Balda AG / Key word(s): Profit Warning/Forecast 07.11.2013 15:24 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Bad Oeynhausen, 7 November 2013 - Balda AG today announced that when preparing the annual financial statements for the 2012/2013 financial year, the company's new Management Board critically reviewed the medium-term business planning for the two US-based companies, Balda C. Brewer and Balda HK Plastics. Based on a more conservative estimate of their future performance, an impairment test triggered the necessity to write down the carrying amounts of the US companies by USD 14.9 million. Whether these impairment losses will be reported in the 2012/2013 annual financial statements or in the financial statements for the first quarter of the 2013/2014 financial year is still being clarified as part of the ongoing review of the annual financial statements. These impairment losses are offset by income of around USD 4.3 million from the reversal of an accrual resulting from a performance-related component of the purchase price (earn-out clause) for Balda C. Brewer. In connection with the ongoing review of the consolidated financial statements of Balda AG for the 2012/2013 financial year, publication of the annual financial report will probably be delayed by a further four to six weeks. As a consequence of the reduced business prospects for the US companies, Balda expects to generate consolidated sales of between EUR 70 million and EUR 80 million for the 2013/2014 financial year (previous forecast: EUR 85-90 million). Balda AG contact: Investor Relations team of Balda AG at CAT Consultants GmbH & Co. Tel.: +49 40 - 30 37 44-18 Fax: +49 40 - 30 37 44-20 E-mail: ir-balda@cat-consultants.de 07.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Balda AG Bergkirchener Str. 228 32549 Bad Oeynhausen Germany Phone: +49 (0) 57 34 / 9 22-0 Fax: +49 (0) 57 34 / 9 22-2604 E-mail: info@Balda.de Internet: www.balda.de ISIN: DE0005215107 WKN: 521510 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service
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Bad Oeynhausen, 7 November 2013 - Balda AG today announced that when preparing the annual financial statements for the 2012/2013 financial year, the company's new Management Board critically reviewed the medium-term business planning for the two US-based companies, Balda C. Brewer and Balda HK Plastics. Based on a more conservative estimate of their future performance, an impairment test triggered the necessity to write down the carrying amounts of the US companies by USD 14.9 million. Whether these impairment losses will be reported in the 2012/2013 annual financial statements or in the financial statements for the first quarter of the 2013/2014 financial year is still being clarified as part of the ongoing review of the annual financial statements. These impairment losses are offset by income of around USD 4.3 million from the reversal of an accrual resulting from a performance-related component of the purchase price (earn-out clause) for Balda C. Brewer. In connection with the ongoing review of the consolidated financial statements of Balda AG for the 2012/2013 financial year, publication of the annual financial report will probably be delayed by a further four to six weeks. As a consequence of the reduced business prospects for the US companies, Balda expects to generate consolidated sales of between EUR 70 million and EUR 80 million for the 2013/2014 financial year (previous forecast: EUR 85-90 million). Balda AG contact: Investor Relations team of Balda AG at CAT Consultants GmbH & Co. Tel.: +49 40 - 30 37 44-18 Fax: +49 40 - 30 37 44-20 E-mail: ir-balda@cat-consultants.de 07.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Balda AG Bergkirchener Str. 228 32549 Bad Oeynhausen Germany Phone: +49 (0) 57 34 / 9 22-0 Fax: +49 (0) 57 34 / 9 22-2604 E-mail: info@Balda.de Internet: www.balda.de ISIN: DE0005215107 WKN: 521510 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service
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