DGAP-Adhoc: Balda AG: Positive results all along the line in the first quarter 2009
06.05.2009
Balda AG / Key word(s): Quarter Results
06.05.2009 07:58
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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– Revenues in the Infocom business increase by 2.3 million euros to 27.9
million euros
– EBITDA at 4.7 million euros growing significantly
– Positive EBIT of 1.8 million euros
– Significant EBT-plus to 2.2 million euros
– Operative cash-flow of 4.7 million euros
– Goal 2009: Profit or balanced result at minimum
Bad Oeynhausen, 6 May 2009 – Balda AG, listed in the Prime Standard of the
Frankfurt Stock Exchange, has achieved a very good result development in
the first three months of 2009. The company earned in its continued
operations sales revenues amounting to 27.9 million euros. Adjusted for the
holding in the touch screen producer TPK this corresponds to a plus of 2.3
million euros or 9.0 percent in comparison to the same period of the
previous year. This increase is above all due to the results of the
production plants in the China region.
The Balda Group recorded with 4.7 million euros a significant plus of
earnings before interest, taxes and depreciation (EBITDA) (previous year:
0.5 million euros). While the depreciation on tangible and intangible
assets increased slightly by 0.5 million euros compared to previous year’s
value of 2.9 million euros, the other operating expenses declined by 2.1
million euros to 5.4 million euros. The Group’s operating income (EBIT) had
a positive outcome of 1.8 million euros (previous year without
TPK-participation: minus 1.1 million euros). The Group’s EBT amounted to
2.2 million euros in the continued operations after the first three months
of the current financial year (previous year: minus 2.8 million euros
without TPK).
Revenue development
The revenue contribution of the China region amounted to 21.9 million
euros. Adjusted for the TPK effect, previous year’s value adds up to 8.7
million euros. Hence, China contributes the lion share to the Group’s
turnover with 78.8 percent in the first quarter 2009. The region Malaysia
with 5 million euros stays behind last year’s revenues of 16.7 million
euros. The shift of sales revenues from Malaysia to China reflects a
customer’s business transfer.
The Balda Group recorded in the continued operations a net profit for the
current quarter of 1.8 million euros (previous year: minus 6.2 million
euros). The earnings per share on the basis of 54.157 million shares in the
continued operations of the Group are 0.092 euros (previous year: minus
0,009 euros).
The discontinued operations of the Balda Group achieved a consolidated
profit of 3.2 million euros (previous year: 5.8 million euros). It is made
up of payments of the BenQ insolvency administrator as well as of the
earnings from Balda Medical.
At 308.4 million euros, the total assets of the Balda Group at 31 March
2009 are slightly above the reference value of the 2008 yearend of 300.4
million euros.
The Balda Group had equity capital of 114.2 million euros (without
minorities) at its disposal at the end of the first quarter of 2009 (2008
financial statement date: 98.2 million euros). This is an improvement in
the equity capitalization of 16.0 million euros. The equity ratio of the
concern amounts to 37.0 percent in the report period after 32.7 percent at
the end of 2008.
Net-financial liabilities of the Group were reduced from 102 million euros
at year-end 2008 to 98.3 million euros.
Despite the successful first quarter 2009 with growth in sales and profits,
the Balda Group remains only cautiously optimistic for the current
financial year. Developments in the global mobile phone markets in
particular point to declining demand in 2009. Balda cannot escape this
development entirely. However, the Group aims at winning new customers and
markets. In keeping with the ongoing strategic expansion within the
proximity of the customers, the Group is planning to open sales offices in
Tokyo, Japan and in Seoul, Korea, over the course of the next three to six
months, this after the already operating offices in Lund, Sweden, as well
as in Taipei, Taiwan. Even in the case of declining sales, Balda’s target
corridor for 2009 will continue to be a balanced result at minimum.
Key figures in table on next page
***
Table with figures to the first quarter 2009
Balda Group overview (continued operations)
in million euros
1. quarter 1. quarter 2008 1. quarter 2008
2009 with TPK without TPK
Revenues 27.9 34.9 25.6
China 21.9 18.0 8.7
Malaysia 5.0 16.7 16.7
India 0.9 0.2 0.2
Total operating result 29.2 41.1 28.4
EBITDA 4.7 0.5 1.2
Earnings before interest and 1,8 -5,0 -1,1
tax (EBIT)
EBIT-margin (in %) 6,1 -12,2 -4,0
Earnings before tax (EBT) 2,2 -7,0 -2.8
quarterly result 1,8 -6.2 -2.0
quarterly result including 5.0 -0.5 3.8
discontinued operations
earnings per share (in cent) 9.2 -0.9 7.0
1
Employees 2 4.802 5.983 4.563
1) Number of shares on cutt-off date (in mio.): 54.157 (reference date:
54.157)
2) Number of employees including loan workers, temporary workers and
apprentices – continued operations only
Company profile Balda AG
The Balda Group develops and produces highly integrated devices comprising
plastic and electronic components, primarily for the telecommunications
sector. In addition, the company manufactures high-tech equipment such as
headphones and hands-free sets.
The future is derived from past experience. Balda has developed an active
culture of continuous transformation through the traditions established
within the hundred years of its existence. Since its founding, innovation
and technology have been the significant driving forces of progress and the
guarantors of corporate success. Today, Balda is an internationally
positioned high-tech company with innovative products and a high
performance capacity.
Balda AG, which is registered in the Prime Standard on the German Stock
Exchange, services international brand-name clients in the mobile
telecommunications sector, medical technology and other similar markets.
The Group produces close to its customers’ locations in the expanding
growth markets. With four production facilities, the Group has a strong
position in China and Malaysia.. Within the framework of a shareholding in
a leading producer of touch screens in China, Balda is participating in the
dynamic development in the touch-sensitive display sector.
The vision was and is clear: Balda will strengthen its technological
innovations potential and further expand in the promising growth regions of
Asia. Balda will thus achieve the conditions for profitable growth and a
sustainable increase in added value.
* * *
If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49
5734 922 2728, Fax: +49 69 710456450. Email: croehl@balda.de, Internet:
www.balda.de
* * *
This ad hoc announcement includes ‘forward-looking statements’ which are
based on the current expectations of the management of Balda. They are
subject to risks and uncertainty because they relate to events and depend
on circumstances that will occur in the future, such as, for example,
developments in the mobile communications industry, changes in technology
and the ability to timely and successfully develop new products and various
other factors. Balda does not undertake any obligation to update publicly
or revise forward-looking statements except to the extent legally required.
This ad hoc announcement is not an offer of securities for sale or a
solicitation of an offer to purchase securities in the United States or
elsewhere. The shares in Balda AG (the ‘Shares’) may not be offered or sold
in the United States or to or for the account or benefit of U.S. persons
(as such term is defined in Regulation S under the U.S. Securities Act of
1933, as amended (the ‘Securities Act’)) unless registered under the
Securities Act or pursuant to an exemption from such registration. The
Shares have not been and will not be registered under the Securities Act.
06.05.2009 DGAP’s Distribution Services include Regulatory Announcements,
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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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