DGAP-News: Balda AG / Key word(s): Quarter Results/9-month figures
Balda AG: Significant sales revenue growth, EBIT burdened by
12.05.2015 / 07:36
– Revenue up by EUR 10.9 million to EUR 61.9 million during first nine
– EBITDA (EUR 2.8 million) and EBIT (EUR -0.8 million) burdened by EUR
2.4 million of extraordinary items
– CEO Oliver Oechsle: “Balda on a solid growth course”
– FY 2014 / 2015 sales revenues forecast raised to between EUR 80 and 82
million, with EBIT growth before extraordinary items
Bad Oeynhausen, 12 May 2015 – Balda AG posted consolidated revenue of EUR
61.9 million in the nine months of its 2014 / 2015 financial year compared
to EUR 51.0 million in the equivalent period of the previous year. This
growth is primarily attributable to exchange rate effects and to a higher
demand for products in both the America and Europe segments. Earnings
before interest and taxes (EBIT) were nevertheless burdened by
extraordinary items (EUR 2.4 million).
“The marked sales revenues growth shows that we have proved convincing on
the market with our high product quality and reliability, once again
confirming the confidence that our customers have in us,” explains Oliver
Oechsle, CEO of Balda AG, adding, “This is precisely the right direction to
be heading in achieving successful long-term development and growth.”
Key revenue and earnings figures for Balda Group in first nine months of
2014 / 2015
Following total sales revenues of EUR 20.7 million in the first quarter and
EUR 19.7 million in the second quarter, Balda continued this positive trend
in the third quarter with sales revenues of EUR 21.4 million. Overall,
Balda AG generated EUR 61.9 million of consolidated sales revenues,
equivalent to growth of EUR 10.9 million, or 21.4 %, compared with the
reference period (previous year: EUR 51.0 million). A markedly higher level
of customer orders resulted in this growth.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
after extraordinary items reached EUR 2.8 million in the July 2014 to March
2015 reporting period (before extraordinary items: EUR 5.2 million),
compared with EUR 1.3 million in the prior-year period (before
extraordinary items: EUR 1.8 million), reflecting a 4.6 % EBITDA margin
after extraordinary items. Extraordinary items impacted EBIT, which
amounted to EUR -0.8 million after the first nine months of 2014 / 2015
(previous year: EUR -2.4 million). Before extraordinary items, EBIT was
positive to the tune of EUR 1.6 million during the period under review
(previous year: EUR -1.9 million). The one-off extraordinary are primarily
attributable to known legal disputes. They arose in particular from
provisions for ongoing management costs in the USA and an increase in the
risk provision for litigation costs.
Balda reports earnings after taxes of EUR 4.5 million for the July 2014 to
March 2015 period. This lies significantly ahead of the previous year’s EUR
10.4 million, and is primarily due to a lower level of financial and tax
Operating segments’ performance
The America segment recorded 16.4 % sales revenues growth to a level of EUR
34.0 million in the period under review (previous year: EUR 29.2 million).
Segment EBITDA of EUR 1.2 million nevertheless fell short of the previous
year’s EUR 1.7 million, which is also due to extraordinary items. This is
also clearly identifiable in EBIT of EUR -0.9 million compared with the
previous year’s EUR -0.4 million.
The Europe segment reported significant sales revenues growth of 26.9 %
during the first nine months of the year, climbing from EUR 21.9 million in
the reference period to EUR 27.8 million. Segment EBITDA of EUR 1.9 million
is also significantly above the previous year’s EUR -0.3 million.
Operating earnings also grew, with Balda generating segment EBIT of EUR 0.5
million, compared with EUR -1.9 million in the previous year.
In the Other segment, higher costs, including in connection with the
closure of the subsidiary in Singapore, resulted in an EBITDA loss of
EUR -0.3 million compared with EUR -0.1 million in the prior-year period.
The Management Board of Balda AG has slightly modified its forecast for the
current 2014 / 2015 financial year. Compared with its previous expectation
of EUR 73 to 78 million of consolidated sales revenues, the Management
Board now anticipates sales revenues of between EUR 80 and 82 million for
the full year. Due to the extraordinary items, the Management Board
nevertheless also expects that Balda AG will prospectively fail to reach
its forecast of positive EBIT in its full-year results. This applies
insofar as macroeconomic conditions do not deteriorate significantly, and
no other unforeseeable negative events of major consequence for the Balda
“Although we will prospectively not reach positive EBIT as a result of the
one-off extraordinary items, the upgrade to our sales revenues forecast
shows that we are on a solid growth path, and that our strategic
orientation therefore correct,” notes Oliver Oechsle.
The latest report for the first nine months of 2014 / 2015 can be
downloaded from the investor relations section of Balda’s 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 800 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,
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