DGAP-Adhoc: Balda AG: Main eyewear customer will start to produce themselves by mid-2016
12.06.2015
Balda AG / Key word(s): Miscellaneous
12.06.2015 19:47
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.
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Bad Oeynhausen, 12. June 2015 – Balda AGs main customer in the eyewear
sector has informed the company today that due to an internal strategic
decision they will be manufacturing their products by themselves in the
future, which are now in substantial parts being produced by Balda’s US
company Balda C. Brewer, Inc. During the transformation process higher
sales revenues are expected initially, however these will largely come to
an end starting mid-2016. Regarding the annual financial statement as of
30.06.2015 Balda is expecting an impairment of intangible assets in the
context of the acquisition of Balda C. Brewer, Inc. as well as one time
expenses due to the restructuring process. The exact amount of the value
adjustment and the consequences on the consolidated net income of the
current financial year 2014 / 2015 as well as the subsequent years are
under review.
The share of this customer on sales revenues amounts to appox. 10 %. The
decrease in sales revenues will primarily come into effect beginning of the
financial year 2016 / 2017 and will slow down the growth of the group.
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 800 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
12.06.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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: 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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