EANS-Adhoc: BENE AG / Bene announces third quarter 2011/12 results (with document)

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quarterly report

14.12.2011

- Break-even achieved in third quarter - Sales rose by 10.1 % - Clear
increase in sales and significant improvement in earnings expected
for the full year 2011/12

Vienna/Waidhofen an der Ybbs, December 14, 2011. In the third quarter
of 2011/12, the Vienna Stock Exchange listed Bene AG could once again
continue with the positive dynamic of the previous quarters and thus
for the fifth consecutive quarter could achieve increases in sales
and earnings in almost all sales markets.

Significant sales growth in five consecutive quarters After the first
three quarters of the current business year, total sales of the Bene
Group reached EUR 132.5 million and thus were 10.1 % higher than the
reference value of the prior year (Q1-Q3 2010/11: EUR 120.3 million).
Whereas the segments UK, Germany as well as ,Other market´ showed
considerable increases in sales, Austria (EUR 33.8 million after EUR
40.8 million in the previous year´s reference period) and Russia (EUR
9.8 million after EUR 11.0 million in the previous year´s reference
period) still reported slight declines in sales. In the Germany
segment, Bene improved sales by 23.7 % to EUR 38.2 million in the
first nine months of the current reporting period (Q1-Q3 2010/11: EUR
30.9 million). Several key projects resulted in a sales growth of EUR
1.8 million or 13.0 % to EUR 15.6 million in the UK segment (Q1-Q3
2010/11: EUR 13.8 million). Likewise, the ,Other markets´ segment
showed a very positive development. In the third quarter, Bene has
significantly improved sales by 47.3 % or EUR 11.3 million to EUR
35.1 million in this segment (Q1-Q3 2010/11: EUR 23.8 million).

Disproportionately high increase in earnings - Break-even achieved in
third quarter The significant growth in sales, the well-targeted
control of the product portfolio in the different sales markets and
the focus on high-margin projects had a positive effect on the
earnings figures of the Bene Group. In the first nine months of the
current financial year, the EBITDA increased to EUR 4.0 million and
thus was significantly - EUR 6.4 million - higher than the previous
year´s reference value (Q1-Q3 2010/11: EUR - 2.3 million). Likewise,
the EBIT considerably improved after the first nine months of the
current financial year. Although the EBIT still reported a negative
value of EUR - 2.2 million, it was 74.9 % and thus clearly higher
than the reference value of the previous year (Q1-Q3 2010/11: EUR -
8.7 million). After the first three quarters, the gross profit margin
(revenue +/- inventory changes - expenses for materials and supplies
in relation to revenue) reached 54.5 %. Despite the achieved
expansion in sales, it was thus clearly higher than the reference
value of the prior year (Q1-Q3 2010/11: 52.4 %). Expenses for
materials and supplies increased by EUR 7.5 million to EUR 65.7
million in the first nine months (Q1-Q3 2010/11: EUR 58.2 million)
and represented 49.6 % of revenue (Q1-Q3 2010/11: 48.4 %).

Stable assets and capital structure In comparison with the balance
sheet date, as of October 31, 2011 the balance sheet total decreased
by EUR 8.2 million to EUR 141.0 million (January 31, 2011: EUR 149.2
million). Accordingly, as of the reference date, the equity ratio
came to a solid value of 23.6 % (January 31, 2011: 25.9 %).

Investments Additions to property, plant, and equipment and to
intangible assets reached EUR 4.5 million in the first nine months of
the current financial year (Q1-Q3 2010/11: EUR 4.3 million) and thus
remained at the previous year´s level. Investments in replacements at
the site in Waidhofen/Ybbs as well as the expansion and the
modernisation of the show rooms in London, Moscow, Hamburg and
Villingen-Schwenningen represented the largest items.

Headcount steady On the reporting date October 31, 2011, the Bene
Group occupied 1,321 employees in total and thus 43 persons or 3.4 %
more than on the reference date of the past year.

Outlook On the basis of the further increased incoming orders in the
third quarter of 2011/12, the Management of the Bene Group expects
once again a substantial growth in sales and a further improvement in
earnings for the final quarter of 2011/12. Against this background,
the Bene Group will probably significantly increase sales of the
financial year 2011/12 and will report a positive EBIT. In the course
of the business year, the Bene Group has again introduced new and
profitable product groups to the market. Thus, despite the growth
dynamics of the last quarters, the gross profit margin consistently
remained at a high level. This development encourages the Management
to resolutely continue on the chosen path. On the basis of the
increased profitability, the broad geographic spread and the active
expansion of the growth markets Asia / Pacific, the Bene Group is a
company, which is competitive in the market even in economically
challenging times.

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.

About Bene. Bene is convinced that there is a clear connection
between the design of office and work environments, corporate culture
and the success of a company. Bene´s concepts, products, and services
put this philosophy into reality. Development, design, and production
as well as consulting and sales are covered under one roof. With 85
sites in 36 countries and 1,321 employees worldwide, Bene offers its
customers regional access to all of its services. In the business
year 2010/11, consolidated sales of the Bene Group amounted to EUR
170.8 million. Bene is market leader in Austria and number six in
Europe.

The report for the first three quarters of 2011/12 is available on
the internet under www.bene.com/investor relations.

Attachments with Announcement:
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http://resources.euroadhoc.com/us/0kQS3HQq
http://resources.euroadhoc.com/us/4OzQx1QN

Further inquiry note:
Investor Relations:
Martina Vomela
Schwarzwiesenstraße 3
A-3340 Waidhofen/Ybbs
IR Hotline: +43-7442-500-3100
ir@bene.com

end of announcement euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/0kQS3HQq
http://resources.euroadhoc.com/us/4OzQx1QN

issuer: BENE AG
Schwarzwiesenstrasse 3
A-3340 Waidhofen/Ybbs
phone: +43/7442/500-0
FAX: +43/7442/500-3380
mail: office@bene.com
WWW: www.bene.com
sector: Furnishings & Furniture
ISIN: AT00000BENE6
indexes: ATX Prime
stockmarkets: official market: Wien
language: English