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30.03.2012 – 08:20

Bavaria Industriekapital AG

EANS-News: Bavaria Industriekapital AG
BAVARIA Industriekapital releases results for 2011

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

München (euro adhoc) - BAVARIA Industriekapital releases results for 2011

•Group revenues increase 18% to EUR 750 million

•Annual Group surplus of EUR 2.4 million
•Serial Production/ Automotive segment books operating result (EBITDA) of EUR
32.3 million

Fiscal 2011 was another successful year for BAVARIA Industriekapital AG. Thus,
sales revenues on the Group level grew by 18% to EUR 749.9 million (prior year:
EUR 638.4 million). 64.1% of said revenues, or EUR 480.6 million, were derived
from the Serial Production/ Automotive segment (prior year: 345.4 million). The
operating result before interest, taxes, depreciation and amortization (EBITDA)
amounted to EUR 32.2 million (prior year EUR 24.6 million); this corresponds to
an operating margin of 6.7% (prior year 7.1%).

On the other hand, losses were booked by the two business segments Plant
Engineering & Construction and Business Services. In this case, the main money
losers were the SwissTex companies in Switzerland and France, with a negative
EBITDA of EUR 22.1 million (prior year: positive result of EUR 3.3 million).
This will be recorded as a one-time loss due to the deconsolidation of both
companies as of the fourth quarter. 

Tax expense amounted to EUR 6.8 million (prior year EUR 5.8 million), thus
exceeding the annual Group surplus. This was due to the fact that BAVARIA does
not enter into profit-transfer agreements and because the profits of individual
investee companies are not offset against the losses of other companies. 
The Group´s liquid funds declined by EUR 10.4 million to EUR 45.6 million in
2011. At the same time, financial liabilities (bank loans and factored
receivables) fell by EUR 20.6 million to EUR 42.5 million, thus allowing net
financial resources to increase by EUR 10.2 million to EUR 3.1 million.

The Group´s invested EUR 23.1 million in fixed assets. No dividend was paid in
fiscal 2011. On the other hand, EUR 2.5 million were earmarked for share
repurchases over the course of the year. 

Given that BAVARIA Industriekapital AG is a majority family-owned company, its
investments are oriented towards a long-term horizon. Reimar Scholz, BAVARIA´s
Executive Board Chairman, explains: "Our proposal to the General Shareholder
Meeting will be for a dividend payout of only 4 eurocents per share, so as to
allow for further growth in our investment activities. We have already acquired
three companies in the first quarter of the current year, and are continuing to
invest vigorously in the expansion of our companies." 
At present, BAVARIA Industriekapital AG holds financial participations in eleven
companies in Europe and accounts for a total workforce of roughly 5,200
employees. As in the past, BAVARIA´s core strategy is to acquire majority
shareholdings in companies that exhibit a significant improvement potential.
For additional information about BAVARIA Industriekapital, please visit our
website at www.baikap.de.

Further inquiry note:
Reimar Scholz
Tel.: +49 89-729 8967-0
E-Mail: info@baikap.de

end of announcement                               euro adhoc 

company:     Bavaria Industriekapital AG
             Bavariaring 24
             D-80336 München
phone:       +49 (0)89 729 8967- 0
FAX:         +49 (0)89 729 8967- 10
mail:     info@baikap.de
WWW:      http://www.baikap.de
sector:      Holding companies
ISIN:        DE0002605557
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, Open Market /
             Entry Standard: Frankfurt 
language:   English

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