DGAP-News: Balda AG sets course for new business model

11.02.2016
DGAP-News: Balda AG / Key word(s): Half Year Results

Balda AG sets course for new business model

11.02.2016 / 08:35

The issuer is solely responsible for the content of this announcement.

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Bad Oeynhausen, 11 February 2016 – Balda AG published half-year-report 2015

/ 2016 (1 July to 31 December 2015) today. The reporting period for the

continuing operations was affected by administration and consulting costs

in connection with the transaction and the known lawsuits.

Course of business not representative for future development

Due to the resolved sale of the entire operating business, the operating

business is re-classified and listed under discontinued operations in the

published half-year report. Accordingly, in the continuing operations, no

sales revenues are reported until the commencement of future business of

Clere AG.

At EUR -2.6 million, earnings before income and taxes (EBIT) of the Group

remained below the previous year’s value of EUR 1.9 million due to

detrimental special effects (EUR 0.9 million). Essentially, the EBIT

contains administration and consulting costs, which arose in connection

with the transaction, the Annual General Meeting as well as the pending

lawsuits.

Due to absent currency gains at a lower net interest result, the Group

achieved an almost balanced net financial result, which in turn resulted in

earnings before taxes (EBT) in the amount of EUR -2.6 million (previous

year: EUR 2.9 million). After taxes on income and profit, the Group

earnings amounted to EUR -2.2 million following EUR 1.9 million during the

same period last year.

Equity was reduced to EUR 167.4 million (30 June 2015: EUR 234.1 million)

after a dividend payment in the amount of EUR 64.8 million. At the

reporting date a total of circa EUR 120 million of cash remains within the

Group. With the addition of the expected payments from the sale of the

operating business, the Group is in the possession of sufficient capital to

finance the planned capital decrease and the development of the future

business.

With the enforcement of the purchase contract for the sale of the operating

units the Group expects extraordinary earnings in the amount of EUR 30

million.

Significant events after the reporting period

At the Extraordinary General Meeting on 29 January 2016 in Hanover, the

shareholders approved the sale of the entire operating business to Italian

Stevanato-Group with 98.9 % yes-votes. On 4 February 2016, Balda AG

announced that it had accepted the Stevanato bid. Moreover, with a clear

majority the shareholders approved the re-orientation scheme of the Group.

In future, Balda will bear the name Clere AG and will undergo operational

re-alignment.

For the new business model, Balda is looking at attractive investment

options with high appreciation potential, e.g. investments and

participations in the field of environmental and power engineering.

Moreover, the Group is looking at different models of active asset

management as well as SME business participations and SME financing.

“After the upcoming transfer of the sold business areas to the Stevanato

Group, the path is clear for a new start under the name Clere AG. As a

future investment company and SME financing partner, we are currently

focussing on the strategic and operational re-orientation of the Group”,

says Oliver Oechsle, sole Management Board member of Balda AG.

Note to the publishers:

The half-year report 2015 / 2016 can now be downloaded on the company’s

website www.balda-group.com.

Contact / contact person

Daniela Münster

Deekeling Arndt Advisors

Tel: +49 (0) 5734 922 2555

Mobile: +49 (0) 174 335 8111

E-mail: daniela.muenster@deekeling-arndt.de

About Balda

After the sale of the operating business, the business model for the

remaining Balda will lie with investments and shareholdings in the field of

environmental and power engineering. Furthermore, the new Balda will pursue

active asset management as well as SME business participations and SME

financing

www.balda-group.com

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11.02.2016 Dissemination of a Corporate News, transmitted by DGAP – a

service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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 News DGAP News Service

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