EANS-News: Bavaria Industriekapital AG
BAVARIA Industriekapital releases
results for 2011
30.03.2012 – 08:20
-------------------------------------------------------------------------------- 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 indexes: stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, Open Market / Entry Standard: Frankfurt language: English