DGAP-News: Balda AG / Key word(s): Final Results/Change of Personnel
Balda AG: preliminary 2013 / 2014 results and forecast - Interim-stage
concluded, personnel changes to Management Board
28.08.2014 / 10:30
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- Revenue of EUR 70.5 million within targeted range
- EBITDA margin of around 5.6 % and EBITDA of around EUR 4.0 million before
extraordinary items also according to expectations
- Group consolidation and transformation largely concluded
- Supervisory Board meeting confirms Oliver Oechsle as Management Board
member for two more years
- Service contract of Dr. Dieter Brenken ends as planned
Bad Oeynhausen, 27 August 2014 - Balda AG presents the preliminary results
for the 2013 / 2014 financial year. Accordingly, the company has reached
the objectives that it had set for itself, achieving the lower end of its
targeted range: consolidated revenue stood at EUR 70.5 million, compared
with EUR 59.9 million in the prior-year period, reflecting a 17.7 % growth.
This increase is predominately attributable to the full consolidation for
the first time of the US companies acquired in 2012.
The company generated earnings before interest, tax, depreciation and
amortization (EBITDA) of around EUR 4.0 million before extraordinary items,
and an EBITDA margin of around 5.6 % as forecasted. After taking into
account depreciation, amortization and extraordinary items, earnings before
interest and tax (EBIT) stood at around EUR -4.6 million. For the current
financial year of 2014 / 2015 Balda aims at an increase to revenues of EUR
73 to 78 million, provided that currencies will not develop adversely.
Further a positive EBIT is expected with a low one-digit EBIT-margin.
"We restructured the whole Group last year, and fully integrated our US
sites. We are very content because Balda AG is now perceived on the market
as a comprehensive plastics specialist. Our results also show that we are
on the right track,", is how Oliver Oechsle, Management Board member of
Balda AG, comments on developments during the past financial year, before
adding: "We have prepared ourselves for the future, and our clear objective
is to grow internationally now. Our high level of cash reserves also gives
us the financial strength to realize a large acquisition."
In addition, the Supervisory Board has taken decisions about the company's
future management, and ended the interim management arrangement. The
appointment of Oliver Oechsle as a Management Board member was extended for
a two-year period. Dr. Dieter Brenken, who has been active as Chief
Financial Officer to date, is to leave the company at the end of October.
The interim manager was appointed for this period to oversee and implement
Balda's transformation and consolidation process. Dr. Brenken has made a
significant contribution to the reorientation of Balda's international
activities and commercial management. The company has simplified its
structures during the past financial year, and reorganized its segments
according to regions.
"We are sorry that Dr. Brenken is leaving us, and we would like to thank
him very much for his commitment in having helped restore Balda AG to a
condition of fitness for the future. Balda was able to launch and
successfully implement the necessary transformation processes over the past
year due to his enormous experience," commented Dr. Thomas van Aubel,
Supervisory Board Chairman of Balda AG, before adding: "Also on behalf of
all of our employees, the Supervisory and Management boards of Balda AG
would like to wish Dr. Brenken all the best for the future, both
professionally and personally."
The 2013 / 2014 annual report of Balda AG will be published on 10 October
2014, when it will be available for downloading from the company's website
at www.balda-group.com/de.
Contact
Daniela Münster
Deekeling Arndt Advisors
Phone: +49 (0) 69 97098 511
Mail: daniela.muenster@deekeling-arndt.de
About Balda
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.
www.balda-group.com
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28.08.2014 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.
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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: info@Balda.de
Internet: www.balda.de
ISIN: DE0005215107
WKN: 521510
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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284362 28.08.2014
DGAP-News: Balda AG: preliminary 2013 / 2014 results and forecast - Interim-stage concluded, personnel changes to Management Board
| Source: EQS Group AG