DGAP-News: Balda AG / Key word(s): Half Year Results/Half Year Results
Balda AG: further growth within first half of financial year 2013 /
13.02.2014 / 07:49
– Sales revenues almost doubled to EUR 34.9 million due to new US companies
– EBITDA of EUR 1.1 million
– EUR 11.1 million net income after tax because of currency effects
– New reporting structure: segmentation according to regions Europe and
– Guidance for financial year 2013 / 2014 confirmed: Sales revenues between
EUR 70 million and EUR 80 million accompanied by a profit (without
Bad Oeynhausen, 13 February 2014 – Balda AG was on a profitable growth
course in the first half of the financial year 2013 / 2014. In operating
terms, however, the segment plastics fell behind expectations in the second
quarter, as was the case in the first quarter 2013 / 2014 due to hesitancy
in customer demand.
‘We, the new Management Board, have conducted a thorough inventory-taking
over recent months, and see many growth opportunities for Balda AG due to
its excellent staff, high product and manufacturing expertise. We are
working intensively on turning this potential into performance and hence
into sustainable value enhancement’, states Oliver Oechsle, Chief Operation
Officer of Balda AG.
‘We are well on the way to achieving the targets that we have set for
ourselves, although there is still much to be done in operating terms.
Sales revenues reached EUR 34.9 million in the first half year, and are
thereby within the target corridor for the EUR 70 million to EUR 80 million
of sales revenue that we are aiming for over the course of the full year.
In terms of earnings, we are also on track to achieve a single-digit EBITDA
margin on sales revenue by the year-end’ elaborates Dr. Dieter Brenken,
Chief Financial Officer der Balda AG.
Key sales and earnings figures of the Balda Group for the first half of
financial year 2013 / 2014
Within the first six months of the financial year 2013 / 2014 Balda was
able to almost double its sales revenue from continuing operations and
earned EUR 34.9 million compared to the previous year’s figure of
EUR 19.9 million. The increase is attributable to the complete
consolidation of the US companies since end of 2012.
Balda generated a profit before interest, tax, depreciation and
amortization (EBITDA) from its continuing operations of EUR 1.1 million in
the reporting period following a loss of EUR 1.6 million in the previous
year. After tax, the Group reports EUR 11.1 million of earnings from its
continuing operations (comparable period: EUR 11.6 million), which is
considerably impacted by currency effects within the financial result.
Performance of the operating segments
According to the new reporting structure, the reporting of the operative
segments will be performed by regions. The Balda America segment generated
EUR 20.1 million sales revenue in the first half of 2013 / 2014 (prior year
period: EUR 0 million), and segment EBITDA reached
EUR 1.2 million (prior-year period: EUR 0 million).
The segment Europe generated EUR 14.9 million of sales revenue for the
first half of 2013/2014 (previous year period: EUR 19.9 million). The
segment reported a slight loss of EUR 0.1 million at the EBITDA level
(prior year period: profit of EUR 0.5 million).
General holding company costs led to a slight loss of EUR 0.1 million at
the EBITDA level in the Other segment.
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.
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
End of Corporate News
13.02.2014 Dissemination of a Corporate News, transmitted by DGAP – a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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,
End of News DGAP News-Service