EANS-Adhoc: Balda AG
Balda Group generates quarterly profit of 133.6 million
euros as a result of proceeds from the part-sale of TPK shares
03.05.2012 – 10:02
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- quarterly report 03.05.2012 Bad Oeynhausen, 3 May 2012 - The plastics processor Balda AG generated consolidated profit after taxes of 133.6 million euros in the first quarter of 2012. This steep year-on-year rise (previous year: 4.4 million euros) was due to the part-sale of the shares in the Chinese touchscreen manufacturer TPK Holding Co., Ltd. in the reporting period. The reduction of this share from 16.1 percent to 7.6 percent resulted in sales proceeds of 238 million euros. Consolidated sales amounted to 12.2 million euros in the first quarter (Q1 2011: 13.5 million euros; -9.4 percent). The main reasons for this drop were delayed order call-offs in both the Medical and Electronic Products segment. The restructuring measures in the Electronic Products segment, which were started at the beginning of the year, are right on schedule. The operating Group earnings before interest and taxes (EBIT) came to -3.1 million euros in the first quarter compared to -1.0 million euros in the previous year's quarter on account of lower sales as well as additional costs, mainly for the processing of orders in the Electronic Products segment. The Board of Directors confirms its previous outlook for calendar year 2012, which is to be regarded as a year of change within the scope of the reorientation of the operating business. It expects consolidated sales to be roughly on par with the previous year and EBIT to again come to a negative one-digit million figure. Thanks to the proceeds from the sale of the TPK shares, a considerable consolidated profit after taxes is expected. The aim remains to sell the remaining shares in TPK Holding for an optimised price during the course of the current year. 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