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EANS-News: Balda AG
Performance in line with targets
slightly positive EBIT
/ MobileCom segment sold
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report Bad Oeynhausen (euro adhoc) - Balda AG: Performance in line with targets / slightly positive EBIT / MobileCom segment sold Sales revenue in the first nine months slightly down at 44.4 million euros (same period of the previous year: 46.5 million euros) EBIT: 0.1 million euros (same period of the previous year: 1.3 million euros) EBT: 5.7 million euros (previous year: 13.3 million euros) Bad Oeynhausen, 3 November 2011 - Balda AG has sold its MobileCom segment. As reported on 31 October, with this Balda has disposed of its activities in the mobile phone business in China. Business performance In the first nine months of the current financial year the Balda Group recorded sales revenue of 44.4 million euros in the continued business divisions (2010: 46.5 million euros). This equates to a fall of 2.1 million euros or 4.5 percent. With sales of 15.4 million euros, the Group generated around 3.0 million euros less revenue in the third quarter of 2011 than in the same period for 2010. This performance is partly due to the consequences of the nuclear disaster in Japan. Bottlenecks at the suppliers of electronics components from Japan to be built into electronic devices resulted in production stops in Malaysia in the Electronic Products segment. Delays in billing for tools had a negative impact on sales revenue in the Medical segment in the third quarter of 2011. The billing will take place in the fourth quarter of 2011. The Group´s EBIT after nine months was 0.1 million euros following 1.3 million euros in the previous year. The EBIT in the third quarter was minus 1.0 million euros following plus 0.7 million euros in the previous year. The lower sales and the continued low utilisation in the Electronic Products segment had an adverse effect on the EBIT in the period under review. The EBT fell due to the reduced financial earnings of 5.6 million euros (previous year: 11.9 million euros) to 5.7 million euros (previous year: 13.3 million euros). The nine-month profit in 2011 totalled 6.6 million euros (previous year: 13.6 million euros). The discontinued business divisions, which include the MobileCom segment, recorded a loss for the period of 35.0 million euros (same period of the previous year: loss for the period of 6.7 million euros). This includes special accounting write-downs to the recoverable value of the units sold in the amount of 24.5 million euros. The loss from the operating business of the discontinued business divisions was 10.5 million euros in the first nine months of 2011. The Balda Group recorded a consolidated loss (continued and discontinued business divisions) after the first nine months of the current financial year of 28.4 million euros compared to a profit of 6.9 million euros in the same period of the previous year. Performance of the operational Group segments The Medical segment´s sales rose significantly in the first nine months of 2011 to 24.4 million euros following 20.4 million euros in the same period of the previous year. Business is growing in line with targets in 2011. The segment´s EBIT totalled 1.7 million euros after the first nine months (previous year: 1.6 million euros). The EBT totalled 1.6 million euros (previous year: 1.4 million euros). The Medical segment is performing in line with expectations. Sales revenue in the Electronic Products segment totalled 20.0 million euros as of 30 September 2011 following 26.1 million euros in the same period of the previous year. The segment´s EBIT was minus 1.5 million euros (previous year: minus 2.6 million euros). In the second and third quarter the segment achieved a break-even result. The segment is moving in the right direction. Financial position The Balda Group recorded in the first nine months of 2011 due to the decrease in working capital an inflow of funds in the amount of 2.6 million euros (previous year: an outflow of funds of 11.6 million euros). Cash and cash equivalents relating to the continued business divisions totalled as of 30 September 2011 35.8 million euros, the Group´s cash and cash equivalents amounted to 38.7 million euros. Balda is able to finance the operational business in 2011 from its own resources. Equity Equity fell as of 30 September 2011 to 614.2 million euros (2010 balance sheet date: 749.7 million euros). Acquisition as part of the realignment of the Group The Board of Directors will place the issue of an acquisition back on the agenda of the Supervisory Board after now having disposed of the MobileCom segment. Parallelly measures are being implemented internally to strengthen the Medical segment. Outlook for 2011 For the 2011 financial year the Board of Directors is expecting sales revenue in the continued business divisions to be at the lower end of the forecast of around 70 million euros with a slightly positive EBIT. Company profile of Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical technology industry. Balda´s customers are leading companies in the pharmaceutical, medical technology, consumer electronics electronic communications and mobile phone markets. The Group is internationally positioned with production sites in Germany and Malaysia. A subsidiary in the USA operates in product design and development. Within the scope of its shareholding in a leading touchscreen manufacturer in China, Balda is participating in the dynamic development of the touchscreen displays market. Contact: Balda AG, Clas Röhl, Telephone: (05734) 922 - 2728, Fax: (05734) 922 - 2604, E-mail: firstname.lastname@example.org, Internet: www.balda.de 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. Further inquiry note: Clas Röhl Tel.: +49 (0) 5734 922-2728 email@example.com end of announcement euro adhoc -------------------------------------------------------------------------------- company: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: firstname.lastname@example.org WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, München language: English