EANS-Adhoc: Balda AG revises forecast for 2010
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information
15.10.2010
Balda AG revises forecast for 2010
Planned EBIT of about 2.5 million euros is significantly undercut
Pre-tax profit (EBT) is positive
Bad Oeynhausen, 15 October 2010 - Balda AG, listed on the SDax of the Frankfurt Stock Exchange, has revised its forecast for the business year 2010 based on the preliminary results of the third quarter of 2010. The plastic systems specialist is not expected to achieve the forecasted figures in turnover and operating profit in this business year although revenues will still reach the lower range of the planned 10 to 15 percent increase. However, the Balda Group will fall clearly short of the forecasted operating profit (EBIT) of about 2.5 million euros. The EBIT is likely to be negative in the single-digit range. In contrast, profit before tax (EBT) will be positive mainly due to the disclosed earnings contributions of TPK.
Responsibility for the low sales growth and the reduced forecast of the operating result, as already emphasized by the company in the half-year report of 2010, lies with the continued pressure on margins and the reduction of the scheduled customer orders until year-end 2010 in the MobileCom business in China. New orders from new customers, such as Samsung, for the mass production of plastic systems in the MobileCom business will essentially not have an impact on revenues until the fiscal year 2011.
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Company Profile Balda AG
The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical industry. The customers of Balda are leaders in business from the mobile, entertainment and electronic communications as well as pharmaceutical and medical technology markets. The group has an international position with product sites in China, Malaysia and Germany. A subsidiary in the United States serves North American customers in product design and development. As part of a shareholding in a leading manufacturer of touch screens in China, Balda participates in the dynamic touch screen displays market.
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For further questions please contact: Balda AG, Clas Röhl, Phone: +49 (0)5734 922 2728, Fax: +49 (0)5734 922 2604. Email: croehl@balda.de, Internet: www.balda.de
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This ad hoc announcement includes "forward-looking statements" which are based on the current expectations of the management of Balda. They are subject to risks and uncertainty because they relate to events and depend on circumstances that will occur in the future, such as, for example, developments in the mobile communications industry, changes in technology and the ability to timely and successfully develop new products and various other factors. Balda does not undertake any obligation to update publicly or revise forwardlooking statements except to the extent legally required. This ad hoc announcement is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or elsewhere. The shares in Balda AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) unless registered under the Securities Act or pursuant to an exemption from such registration. The Shares have not been and will not be registered under the Securities Act.
end of announcement euro adhoc
Further inquiry note:
Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de
Branche: Semiconductors & active components
ISIN: DE0005215107
WKN: 521510
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade