DGAP-News: bmp Holding AG / Key word(s): Quarterly / Interim
Statement/Quarter Results
bmp Holding AG: Results for the 1st quarter of 2016
31.05.2016 / 11:00
The issuer is solely responsible for the content of this announcement.
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bmp Holding AG: Results for the 1st quarter of 2016
- Quarterly revenue of EUR 4.25 million
- Consolidated earnings of minus EUR 2.3 million burdened through an
individual value adjustment of almost EUR 2 million
- Annual forecast for the operative business confirmed
bmp Holding AG's (ISIN DE0003304200) revenue developed in line with
planning in the first quarter 2016. Consolidated revenue amounted to EUR
4.25 million (prior-year period: EUR 0.0 million). Together, sleepz GmbH
and the Matratzen Union Group companies thus generated growth of almost 40%
in comparison to their revenue in the first quarter of 2015, when they were
not yet included in the scope of consolidation of bmp Holding AG.
Grafenfels Manufaktur GmbH did not yet contribute any revenue in the first
quarter. The gross profit margin of slightly above 30% was also in line
with expectations.
Consolidated earnings of minus EUR 2.3 million (prior-year period: EUR 1.05
million) were heavily burdened by a specific valuation allowance of
approximately EUR 2 million that was needed for one of the available-for-
sale venture capital investments. The company had counted on a financing
from former shareholders, which was cancelled at short notice. As a result,
this former investment is highly vulnerable to default.
The operating subsidiaries sleepz GmbH, Grafenfels Manufaktur GmbH and the
companies of the Matratzen Union Group developed in line with planning,
with a net loss of EUR 313 thousand. While Grafenfels and sleepz still
reported losses, the Matratzen Union Group contributed a positive quarterly
result. The holding company itself generated a loss of EUR 142 thousand,
which also developed in line with planning.
Because the second quarter seasonally tends to be weaker than the first in
our sector, we expect to see a slight decrease in quarterly revenue from
sleepz as well as of the Matratzen Union Group. At the same time,
Grafenfels will make its first contribution to revenue, although this is
expected to be small still. Overall, we therefore anticipate revenue of EUR
3.5 million in the second quarter. Acquisitions of additional companies
will not take place in the second quarter.
In view of the discontinuation of its venture capital business, in May bmp
Holding AG rescinded the investment consultancy contract agreed with bmp
Beteiligungsmanagement AG with a term from 2011until the end of 2021 by
mutual agreement and replaced it with a "contract for the management and
sale of the old VC investments" with a significantly shorter term until the
end of 2017. The contract provides for quarterly remuneration of EUR 100
thousand from 1 April 2016 to 31 December 2017. The previously accrued
carry claim is fully offset against this remuneration totalling EUR 700
thousand.
The forecast for the year with organic revenue of EUR 20 million and
earnings from ordinary business activities of minus EUR 1 million to minus
EUR 2 million still applies. The guidance of revenue of EUR 25 million to
EUR 40 million including an additional one or two company acquisitions also
remains in place, with the effect on consolidated revenue largely being
influenced by the timing of possible acquisitions in the second half of the
year. This in turn is dependent on the implementation of successful exits
in the coming months.
The complete quarterly statement is published under www.bmp-holding.de.
For further information:
bmp Holding AG
Corinna Riewe
Schlüterstraße 38
10629 Berlin
Tel.: +49 30 2030 5567
criewe@bmp.com
This Corporate News is neither an offer nor a request to submit an offer
for the sale of securities - specifically not in the US or other countries
or jurisdictions in which an offer or request to submit an offer for the
purchase or sale would be illegal without prior registration or permission
under the relevant securities guidelines.
This Corporate News is neither an offer to sell registered bearer shares
nor a request to submit an offer to buy the registered shares; it is merely
for information purposes.
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31.05.2016 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.
Archive at www.dgap.de
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Language: English
Company: bmp Holding AG
Schlüterstraße 38
10629 Berlin
Germany
Phone: +49 (0)30 20 305-0
Fax: +49 (0)30 20 305-555
E-mail: ir@bmp.com
Internet: www.bmp-holding.de
ISIN: DE0003304200
WKN: 330420
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart; Warschau
End of News DGAP News Service
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467743 31.05.2016
DGAP-News: bmp Holding AG: Results for the 1st quarter of 2016
| Source: EQS Group AG