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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