Balda AG / Quarter Results 06.05.2009 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Revenues in the Infocom business increase by 2.3 million euros to 27.9 million euros - EBITDA at 4.7 million euros growing significantly - Positive EBIT of 1.8 million euros - Significant EBT-plus to 2.2 million euros - Operative cash-flow of 4.7 million euros - Goal 2009: Profit or balanced result at minimum Bad Oeynhausen, 6 May 2009 - Balda AG, listed in the Prime Standard of the Frankfurt Stock Exchange, has achieved a very good result development in the first three months of 2009. The company earned in its continued operations sales revenues amounting to 27.9 million euros. Adjusted for the holding in the touch screen producer TPK this corresponds to a plus of 2.3 million euros or 9.0 percent in comparison to the same period of the previous year. This increase is above all due to the results of the production plants in the China region. The Balda Group recorded with 4.7 million euros a significant plus of earnings before interest, taxes and depreciation (EBITDA) (previous year: 0.5 million euros). While the depreciation on tangible and intangible assets increased slightly by 0.5 million euros compared to previous year's value of 2.9 million euros, the other operating expenses declined by 2.1 million euros to 5.4 million euros. The Group's operating income (EBIT) had a positive outcome of 1.8 million euros (previous year without TPK-participation: minus 1.1 million euros). The Group's EBT amounted to 2.2 million euros in the continued operations after the first three months of the current financial year (previous year: minus 2.8 million euros without TPK). Revenue development The revenue contribution of the China region amounted to 21.9 million euros. Adjusted for the TPK effect, previous year's value adds up to 8.7 million euros. Hence, China contributes the lion share to the Group's turnover with 78.8 percent in the first quarter 2009. The region Malaysia with 5 million euros stays behind last year's revenues of 16.7 million euros. The shift of sales revenues from Malaysia to China reflects a customer's business transfer. The Balda Group recorded in the continued operations a net profit for the current quarter of 1.8 million euros (previous year: minus 6.2 million euros). The earnings per share on the basis of 54.157 million shares in the continued operations of the Group are 0.092 euros (previous year: minus 0,009 euros). The discontinued operations of the Balda Group achieved a consolidated profit of 3.2 million euros (previous year: 5.8 million euros). It is made up of payments of the BenQ insolvency administrator as well as of the earnings from Balda Medical. At 308.4 million euros, the total assets of the Balda Group at 31 March 2009 are slightly above the reference value of the 2008 yearend of 300.4 million euros. The Balda Group had equity capital of 114.2 million euros (without minorities) at its disposal at the end of the first quarter of 2009 (2008 financial statement date: 98.2 million euros). This is an improvement in the equity capitalization of 16.0 million euros. The equity ratio of the concern amounts to 37.0 percent in the report period after 32.7 percent at the end of 2008. Net-financial liabilities of the Group were reduced from 102 million euros at year-end 2008 to 98.3 million euros. Despite the successful first quarter 2009 with growth in sales and profits, the Balda Group remains only cautiously optimistic for the current financial year. Developments in the global mobile phone markets in particular point to declining demand in 2009. Balda cannot escape this development entirely. However, the Group aims at winning new customers and markets. In keeping with the ongoing strategic expansion within the proximity of the customers, the Group is planning to open sales offices in Tokyo, Japan and in Seoul, Korea, over the course of the next three to six months, this after the already operating offices in Lund, Sweden, as well as in Taipei, Taiwan. Even in the case of declining sales, Balda's target corridor for 2009 will continue to be a balanced result at minimum. Key figures in table on next page *** Table with figures to the first quarter 2009 Balda Group overview (continued operations) in million euros<pre> 1. quarter 1. quarter 2008 1. quarter 2008 2009 with TPK without TPK Revenues 27.9 34.9 25.6 China 21.9 18.0 8.7 Malaysia 5.0 16.7 16.7 India 0.9 0.2 0.2 Total operating result 29.2 41.1 28.4 EBITDA 4.7 0.5 1.2 Earnings before interest and 1,8 -5,0 -1,1 tax (EBIT) EBIT-margin (in %) 6,1 -12,2 -4,0 Earnings before tax (EBT) 2,2 -7,0 -2.8 quarterly result 1,8 -6.2 -2.0 quarterly result including 5.0 -0.5 3.8 discontinued operations earnings per share (in cent) 9.2 -0.9 7.0 1 Employees 2 4.802 5.983 4.563</pre> 1) Number of shares on cutt-off date (in mio.): 54.157 (reference date: 54.157) 2) Number of employees including loan workers, temporary workers and apprentices - continued operations only Company profile Balda AG The Balda Group develops and produces highly integrated devices comprising plastic and electronic components, primarily for the telecommunications sector. In addition, the company manufactures high-tech equipment such as headphones and hands-free sets. The future is derived from past experience. Balda has developed an active culture of continuous transformation through the traditions established within the hundred years of its existence. Since its founding, innovation and technology have been the significant driving forces of progress and the guarantors of corporate success. Today, Balda is an internationally positioned high-tech company with innovative products and a high performance capacity. Balda AG, which is registered in the Prime Standard on the German Stock Exchange, services international brand-name clients in the mobile telecommunications sector, medical technology and other similar markets. The Group produces close to its customers' locations in the expanding growth markets. With four production facilities, the Group has a strong position in China and Malaysia.. Within the framework of a shareholding in a leading producer of touch screens in China, Balda is participating in the dynamic development in the touch-sensitive display sector. The vision was and is clear: Balda will strengthen its technological innovations potential and further expand in the promising growth regions of Asia. Balda will thus achieve the conditions for profitable growth and a sustainable increase in added value. * * * If you have any questions please contact: Balda AG, Clas Röhl, Phone: +49 5734 922 2728, Fax: +49 69 710456450. Email: croehl@balda.de, Internet: www.balda.de * * * This ad hoc announcement includes 'forward-looking statements' which are based on the current expectations of the management of Balda. They are subject to risks and uncertainty because they relate to events and depend on circumstances that will occur in the future, such as, for example, developments in the mobile communications industry, changes in technology and the ability to timely and successfully develop new products and various other factors. Balda does not undertake any obligation to update publicly or revise forward-looking statements except to the extent legally required. This ad hoc announcement is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or elsewhere. The shares in Balda AG (the 'Shares') may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act')) unless registered under the Securities Act or pursuant to an exemption from such registration. The Shares have not been and will not be registered under the Securities Act. DGAP 06.05.2009 --------------------------------------------------------------------------- Language: English Issuer: Balda AG Bergkirchener Str. 228 32549 Bad Oeynhausen Deutschland Phone: +49 (0) 57 34 / 9 22-0 Fax: +49 (0) 57 34 / 9 22-2747 E-mail: info@Balda.de Internet: http://www.balda.de ISIN: DE0005215107 WKN: 521510 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Balda AG: Positive results all along the line in the first quarter 2009
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