Clere AG
Balda AG: Preliminary results 2014 / 2015: Sales revenues at 85.4 million EUR. Further value adjustments at US subsidiaries impact earnings
Balda AG / Key word(s): Preliminary Results/Final Results 01.09.2015 19:09 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Bad Oeynhausen, 1 September 2015 - The Balda AG has submitted the preliminary results for the business year 2014 / 2015. Accordingly, Balda AG substantially exceeded its target sales figures and is thus beyond its adjusted forecast again: Group sales revenues amounted to 85.4 million EUR following 70.5 million EUR in the same period during the previous year, corresponding to a 21.1 % growth. This rise is attributable to increased product sales (9.2 million EUR) and currency effects (5.7 million EUR). The plant and tooling sales relevant for future growth were at a similar level as the previous year, at 11 million EUR. Before special items, the company generated earnings before interest, taxes, depreciation and amortization (EBITDA) in the amount of about 6.4 million EUR (previous year: 4.0 million EUR) and generated an EBITDA margin of about 7.7 % of the total performance. Taking into account scheduled amortization and before special items, the operating result (EBIT) was about 1.3 million EUR (previous year: -0.9 million EUR). The operating result was once more impacted by special items that amounted to about 13.5 million EUR in the business year 2014 / 2015 (previous year about 3.8 million EUR). Due to the imminent termination of the cooperation with the large-scale customer in the Eyewear sector, long-term assets in the amount of 8.6 million had to be adjusted for value. Legal disputes with former officers and the sellers in the US caused expenditure in the amount of 2.4 million EUR. Further one-off items and items on a non-accrual basis accounted for further expenditure of 2.5 million EUR on the balance sheet. As a consequence of these special factors, Balda AG was not able to generate the forecast positive annual result. After special items, the EBITDA is at 1.5 million EUR after 1.9 million EUR in the previous year and the overall group loss is -7.7 million EUR (previous year: earnings of 5.9 million EUR). This reflects the lower financial result, especially due to the lower interest and currency results. Sales revenues growth to approximately 90 million EUR is forecasted for the current business year. It is surmised that currency exchange effects will have no substantial impact. This growth will contribute to further improving the operating result. A positive operating EBIT with an EBIT margin in the single digit range is expected. Apart from the costs associated with the imminent site clearance in the US at a budget of 1 to 2 million EUR, the cost of the court proceedings remains a relevant impact on the group result that is difficult to predict. The annual report 2014 / 2015 of Balda AG will be published on 28 September 2015 and can be downloaded on our Website: www.balda-group.com/de. Contact Michael Pfister Deekeling Arndt Advisors Phone: +49 (0) 5734 922 2555 Mobile: +49 (0) 160 90560506 Mail: michael.pfister@deekeling-arndt.de About Balda Balda (ISIN: DE0005215107) 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 780 people, is based on the deployment of leading-edge, cost-effective technologies, coupled with the trust-based and close collaboration with customers. www.balda-group.com 01.09.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- 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: ir@balda-group.com Internet: www.balda-group.com ISIN: DE0005215107 WKN: 521510 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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