EANS-Adhoc: Balda AG within the expected targets in terms of turnover and result / Group
reorganisation is proceeding apace
Geschrieben am 05-08-2010 |
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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.
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6-month report
05.08.2010
Balda AG within the expected targets in terms of turnover and result
/ Group reorganisation is proceeding apace
Semi-annual net profit at 5.7 million eurosjump by 2.1 million euros in
the second quarter
Sales revenues in the half-year at 63.3 million euros (previous year: 66.2
million euros)
Delayed order calls, continuing price pressure on suppliers and one-off
expenditures put a strain on the operational result (EBIT)
EBIT at minus 2.1 million euros at the close of the first half-year
(period of previous year: plus 2.5 million euros)
Due to improved financial result EBT of 5.8 million euros (previous year:
3.9 million euros)
Reorganisation systematically advanced: concentration of MobileCom
production in Beijing
Forecast for 2010 confirmed with reservations
Bad Oeynhausen, 5 August 2010 - Balda AG, which is listed on the SDAX of the
Frankfurt stock exchange, achieved sales revenues in its continued
operations amounting to 63.3 million euros in the first half of the
year in 2010, compared to 66.2 million euros in the same period of
the previous year. The price pressure prevailing in the suppliers´
market as well as delayed commencements of production were
essentially responsible for the decline in the business volume. The
Group boosted sales to 37.4 million euros in the second quarter of
2010, following 25.9 million euros in the first quarter.
Both the one-off expenditures in the MobileCom segment for the
reorganisation in the period in a continuing tough competitive
environment, amounting to around 3 million euros, and the
cost-intensive start-up phase for the manufacture of new products put
a strain on the operational result (EBIT) in the first half of 2010.
It stood at minus 2.1 million euros, after plus 2.5 million euros in
the previous year. The EBIT covers one-off earnings as well.
The Group improved the EBIT to 0.2 million euros in the second
quarter of 2010, compared to the first quarter (first quarter of
2010: minus 2.3 million euros).
The improved financial result contributed to the positive earnings
before tax (EBT) of Balda in the first half of 2010 amounting to 5.8
million euros (previous year: 3.9 million euros).
The half-year net profit added up to 5.7 million euros (previous
year: 2.8 million euros).
Segment development The development of the three segments took
different courses yet stayed within the scope of the planning. The
earnings of MobileCom declined, with a negative operational result.
Above all, mounting cost pressure and delayed order calls have put a
strain on growth in the MobileCom segment. Electronic Products
boosted sales revenues, with a negative operational result. The
segment had to cope with a massively growing material usage with
expensive components that have to be purchased as well as costly
production run-ups. By contrast, Medical posted a slight decline of
revenues with an operational result that continues to be positive.
The segment is well positioned in the market and aligned to
sustainable growth.
|in million|Sales |EBIT |
|euros | | |
| |1st half |1st half |1st half |1st half |
| |of 2010 |of 2009 |of 2010 |of 2009 |
|MobileCom |35.3 |41.7 |-3.3 |5.2 |
|Electronic|14.9 |8.5 |-2.5 |-0.5 |
|Products | | | | |
|Medical |13.1 |16.0 |1.1 |2.3 |
Liquidity of the Group continues to be very good
The Group had liquid assets amounting to 49.4 million euros at its
disposal as of the end of the reporting period. Thus Balda is capable
of financing the operational business in 2010 as well as further
growth from its own resources.
Equity is increasing again The Group´s equity increased to 189.6
million euros (31 December 2009: 159.2 million euros). The equity
ratio likewise rose to 64.7 percent, compared to 63.9 percent at the
close of the 2009 financial year.
Prospect 2010 Balda is still assuming a stronger second half-year in
the MobileCom segment. The actual sales volume, as well as the income
side, depend on the sales result of customers´ products in the end
consumer market, i. e. on the volume of the customers´ order calls.
The definitive and reliable forecast for the operational business in
China will be feasible only over the course of the third quarter.
Despite the fact that this development in the MobileCom segment can
be precisely assessed only later, Balda will stick to its current
forecast of a sales growth of 10 to 15 percent and an operational
result for the Group in the 2010 financial year that will remain on
the same level as the previous year.
***
Key Figures of Balda Group, 1st half of 2010/2009
(Continued operations)
in million euros
| |1st half|1st half|Change in|2nd |1st |
| |of 2010 |of 20092|percent |quarter |quarter |
| | | | |of 2010 |of 2010 |
|Revenues |63.3 |66.2 |-4.4 |37.4 |25.9 |
|MobileCom |35.3 |41.7 |-15.3 |21.1 |14.2 |
|Electronic Products|14.9 |8.5 |75.3 |9.4 |5.5 |
|Medical |13.1 |16.0 |-18.1 |6.9 |6.2 |
|Total operating |73.9 |70.7 |4.5 |45.2 |28.7 |
|performance | | | | | |
|Operating result |-2.1 |2.5 | |0.2 |-2.3 |
|(EBIT) | | | | | |
|EBIT margin (in %) |-2.8 |3.5 | |0.4 |-7.9 |
|Earnings before |5.8 |3.9 |48.2 |3.7 |2.0 |
|taxes (EBT) | | | | | |
|Half-year/Quarterly|5.7 |2.8 |101.5 |3.9 |1.8 |
|net profit | | | | | |
|Earnings per share |10.8 |5.8 |86.2 |7.4 |3.5 |
|(in euro cents)1 | | | | | |
|Employees |3,731 |6,120 |-39.0 |3,731 |5,094 |
1) Number of shares at balance sheet date in million: 54.157 (previous year´s
balance sheet date: 54.157)
2) Including Balda Medical GmbH & Co. KG and Balda
Grundstücksvermietungsgesellschaft mbH, without Balda Motherson Solution
India Ltd.
end of announcement euro adhoc
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ots Originaltext: Balda AG
Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de
Branche: Semiconductors & active components
ISIN: DE0005215107
WKN: 521510
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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