DGAP-Adhoc: Balda AG: Balda AG sees further growth
26.04.2006
Balda AG / Key word(s): Quarter Results
26.04.2006 07:46
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Balda AG sees further growth
– Sales surplus of 14.7 percent
– Special effects from investments into the future adversely effect
the net income situation
– EBT with 6.4 million euro (previous year: 9.3 million euro) fully
according to budget
– Quarterly surplus of 4.0 million euro (previous year: 6.1 million
euro)
In the first quarter of 2006, the Balda Group increased its revenues by
14.7 percent to 92.7 million euro compared with the corresponding period
last year (previous year: 80.8 million euro).
Sales in the European manufacturing locations increased in the first
quarter by 14.1 percent to 61.8 million euro (previous year: 54.1 million
euro). In Asia proceeds jumped 28.0 percent to 28.0 million euro (previous
year: 21.8 million euro). In South America sales fell by 40.8 percent to
2.9 million euro (previous year: 4.9 million euro).
The operating result (EBIT) in the first quarter was 7.3 million euro
(previous year: 10.2 million euro) – a 28.7 percent drop. Results in the
first quarter nevertheless completely reflect expectations. While drafting
the budget, it became clear that the exceptional result of the
corresponding period last year was a one-off. In addition, special effects
have left their mark in the first quarter in 2006. The costs of the
full-scale expansion of the new Beijing location, which only had an effect
on the output of goods at the end of the quarter under review, and expenses
incurred for expanding tool-making operations in Suzhou, are investments
into the future. Furthermore, additional costs were incurred in Hungary. In
total these factors adversely affected the result to the tune of 1.9
million euro, and their effects had already been anticipated in the budget.
As was expected, the contribution to operating income of the European
locations fell to 3.8 million euro (previous year: 4.2 million euro). The
above-mentioned effects gave rise to a fall in profits to 3.2 million euro
for the companies in Asia (previous year: 5.4 million euro). The EBIT of
the plants in South America fell slightly to 0.3 million euro (previous
year: 0.6 million euro). The EBIT margin in the first quarter was 7.3
percent compared with 12.4 percent in the extraordinarily strong period
under review in 2005. Without the special effects, the Group would have
almost achieved a double-digit EBIT margin in the first quarter of 2006.
The pre-tax result was 6.4 million euro (previous year: 9.3 million euro).
The EBT margin was 6.5 percent (previous year: 11.2 percent). Without the
special effects, the EBT margin would have been 8.4 percent. The higher
share of the German locations in the pre-tax result gave rise to a tax rate
increase to 26.2 percent (previous year: 20.3 percent). This effect
influenced the quarterly surplus of 4.0 million euro, which fell by 34.7
percent (previous year: 6.1 million euro). On the basis of 40.16 million
shares (status as per 31 March 2005), the surplus gives rise to basic
earnings of 0.10 euro per share. In the previous year, the comparative
figure of 0.154 euro was calculated on the basis of 39.76 million shares.
The acquisition of the remaining 50-percent interest in Balda-Thong Fook
Solutions has not influenced the results of the first quarter.
Due to the net income for the period, the Balda Group further improved the
equity ratio in the period under review in absolute terms as well as in
relation to the balance sheet total to 49.9 percent (year-end 2005: 49.1
percent).
Balda plans to set up a manufacturing facility in Chennai, India, with the
production start in the middle of the year. It is envisaged that up to 10
million euro be made available for investments. The Board has confirmed the
projected sales growth for 2006 of about 15 percent to 450 to 460 million
euro. The pre-tax result (EBT) shall be in the region of 46 to 48 million
euro.
If you have any questions please contact us: Balda AG, Cersten Hellmich and
Kathrin Wiederrich (Investor Relations), Tel.: +49 (0)5734 9222706 /
9222751, Facsimile: +49 (0)5734 9222691, e-mail: chellmich@balda.de,
kwiederrich@balda.de, Internet: www.balda.de
If you have any questions please contact us: Balda AG, Cersten Hellmich and
Kathrin Wiederrich (Investor Relations), Tel.: +49 (0)5734 9222706 /
9222751, Facsimile: +49 (0)5734 9222691, e-mail: chellmich@balda.de,
kwiederrich@balda.de, Internet: www.balda.de
26.04.2006 DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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 Announcement DGAP News-Service
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