Businessweek

Balda AG announced consolidated earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported sales revenue, continuing operations of EUR 19.7 million against EUR 6.0 million a year ago. EBITDA before extraordinary items was EUR 0.6 million against LBITDA before extraordinary items of EUR 1.5 million a year ago. LBIT before extraordinary items was EUR 0.8 million against LBIT before extraordinary items of EUR 2.0 million a year ago. Earnings before tax were EUR 11.5 million against EUR 134.7 million a year ago. Earnings after taxes, continuing operations were EUR 10.6 million against EUR 134.5 million a year ago. Earnings per share were EUR 0.00 against EUR 2.27 a year ago. Net finance income was EUR 12.5 million against EUR 136.9 million a year ago. For the nine months, the company reported sales revenue, continuing operations of EUR 35.6 million against EUR 29.4 million a year ago. EBITDA before extraordinary items was EUR 2.6 million against LBITDA before extraordinary items of EUR 3.3 million a year ago. EBIT before extraordinary items was EUR 0.2 million against LBIT before extraordinary items of EUR 4.8 million a year ago. Earnings before tax were EUR 23.1 million against EUR 126.4 million a year ago. Earnings after taxes, continuing operations were EUR 22.2 million against EUR 124.2 million a year ago. Earnings per share basic and diluted were EUR 0.20 against EUR 1.87 a year ago. Net finance income was EUR 25.1 million against EUR 132.7 million a year ago. Comprehensive income for the Group (sum total of continuing and discontinued operations) after nine months was EUR 11.9 million, down from EUR 109.8 million in the period from July 2011 to March 2012. The company provided earnings guidance for the year 2012/2013. For the year, the company expects consolidated sales from continuing operations in the area of EUR 60 million to 65 million and distinctly positive EBITDA from continuing operations both before and after extraordinary items. The Group's profitability before and after taxes will be strongly boosted by positive net finance income and the proceeds from the sale of the remaining TPK stake. As a result, both the earnings after taxes from continuing operations and the Group's comprehensive income are expected to be clearly positive.

Balda AG announced that the extra ordinary general meeting held to replace its three-member Supervisory Board with the removal of the Supervisory Board Chairman, Dr. Michael Naschke, and the election of rival candidates for the Supervisory Board members Irene Schetelig and Wilfried Niemann. The board also approved the proposal to pay a special dividend of EUR 1.50 for the current financial year 2012/2013.

Balda AG announced changes in the composition of its three-member Supervisory Board. Two Supervisory Board members, Yu-heng Kai and Ted Gerlach, resigned from their posts effective 28 February 2013. The Bad Oeynhausen Local Court appointed Wilfried Niemann (67) and Irene Schetelig (42) as new members of the control committee, following the company's proposal. Wilfried Niemann has been managing director of the family-owned enterprise Karl W. Niemann GmbH & Co KG, since 1980.

Balda AG announced consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported sales revenue of EUR 14.0 million against EUR 22 million a year ago. Loss from operations (EBIT) was EUR 1.2 million against EUR 6.1 million a year ago. EBT was EUR 5.2 million against LBT of EUR 6.4 million a year ago. Net profit from continuing operations was EUR 5 million or EUR 0.086 per basic and diluted share against net loss from continuing operations of EUR 6.4 million or EUR 0.182 per basic and diluted share a year ago. For six months, the company reported sales revenue of EUR 28 million against EUR 37.4 million a year ago. Loss from operations (EBIT) was EUR 1.2 million against EUR 7.1 million a year ago. EBT was EUR 12 million against LBT of EUR 11.2 million a year ago. Net profit from continuing operations was EUR 12 million or EUR 0.201 per basic and diluted share against net loss from continuing operations of EUR 13.2 million or EUR 0.403 per basic and diluted share a year ago, posted primarily due to positive effects from foreign currency items in net finance income. Cash flow from operating activities was EUR 0.9 million against 4 million a year ago. Cash payments for property, plant and equipment and intangible assets was EUR 1.1 million against EUR 1 million a year ago. EBITDA was EUR 0.5 million against LBITDA of EUR 5.4 million a year ago. Adjusted EBITDA for extraordinary items was EUR 2.5 million. Adjusted EBIT at EUR 0.7 million. The Board of Directors is forecasting sales revenues of between EUR 75 and EUR 80 million and a distinctly positive EBITDA before and after non recurring expenses.

Balda AG announced that James Lim left the Board of Directors of the company when his contract expired on December 31, 2012. In the future, he will focus exclusively on the reorientation of the Electronic Products segment. The Board of Directors of the company is currently headed by Dominik M ser as sole director.