DGAP-Adhoc

Deufol SE: Results of the First Quarter 2013

Deufol SE / Key word(s): Quarter Results

14.05.2013 17:42

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Deufol SE: Results of the First Quarter 2013

- Sales EUR 76.4 million (previous year EUR 79.4 million)

- EBITDA 2.0 million (previous year EUR 3.7 million)

- EBITA from continuing operations 0.1 million (previous year EUR 1.4
million)

Hofheim, May 14, 2013

Sales trend
At EUR 76.4 million, total sales in the first quarter of 2013 were 3.7 %
lower than in the same period in the previous year. Adjusted for the slight
depreciation of the US dollar versus the euro which averaged 0.7 %, this
decline amounts to 3.6 %. In Germany (including the holding company), sales
were at EUR 43.3 million 5.9 % lower than in the same quarter in the
previous year. Around two-thirds of the decline in sales is attributable to
the closure of the Euskirchen location. In the Rest of Europe, sales rose
by 3.1 % to EUR 20.6 million. In the USA/Rest of the World, sales were 6.5
% lower than in the previous year, at EUR 12.5 million.

Income trend
Earnings before interest, taxes, depreciation and amortization (EBITDA)
were EUR 2.0 million in the first quarter (previous year: EUR 3.7 million).
Depreciation of tangible assets and amortization of other intangible assets
decreased from EUR 2.2 million to EUR 1.9 million.

The operating result (EBITA) amounted to EUR 0.1 million and was thus lower
than the previous year's figure of EUR 1.4 million. This result includes
one-off expenses in the amount of EUR 0.5 million in connection with the
EUR 26 million action for damages versus former managers of the company. In
the same quarter in the previous year, these expenses totaled EUR 1.10
million and were mainly incurred by the holding company.

The individual segments developed as follows in the first three months of
the year: In Germany, EBITA amounts to EUR 1.7 million (previous year: EUR
2.5 million). The lower results are mainly attributable to a lower volume
of business at two key locations. Customer business has picked up more
slowly here than in the previous year. In addition, the moderate economic
trend and the tough winter have curbed business development in the first
quarter. This has particularly affected our outdoor packaging activities.
In the Rest of Europe, EBITA fell from EUR 1.0 million to EUR 0.8 million.
This was mainly due to lower results for our Belgian location in Tienen.
The USA/Rest of the World segment realized a result of