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ots Ad hoc-Service: BALDA AG
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------
Bad Oeynhausen (ots Ad hoc-Service) - Corrected announcement on
behalf of the issuer:
In today's Ad-hoc-announcement, 8.06 a.m., the 3 third paragraph, fourth sentence, instead of:
"It is planned that earnings per share should go up 30 cents to 53 cents."
it must read:
"It is planned that earnings per share should go up by 30 percent to 53 cents."
The complete corrected announcement is:
- Balda with record results Sales and earnings up more than 100% - First-time dividend - Future growth also expected above the market average - Sales target of 215 million euros for 2001 Frankfurt/Bad Oeynhausen
- Balda AG, the manufacturer of plastic components for mobile phones, and a company noted on the new market of the Frankfurt Stock Exchange, in the financial year of 2000 has managed to boost its sales proceeds from 60.0 million euros (1999) by 100.3 million euro to 160.3 million euros. This is the equivalent of a 167 percent growth rate and well above the average for the mobile phones market (47 percent).
The earnings situation has developed most favourably. Earnings before interest, taxes and depreciation (EBITDA) has risen from 12.0 million euros to 33.9 million euros, thus almost trebling. In 2000 the EBITDA accounted for 20 percent of the total performance. Balda's earnings before interest and taxes (EBIT) more than trebled (228 percent). The EBIT rose from 7.1 million euros to 23.4 million euros. Earnings per share were more than five times as high, rising from 8 cents to 40.6 cents - despite the special Ericsson effect which will also continue to have a negative impact well into 2001. The cash-flow from current operations has increased from 2.4 million euros in 1999 to 15.2 million euros.
For the year 2001 Balda again expects sales to grow by 38 percent, and hence by more than the industry average (30 percent), to around 220 million euros. For 2002, a gain of around 40 percent to 307 million euros is being planned. The EBIT is set to rise by 46 percent to 34 million euros. It is planned that earnings per share should go up 30 percent to 53 cents. The company is still pursuing its long-term sales target of 500 million euros by the year 2005. For 2001 Balda will for the first time be paying a cash dividend which is expected to amount to 13 cents. The customers of Balda, based in Bad Oeynhausen, include names like Alcatel, Ericsson, Motorola, Nokia and Siemens, i.e. the leading global players on the mobile phones market. In the year under review, the Balda group employed 1,217 people on average (previous year: 552). The share of labour costs fell from 29.3 percent to 22.8 percent during the year. Starting in April, the company will also export its technology and know-how to China. It is proposed that this partnership should be extended and culminate in jointly owned production facilities. In addition to new customers, growth in 2001/02 will also be generated by new products including keyboard mats, head sets utilising blue tooth technology and an internal, galvanised aerial.
End ----------------------------------------------------- Internet: http://recherche.newsaktuell.deOriginal-Content von: Balda Aktiengesellschaft, übermittelt durch news aktuell