DGAP-News

Balda AG: Final figures 2014 / 2015: At EUR 85.4 million, sales revenues have significantly exceeded the forecast, operating result affected by extraordinary items

DGAP-News: Balda AG / Key word(s): Final Results
Balda AG: Final figures 2014 / 2015: At EUR 85.4 million, sales
revenues have significantly exceeded the forecast, operating result
affected by extraordinary items

28.09.2015 / 12:38

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- Preliminary figures 2014 / 2015 confirmed: sales EUR 85.4 million,
EBITDA before extraordinary items EUR 6.4 million
- Consolidated net income negative at EUR -12.7 million due to value
adjustments

Bad Oeynhausen, 28 September 28 2015 - Today, Balda AG published its annual
report with the final figures for the financial year 2014 / 2015.
Accordingly, the Group generated sales revenues in the amount of EUR 85.4
million (previous year: EUR 70.5 million), which corresponds to a
21.1 % increase. This means that Balda Group's sales revenues have
developed significantly better than provided in the forecast. The increase
is primarily due to larger customer orders in different projects, new
business as well as currency exchange effects. This result in earnings
before interest, taxes, depreciation and amortization (EBITDA) and before
extraordinary items in the amount of EUR 6.4 million compared to EUR 4.0
million in the previous year. Consequently, the EBITDA margin before
extraordinary items was 7.7 %. After extraordinary items, the EBITDA was
EUR 1.5 million, though, after EUR 1.9 million in the year before. Special
items primarily include value adjustments in the America segment due to the
future loss of a major customer as well as one-off effects in connection
with legal disputes in the USA.

"We are pleased with the operating development of the Balda Group in the
past financial year, even though the loss of a major eyewear customer will
lead to further restructuring. Moreover, there remains some baggage that we
need to work on. We shall continue to vigorously pursue this goal.
Nevertheless, the development in the period under review shows that Balda
is on a good path, operationally, and that there is growth potential still
to be tapped", says Oliver Oechsle, sole Management Board member of Balda
AG.

Overview of the financial key figures

During the year under review, cost of materials increased due to more
materials-intensive articles sales in the Europe segment and amounted to
EUR 32.8 million compared to EUR 27.0 million in the previous reporting
period. Offset against the sales revenues figures, the cost of materials
ratio only increased marginally and stood at 39.1 % (previous year: 38.0