2014 consolidated earnings stood at EUR 16.1 million, after the quarters the total earnings amounted to EUR 51.0 million (year prior: EUR 39.6 million). This rise is attributable to the complete consolidation of the US-acquisitions at the end of 2012. Balda generated a profit before interest, tax, depreciation and amortization (EBITDA) from its continuing operations of EUR 1.3 million in the reporting period following a loss of EUR -0.6 million in the previous year. After tax, the Group reports EUR 10.4 million of earnings from its continuing operations (comparable period: EUR 11.9 million). Performance of the operating segments With its Balda America segment the company generated EUR 29.2 million sales revenue in the first nine months of 2013 / 2014 and in the prior year period EUR 11.6 million. In the current reporting period the US companies are fully integrated while in the previous year only three months were consolidated. The segment EBITDA stood at EUR 1.7 million (prior-year period: EUR 0.2 million). The segment Europe generated EUR 21.9 million of sales revenue for the period under review (previous year: EUR 28.0 million). The segment reported a slight loss of EUR -0.3 million at the EBITDA level (prior year period: profit of EUR 0.5 million) due to extraordinary items. General holding company costs led to a slight loss of EUR -0.1 million at the EBITDA level in the Other segment after EUR -0.4 million in the previous year. Outlook The Management Board is retaining the forecasts for the full 2013 / 2014 year: Assuming that macroeconomic conditions do not deteriorate significantly and barring any other unforeseeable adverse effects that have a material impact on the Balda Group, the company assumes that it will generate consolidated sales revenue in the EUR 70 million to EUR 80 million range, accompanied by a single-digit EBITDA margin and a profit. Earnings are strongly dependent on currency effects. For additional information, please see the section entitled "Opportunities and anticipated developments" in our Annual Report for the 2012 / 2013 financial year. Further and more detailed information can be found on the website of Balda AG: www.balda-group.com Contact Michael Pfister Deekeling Arndt Advisors Tel: +49 (0) 5734 922 2555 Mail: michael.pfister@deekeling-arndt.de About Balda Balda is a provider of first-class solutions in plastics for demanding, high-quality applications in the fields of healthcare, lifestyle, automotive and consumer electronics industries. Balda has operating divisions in Europe and America and maintains state-of-the-art production facilities at its headquarter in Bad Oeynhausen, Germany as well as in the USA. The success of Balda, which employs around 700 people, is based on the deployment of leading-edge, cost-effective technologies, coupled with the trust-based and close collaboration with customers. The Balda AG share (ISIN: DE0005215107) is listed on the SDAX segment of Deutsche Börse. www.balda-group.com www.balda-medical-group.com End of Corporate News --------------------------------------------------------------------- 14.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- Language: English Company: Balda AG Bergkirchener Str. 228 32549 Bad Oeynhausen Germany Phone: +49 (0) 57 34 / 9 22-0 Fax: +49 (0) 57 34 / 9 22-2604 E-mail: info@Balda.de Internet: www.balda.de ISIN: DE0005215107 WKN: 521510 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 268224 14.05.2014 |
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