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 - Seite 2

%).

Staff costs increased to EUR 33.4 million compared to EUR 29.3 million in
the previous year. This increase is the consequence of additional
expenditure caused by a growing average number of employees and accrued
expenses due to employees leaving the company. The staff cost ratio
decreased from 41.4 % to 39.8 %, though.

During the period under review, amortization, depreciation and impairment
losses rose to EUR 13.6 million following EUR 6.7 million in the previous
year. Depreciation primarily concerned the goodwill in the America segment
(EUR 7.0 million). This was necessary because a major customer announced to
do its own production in the future. Scheduled depreciation on property,
plant and equipment and intangible assets amounted to EUR 5.0 million.

At EUR 19.1 million, other operating expenses were higher than previous
year's EUR 16.8 million. Adjusted for extraordinary items, other operating
expenses only increased marginally and amounted to EUR 15.7 million
(previous year: EUR 15.2 million). This non-proportional development -
compared to the increase in sales revenues - reflects the cost reduction
measures introduced during the previous years.

Earnings before interest and taxes (EBIT) and before extraordinary items
amounted to EUR 1.4 million (previous year: EUR -0.9 million) and were thus
positive in accordance also with forecast. After amortization,
depreciation, impairment losses and extraordinary items, EBIT stood at EUR
-12.7 million during the reporting period, though.

At EUR -9.3 million, earnings before taxes (EBT) are significantly below
the previous year's value of EUR 5.3 million, which is primarily due to
aforesaid extraordinary items.

For the business year 2014 / 2015, Balda AG shows a consolidated net income
of EUR -12.7 million (previous year: EUR 5.9 million). Again, the changes
are primarily due to the extraordinary items. The earnings per share -
diluted and undiluted - accordingly amounted to EUR -0.22 compared to EUR
0.10 in the same period last year.

The consolidated balance sheet showed EUR 265.8 million on 30 June 2015 and
was thus at approximately the same level as in the previous year (EUR 263.3
million). Over the year, equity decreased slightly from EUR 241.8 million
to EUR 234.1 million. The decrease is mainly a consequence of the negative
consolidated net income. Hence, also the equity ratio of the Group fell
from 91.8 % to 88.1 %.

Developments after the end of the business year and outlook

On 23 September 2015 Balda AG announced the sale of all operating
subsidiaries. This is still subject to the approval of the Annual General
Meeting and the anti-trust authorities. The purchase agreement provides a