DGAP-Adhoc: MIFA Mitteldeutsche Fahrradwerke AG: Successful corporate bond issue

MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Issue of Debt/Bond

02.08.2013 15:31

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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MIFA: Successful corporate bond issue

Sangerhausen, August 2, 2013 - The Management Board of MIFA Mitteldeutsche
Fahrradwerke AG has resolved today, with the approval of the Supervisory
Board the issue of a EUR 25 million corporate bond with a five-year
maturity and a 7.50% coupon.

The bond was placed exclusively among institutional investors as a private
placement, with demand significantly exceeding the offer volume. The
application has been made to include the bond in the Frankfurt Stock
Exchange's Quotation Board from August 5, 2013 (trading on terms of issue),
and the issue's value date is August 12, 2013. MIFA plans to include the
bonds in the Frankfurt Stock Exchange's Entry Standard by circa October
2013 on the basis of a security prospectus that has yet to be approved.
Feri EuroRating Services AG awarded the bond a BBB-rating (investment
grade).

MIFA intends to use the net proceeds from the bond to further optimise its
financing structure: the refinancing of short-term bank borrowings should
sustainably boost MIFA's planning security and corporate flexibility. In
addition, the company plans to use some of the proceeds for future
investments - including the establishing of the brand portfolio, new
technological developments and the further automation of the value chain.
The proceeds are also intended to serve the additional expansion of working
capital, thereby supporting MIFA's further organic growth.

< End of the ad hoc announcement>

About the company:

MIFA Mitteldeutsche Fahrradwerke AG, which is based at Sangerhausen in
Germany's Saxony-Anhalt region, is Germany's largest manufacturer of
bicycles in terms of sales. The company produces an extensive range of
bicycle models ranging from entry-price through to premium. The components
utilised in bicycle production are purchased from renowned suppliers and
assembled at the company's single production location in Sangerhausen.
Business here focuses on project-related manufacturing to order for large
retail chains and OEM (Original Equipment Manufacturer) customers. E-bikes
have also been produced since the 2011 financial year. MIFA produces the
e-bike for automotive manufacturer smart, Deutsche Post's bicycle fleet,
and supplies municipal lending systems with multi-user vehicles. MIFA
acquired Berlin-based e-bike manufacturer Grace and Bavaria-based cult
bicycle forging company Steppenwolf in 2012, thereby intensifying its sales
activities with specialist dealers. MIFA sells its bicycles primarily in
its domestic market in Germany. Further sales markets are located mainly in
Western Europe. Both the operating business and administration and
logistics are managed from the single production site in Sangerhausen.

MIFA sold 546,000 bicycles in the 2012 financial year (previous year:
644,000), generating EUR 111.3 million of revenue, representing a 10.7 %
increase compared with 2011 (EUR 100.5 million). E-bikes comprised 30.0 %
of total revenue (previous year: 12.5 %). After adjusting for acquisition
effects, the company generated adjusted operating earnings (EBIT) of EUR
2.9 million (previous year: EUR 4.6 million), and adjusted net income of
EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been listed on
the stock market since May 2004. Its shares are traded in the Prime
Standard of the Regulated Market of the Frankfurt Stock Exchange.

Contact:

Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Telephone: 0611-205855-21
Fax: 0611-205855-66
Email: appoh@cometis.de

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Language: English
Company: MIFA Mitteldeutsche Fahrradwerke AG
Kyselhäuser Straße 23
06526 Sangerhausen
Germany
Phone: 03464-5370
Fax: 03464-537251
E-mail: b.mirau@mifa.de
Internet: www.mifa.de
ISIN: DE000A0B95Y8
WKN: A0B95Y
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München (m:access), Stuttgart

End of Announcement DGAP News-Service

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