DGAP-News: Heliad Equity Partners: Investment write-downs lead to loss being shown on single-entity financial statements ++ No dividends for the 2010 financial year ++ Target IFRS consolidated EBITDA securely achieved ++ New management sets course for fut
(firmenpresse) - DGAP-News: Heliad Equity Partners GmbH&Co. KGaA / Key word(s):
Preliminary Results/Dividend
Heliad Equity Partners: Investment write-downs lead to loss being
shown on single-entity financial statements ++ No dividends for the
2010 financial year ++ Target IFRS consolidated EBITDA securely
achieved ++ New management sets course for future growth
16.02.2011 / 08:14
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Heliad Equity Partners GmbH&Co. KGaA ('Heliad') is publishing initial key
preliminary data for business developments in 2010. In line with forecasts,
Heliad's separate-entity financial statements show a loss of EUR -10.6
million, with an IFRS consolidated EBITDA of between EUR 5 and 10 million.
Thus, Heliad will not be paying dividends for the financial year gone by. A
major reason for this unsatisfactory development, also reflected in the
figures for EBIT, consolidated net income and net asset value, are the
adjustments to the carrying amounts of investments made at two portfolio
companies, which had shown deterioration in 2010 and hence required
restructurings. Appropriate measures have already been introduced to
improve the situation at the companies in question.
Following an in-depth analysis by the new management team, the reasons for
the unsatisfactory development in 2010 and the years before have been
identified, and a key strategic and structural change of course has been
set, so as to raise the company's potential. Thus, in 2011, the development
of existing companies will be front and centre. In addition, selective
add-on acquisitions of additional investments will be encouraged, to press
ahead even further with the focus on majority shareholdings in medium-sized
companies in market niches.
As part of the adjustment to net earnings, Net Asset Value ('NAV') was
retroactively reduced to EUR 5.62 per share. Going forward, this will be
reported on a quarterly basis, since in the future regular valuations of
unlisted investments are to be made not just annually but also quarterly,
in order to guarantee real-time reporting.
With its new CEO, Bernd Sexauer (48), Heliad's management has now been
taken over by an industry expert who has held responsible positions at
established and successful investment companies. Mr. Sexauer will be
supported by an experienced, interdisciplinary team, which has been
strengthened by the addition of even more professionals with work
experience at well-known firms. At Heliad, consequently, the areas of
acquisitions and investment management will now continue to be expanded and
optimised. A basis for this has already been put in place and introduced at
the companies. The measures taken can already be seen to be having an
effect.
Bernd Sexauer, CEO of Heliad: 'We have made the necessary course
corrections to move Heliad in the direction of sustainable growth. Our very
good level of liquidity (ca. EUR 31.5 million at the Group level), the new
team and our even more proactive acquisition strategy enable us to take our
place among the major players in further market developments, thereby
creating rising values for our shareholders in the future.'
The audited figures for the year and the annual report will be published on
31 March 2011.
++ About Heliad
Heliad is a corporate group which invests in growth companies in the areas
Germany, Austria and Switzerland, providing active management support in
their development. The companies of the Group typically generate more than
EUR 10 million in annual sales and are generally majority-owned by Heliad.
Additional information on the company can be found at www.heliad.com.
Contact:
Heliad Equity Partners GmbH&Co. KGaA
Bernd Sexauer
CEO
Phone: +49 69 71 91 59 65 0
E-mail: investor-relations(at)heliad.com
End of Corporate News
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16.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Heliad Equity Partners GmbH&Co. KGaA
Grüneburgweg 18
60322 Frankfurt am Main
Deutschland
Phone: +49 69 71 91 59 65 0
Fax: +49 69 71 91 59 65 11
E-mail: info(at)heliad.com
Internet: www.heliad.com
ISIN: DE000A0L1NN5
WKN: A0L1NN
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, München, Stuttgart
End of News DGAP News-Service
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112346 16.02.2011
Datum: 16.02.2011 - 08:14 Uhr
Sprache: Deutsch
News-ID 33218
Anzahl Zeichen: 0
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Kategorie:
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