Bene announces third quarter 2011/12 results (with document)

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
quarterly report


- Break-even achieved in third quarter  
- Sales rose by 10.1 %
- Clear increase in sales and significant improvement in earnings expected for
the full year 2011/12  

Vienna/Waidhofen an der Ybbs, December 14, 2011. In the third quarter of
2011/12, the Vienna Stock Exchange listed Bene AG could once again continue with
the positive dynamic of the previous quarters and thus for the fifth consecutive
quarter could achieve increases in sales and earnings in almost all sales

Significant sales growth in five consecutive quarters 
After the first three quarters of the current business year, total sales of the
Bene Group reached EUR 132.5 million and thus were 10.1 % higher than the
reference value of the prior year (Q1-Q3 2010/11: EUR 120.3 million). Whereas
the segments UK, Germany as well as ,Other market´ showed considerable increases
in sales, Austria (EUR 33.8 million after EUR 40.8 million in the previous
year´s reference period) and Russia (EUR 9.8 million after EUR 11.0 million in
the previous year´s reference period) still reported slight declines in sales.
In the Germany segment, Bene improved sales by 23.7 % to EUR 38.2 million in the
first nine months of the current reporting period (Q1-Q3 2010/11: EUR 30.9
million). Several key projects resulted in a sales growth of EUR 1.8 million or
13.0 % to EUR 15.6 million in the UK segment (Q1-Q3 2010/11: EUR 13.8 million).
Likewise, the ,Other markets´ segment showed a very positive development. In the
third quarter, Bene has significantly improved sales by 47.3 % or EUR 11.3
million to EUR 35.1 million in this segment (Q1-Q3 2010/11: EUR 23.8 million). 

Disproportionately high increase in earnings - Break-even achieved in third
The significant growth in sales, the well-targeted control of the product
portfolio in the different sales markets and the focus on high-margin projects
had a positive effect on the earnings figures of the Bene Group. In the first
nine months of the current financial year, the EBITDA increased to EUR 4.0
million and thus was significantly - EUR 6.4 million - higher than the previous
year´s reference value (Q1-Q3 2010/11: EUR - 2.3 million). Likewise, the EBIT
considerably improved after the first nine months of the current financial year.
Although the EBIT still reported a negative value of EUR  - 2.2 million, it was
74.9 % and thus clearly higher than the reference value of the previous year
(Q1-Q3 2010/11: EUR - 8.7 million). After the first three quarters, the gross
profit margin (revenue +/- inventory changes - expenses for materials and
supplies in relation to revenue) reached 54.5 %. Despite the achieved expansion
in sales, it was thus clearly higher than the reference value of the prior year
(Q1-Q3 2010/11: 52.4 %). Expenses for materials and supplies increased by EUR
7.5 million to EUR 65.7 million in the first nine months (Q1-Q3 2010/11: EUR
58.2 million) and represented 49.6 % of revenue (Q1-Q3 2010/11: 48.4 %). 
Stable assets and capital structure 
In comparison with the balance sheet date, as of October 31, 2011 the balance
sheet total decreased by EUR 8.2 million to EUR 141.0 million (January 31, 2011:
EUR 149.2 million). Accordingly, as of the reference date, the equity ratio came
to a solid value of 23.6 % (January 31, 2011: 25.9 %). 

Additions to property, plant, and equipment and to intangible assets reached EUR
4.5 million in the first nine months of the current financial year (Q1-Q3
2010/11: EUR 4.3 million) and thus remained at the previous year´s level.
Investments in replacements at the site in Waidhofen/Ybbs as well as the
expansion and the modernisation of the show rooms in London, Moscow, Hamburg and
Villingen-Schwenningen represented the largest items.

Headcount steady
On the reporting date October 31, 2011, the Bene Group occupied 1,321 employees
in total and thus 43 persons or 3.4 % more than on the reference date of the
past year. 

On the basis of the further increased incoming orders in the third quarter of
2011/12, the Management of the Bene Group expects once again a substantial
growth in sales and a further improvement in earnings for the final quarter of
2011/12. Against this background, the Bene Group will probably significantly
increase sales of the financial year 2011/12 and will report a positive EBIT. In
the course of the business year, the Bene Group has again introduced new and
profitable product groups to the market. Thus, despite the growth dynamics of
the last quarters, the gross profit margin consistently remained at a high
level. This development encourages the Management to resolutely continue on the
chosen path. On the basis of the increased profitability, the broad geographic
spread and the active expansion of the growth markets Asia / Pacific, the Bene
Group is a company, which is competitive in the market even in economically
challenging times.   

Among others, this report contains statements on potential future developments,
which were made on the basis of currently available information. Such
statements, which reflect the current assessment of future developments by our
Management Board, cannot be construed as guarantees for future performance and
bear unforeseeable risks and uncertainties. There may be a variety of reasons
for actual results and conditions to diverge from the assumption, on which the
statements were based. 

About Bene. 
Bene is convinced that there is a clear connection between the design of office
and work environments, corporate culture and the success of a company. Bene´s
concepts, products, and services put this philosophy into reality. Development,
design, and production as well as consulting and sales are covered under one
roof. With 85 sites in 36 countries and 1,321 employees worldwide, Bene offers
its customers regional access to all of its services. In the business year
2010/11, consolidated sales of the Bene Group amounted to EUR 170.8 million.
Bene is market leader in Austria and number six in Europe.  

The report for the first three quarters of 2011/12 is available on the internet
under relations.

Attachments with Announcement:

Further inquiry note:
Investor Relations:
Martina Vomela
Schwarzwiesenstraße 3
A-3340 Waidhofen/Ybbs
IR Hotline: +43-7442-500-3100

end of announcement                               euro adhoc 

Attachments with Announcement:

issuer:      BENE AG
             Schwarzwiesenstrasse 3
             A-3340 Waidhofen/Ybbs
phone:       +43/7442/500-0
FAX:         +43/7442/500-3380
sector:      Furnishings & Furniture
ISIN:        AT00000BENE6
indexes:     ATX Prime
stockmarkets: official market: Wien 
language:   English

Weitere Meldungen: BENE AG

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