BAVARIA Industriekapital AG publishes financial report for third
quarter
Munich, November 26 2007: BAVARIA Industriekapital AG is continuing
on its growth track: sales revenues in the Group increased by around
41% to more than EUR 291 million in the first nine months of 2007,
mainly on the back of a change in the scope of consolidation. EBITDA
in operating subsidiaries rose from EUR 10.2 million to EUR 11.5
million. Portfolio companies which have been included in our
portfolio for less than one year (Elfotec AG, Swisstex AG and Almec
S.p.A.) and have therefore not been fully turned around as yet
contributed a total of EUR -3.9 million to the result.
In the first three quarters of 2007 Group EBITDA reached EUR 10.6
million. This figure had been about EUR 20 million higher in the
previous year on the back of releasing negative goodwill (non-cash
relevant). Under the assumption of a stable investment portfolio we
are expecting operating EBITDA of at least EUR 22 million (without
releasing negative goodwill). Our positive outlook is based on
traditionally higher profits generated by equipment engineering
companies in the fourth quarter. This is also driven by double-digit
million earnings from the sale of our investment Hamba Filltec on 15
October 2007.
Since BAVARIA Industriekapital AG was founded in 2003 sales revenues
have increased by 110% on average. At the end of 2007, the sales
revenues figure is forecast to reach around EUR 440 million. New
investments are only consolidated from the point of their
acquisition. The successful turnaround business is reflected in the
development of the results of BAVARIA's investments: in all the
material investments EBITDA increased by a total of EUR 63 million
compared to one year before being acquired.
CEO Reimar Scholz explains: "We are of the opinion that our
portfolio companies offer considerable potential to increase
earnings. In addition, further acquisitions are expected for the near
future. Our confidence is also expressed in the fact that we are
going to continue to buy own shares based on the current
authorization issued: effective 23 November a total of around 100,000
shares were bought back for EUR 1.3 million, about 1.5% of authorized
capital."
BAVARIA Industriekapital AG's 2006 revenues were EUR 333 million,
with an EBITDA of EUR 51 million. The company is listed in the Entry
Standard on the Frankfurt Stock Exchange (ISIN DE0002605557).
Headquartered in Munich, this industrial group invests in companies
with strong market positions and a potential to improve profits.
For further information please contact:
BAVARIA Industriekapital AG
Frau Svea Tröster
Investor Relations
svea.troester(AT)baikap.de
Tel +49 (0)89 7298 967 20
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BAVARIA Industriekapital AG
Bavariaring 18 München Germany
WKN:
260555; ISIN: DE0002605557;
Listed: Entry Standard in Frankfurter Wertpapierbörse, Freiverkehr in
Bayerische Börse München,
Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf,
Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische
Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover;
