DGAP-News: Balda AG: Stable growth during first nine months of 2013 / 2014
DGAP-News: Balda AG / Key word(s): 9-month figures/Quarter Results
Balda AG: Stable growth during first nine months of 2013 / 2014
14.05.2014 / 07:32
* Consolidated revenue of EUR 51.0 million after first three quarters
* EBITDA of EUR 1.3 million
* EUR 10.4 million of consolidated net income after tax
* FY 2013 / 2014 forecast confirmed: consolidated revenue between EUR 70
million and EUR 80 million and positive net result (excluding extraordinary
* Operating cash flow risen significantly to EUR 6.8 million after previous
year’s EUR -0.6 million
Bad Oeynhausen, 14 May 2014 – In the third quarter the operating
development of Balda AG has been slightly below expectations due to lesser
customer demand. Nevertheless, the company earned a total of EUR 51.0
million in revenues after EUR 39.6 million in the year prior.
“The financial year 2013 / 2014 is a year of transition for Balda AG, in
which our central focus lies on the complete integration of our US
companies. This process has by now been almost fully completed and we can
now extensively use our value chain, expand our distribution activities,
and farther utilize our potential – across the globe. As an integrated
provider of plastics solutions with the focus on healthcare, eyewear,
automotive, and other markets, we will profit significantly from changes in
society as well as technology” states Oliver Oechsle, Chief Operating
Officer of Balda AG.
“We still remain on our defined growth track, even though customer demand
has put our revenue of EUR 51.0 million slightly below expectations. On the
other side we are pleased with the development of our operative cash flow,
which has risen considerably to EUR 6.8 million after EUR -0.6 million in
the previous year.” elaborates Dr. Dieter Brenken, Chief Financial Officer
of Balda AG.
Key sales and earnings figures of the Balda Group for the first nine months
of financial year 2013 / 2014
The company has remained on its growth track between July 2013 and March
2014. Due to a lesser seasonal customer demand, however, the operational
development is slightly below expectations. In the third quarter of 2013 /
2014 consolidated earnings stood at EUR 16.1 million, after the quarters
the total earnings amounted to EUR 51.0 million (year prior: EUR 39.6
million). This rise is attributable to the complete consolidation of the
US-acquisitions at the end of 2012. Balda generated a profit before
interest, tax, depreciation and amortization (EBITDA) from its continuing
operations of EUR 1.3 million in the reporting period following a loss of
EUR -0.6 million in the previous year.
After tax, the Group reports EUR 10.4 million of earnings from its
continuing operations (comparable period: EUR 11.9 million).
Performance of the operating segments
With its Balda America segment the company generated EUR 29.2 million sales
revenue in the first nine months of 2013 / 2014 and in the prior year
period EUR 11.6 million. In the current reporting period the US companies
are fully integrated while in the previous year only three months were
consolidated. The segment EBITDA stood at EUR 1.7 million (prior-year
period: EUR 0.2 million).
The segment Europe generated EUR 21.9 million of sales revenue for the
period under review (previous year: EUR 28.0 million). The segment reported
a slight loss of EUR -0.3 million at the EBITDA level (prior year period:
profit of EUR 0.5 million) due to extraordinary items.
General holding company costs led to a slight loss of EUR -0.1 million at
the EBITDA level in the Other segment after EUR -0.4 million in the
The Management Board is retaining the forecasts for the full 2013 / 2014
year: Assuming that macroeconomic conditions do not deteriorate
significantly and barring any other unforeseeable adverse effects that have
a material impact on the Balda Group, the company assumes that it will
generate consolidated sales revenue in the EUR 70 million to EUR 80 million
range, accompanied by a single-digit EBITDA margin and a profit. Earnings
are strongly dependent on currency effects.
For additional information, please see the section entitled “Opportunities
and anticipated developments” in our Annual Report for the 2012 / 2013
Further and more detailed information can be found on the website of Balda
Deekeling Arndt Advisors
Tel: +49 (0) 5734 922 2555
Balda 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 700 people, is based on the
deployment of leading-edge, cost-effective technologies, coupled with the
trust-based and close collaboration with customers. The Balda AG share
(ISIN: DE0005215107) is listed on the SDAX segment of Deutsche Börse.
End of Corporate News
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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: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
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