EANS-Adhoc: BENE AG / Results for the first quarter of 2010/11

--------------------------------------------------------------------------------
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
announcement.
--------------------------------------------------------------------------------

quarterly report

23.06.2010

- Sales decreased by 21.6 % in total to EUR 37.3 million
- Austria: Sales increase of 8.4 % to EUR 15.7 million
- EBITDA of EUR -0.9 million slightly negative
- Personnel expenses continue to decline
- Equity ratio of 31.6 % still remains at a high level

Vienna/Waidhofen an der Ybbs, June 23, 2010. In the first quarter of
2010/11 (February 1 to April 30, 2010) sales and earnings of the Bene
Group were still affected by the difficult economic environment in
most of the markets. Total sales of the Bene Group decreased by 21.6
% to EUR 37.3 million in the first three months of the current
financial year (Q1 2009/10: EUR 47.6 million). In Austria, Bene
achieved an increase in sales of 8.4 % to EUR 15.7 million (Q1
2009/10: EUR 14.5 million). In the current reporting period, in
Germany sales dropped by 36.2 % to EUR 9.1 million compared to the
good first quarter of the previous year. In the UK segment, in the
period under review Bene had to report a decline in sales of 43.0 %
to EUR 3.0 million in comparison with the first quarter of the prior
year (Q1 2009/10: EUR 5.3 million). On the other hand, in Russia the
considerably slower demand had a strong negative impact on the Bene
sales development. In the first quarter of 2010/11, sales decreased
by 46.6 % to EUR 2.7 million (Q1 2009/10: EUR 5.1 million). The
"other markets" segment experienced strongly divergent developments;
compared to the first quarter of the reference period, sales fell by
20.1 % to EUR 6.7 million (Q1 2009/10: EUR 8.4 million).

The continuing weak economic environment as well as the increased
price competition for major projects in the individual sales markets
led to a decrease in the earnings figures compared to the previous
year´s reference period. The personnel and material cost cutting
measures implemented could only partly compensate this development.
In total, the EBITDA declined by EUR 2.1 million to EUR -0.9 million
in comparison with the prior year (Q1 2009/10: EUR 1.2 million). The
financial result deteriorated by EUR 0.3 million to EUR -0.8 million
(Q1 2009/10: EUR -0.5 million).

At the end of the first quarter of 2010/11, the equity ratio of 31.6
% (January 31, 2010: 31.7 %) still remained at a high level. At the
same reporting date, net gearing amounted to 45.7 % (January 31,
2010: 24.6 %).

In the first quarter of 2010/11, the investment volume of EUR 1.4
million (Q1 2009/10: EUR 3.7 million) remained clearly below the
previous year´s level. Investments in replacements at the site in
Waidhofen/Ybbs as well as investments in the new location in Vienna
represented the largest items.

On the reporting date April 30, 2010, the Bene Group occupied 1,233
employees in total, which are 292 persons or 19.1 % less than on
April 30, 2009.

As late cyclical, the Bene Group is hit by both, positive and
negative developments only at a later stage. Towards the beginning of
the third quarter of 2009/10, Bene experienced a stabilisation in
demand, although at a low level. Due to the still prevailing general
uncertainty in the markets and the volatile situation, the Management
of the Bene group makes a very conservative estimate for the
financial year 2010/11. The Management Board expects, that the Bene
Group will report a negative result for the business year 2010/11.

In the medium-term, however, the Bene Group has a strong organic
growth potential on the basis of the existing capacities. Since Bene
has introduced profitable products to the sales organisation in the
last years and has made essential investments in the capacity at the
site in Waidhofen, in case of a market recovery, the Bene Group
should be able to realise a considerably higher increase in earnings,
compared to the industry.

Note. 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.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: BENE AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investor Relations:

Martina Vomela

Schwarzwiesenstraße 3

A-3340 Waidhofen/Ybbs

IR Hotline: +43-7442-500-3100

ir@bene.com

Branche: Furnishings & Furniture
ISIN: AT00000BENE6
WKN:
Index: ATX Prime
Börsen: Wien / official market