Balda AG / Key word(s): Preliminary Results/Final Results
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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:
Deekeling Arndt Advisors
Phone: +49 (0) 5734 922 2555
Mobile: +49 (0) 160 90560506
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.
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Company: Balda AG
Bergkirchener Str. 228
32549 Bad Oeynhausen
Phone: +49 (0) 57 34 / 9 22-0
Fax: +49 (0) 57 34 / 9 22-2604
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
End of Announcement DGAP News-Service