EANS-Adhoc: Balda AG
Balda AG proposes dividend payment of 1.30 euros per
share for 2011 - short financial year planned
29.03.2012 – 11:31
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Dividends/annual financial statements 29.03.2012 Bad Oeynhausen, 29 March 2012 - The Supervisory Board of Balda AG today approved the Board of Directors´ proposal that a dividend of 1.30 euros per share for the 2011 financial year be proposed to the Annual General Meeting on 11 May 2012. This would result in a total payout of 76.6 million euros. As a result almost all of Balda AG´s currently distributable profits would be utilised. The dividend proposal is in line with the goal of allowing the shareholders to quickly share in the proceeds of 238 million euros from the sale of shares in TPK Holding Co., Ltd. last February. The Supervisory Board also approved the Board of Directors´ proposal to have a short financial year for the period of 1 January 2012 to 30 June 2012. As a result the shareholders could receive further proceeds from the partial sale of the TPK shareholding in the current calendar year. Balda AG achieved consolidated sales in its continued business divisions of 66.3 million euros in 2011, an increase of 5.6 % compared to the previous year´s figure of 62.8 million euros. Consolidated earnings before interest and taxes (EBIT) improved from -13.9 million euros to -6.0 million euros, but were below expectations due in particular to the performance of the Electronic Products segment. However, the Medical segment recorded a positive performance and increased its sales by 45.0 percent to 39.9 million euros and operative earnings (EBIT) to 2.7 million euros. The continued business divisions closed 2011 with consolidated earnings after taxes of -3.0 million euros following the previous year´s profit of 119.6 million euros which was influenced by high one-time income. The earnings of the discontinued business divisions, which include the MobileCom segment which was sold in 2011, totalled -36.1 million euros after taxes (previous year: -25.2 million euros). The Balda Group therefore reports consolidated earnings after taxes of -39.1 million euros for 2011 (2010: 94.4 million euros). This equates to earnings per share of -0.67 euros (2010: 1.72 euros). The Board of Directors is currently working on a detailed strategy to make the Group´s operational business profitable as quickly as possible. At the same time the restructuring and realignment of the Electronic Products segment will be continued. For the 2012 calendar year Balda is expecting consolidated sales to be roughly at the previous year's level. A negative consolidated EBIT in the single-digit millions is once again expected. However, due to the proceeds from the partial sale of the shareholding in TPK Holding, a significant consolidated profit before and after taxes is expected. 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. This ad-hoc 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 ad-hoc 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: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 - 54 04 - 91 92 0 Fax: +49 - 54 04 - 91 92 29 Mail: office@elsner-kommunikation.de end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Balda AG Bergkirchener Str. 228 D-32549 Bad Oeynhausen phone: +49 (0) 5734 9 22-0 FAX: +49 (0) 5734 922-2747 mail: info@balda.de WWW: http://www.balda.de sector: Semiconductors & active components ISIN: DE0005215107 indexes: CDAX, Prime All Share stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English