Balda AG

EANS-News: Balda AG
Progress made with the reorganisation of the Group in the first quarter of 2011

New appointments to management positions / Very solid financial position allows Balda to finance an acquisition by its own means

--------------------------------------------------------------------------------
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
-------------------------------------------------------------------------------- 

quarterly report

Subtitle: New appointments to management positions / Very solid financial position allows Balda to finance an acquisition by its own means

Bad Oeynhausen (euro adhoc) - Bad Oeynhausen, 5 May 2011 - The Frankfurt SDax listed company Balda AG has reorganised its management structure in the first quarter of 2011 and further improved the Group´s financial position.

Balda AG has established a new management structure in the level below the Board of Directors in the first quarter and filled key positions. "In the areas of sales, technology and investments, we have appointed global directors for the MobileCom and Electronic Products segments. Their responsibilities lie on the one hand in their respective department, but they should also specifically support the restructuring activities in the segments on the other. With the appointment of the new management we have registered significant progress in the two segments," stated Balda´s sole board member Rainer Mohr.

Significant improvement in the situation of the segments in Asia "MobileCom has significantly improved its cost efficiency. In addition to the headcount adjustment, effectively managed production processes and further optimised quality management have contributed towards this. However, we are still some way from our goal in Beijing. In the Malaysia segment the positive development in sales is showing the impact of the realigned sales activities. Visible progress has also been made in the cost situation. Malaysia will and must show this year that it has prospects for the future as a customer-oriented, technologically advanced company in the electronic products market segment with an increase in sales and earnings", emphasised Mohr.

Balda able to finance an acquisition by its own means Mohr also referred to the Balda Group´s very solid financial situation. "We are able to finance an acquisition by our own means," explained Mohr. He stated that Balda was not looking for companies which need to be restructured, but for profitable investments. They should be able to open up further finance potential.

In addition to the instruments open to a public limited company to procure capital, Balda is in a very solid financial position. Following the measures taken in the autumn of 2009, Balda AG has no bank liabilities. At segment level, bank liabilities were comparatively low at 14.4 million euros. The Group´s net financial liabilities were minus 25.9 million euros compared to minus 23.5 million euros as at the 2010 balance sheet date. The surplus of liquid funds over interest-bearing liabilities has increased. Net gearing, the ratio of net financial liabilities to equity, was only minus 3.2 percent at the end of the first quarter of 2011. Liquid funds as of 31 March 2011 totalled 48.3 million euros. Mohr also emphasised that the Group´s equity had further increased and that its financial base was now well above average.

* * * Company Profile Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical industry. The customers of Balda are leaders in business from the mobile, entertainment and electronic communications as well as pharmaceutical and medical technology markets. The group has an international position with product sites in China, Malaysia and Germany. A subsidiary in the United States serves North American customers in product design and development. As part of a shareholding in a leading manufacturer of touch screens in China, Balda participates in the dynamic touch screen displays market.

* * * This corporate news announcement contains forward-looking statements, which are based on the current expectations of Balda´s management. They therefore contain a range of risks and uncertainties because they relate to future 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 will neither revise these forward-looking statements nor correct them in the event of any unexpected development, unless there is a legal obligation to do so.

This corporate news announcement represents neither an offer to buy shares nor an invitation to submit an offer to buy shares in the United States or any other country. The shares in Balda AG (the "shares") may not be offered or sold in the United States or to or for the account of U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, in its current version (the "Securities Act")), unless they are registered or are exempt from registration under the Securities Act. The shares have not been and will not be registered under the Securities Act.

end of announcement                               euro adhoc
-------------------------------------------------------------------------------- 

Contact:

Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de

Branche: Semiconductors & active components
ISIN: DE0005215107
WKN: 521510
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade



Weitere Meldungen: Balda AG

Das könnte Sie auch interessieren: