Heliad Equity Partners GmbH & Co KGaA publishes 2008 Annual Report


Heliad Equity Partners GmbH & Co. KGaA / Final Results
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+++ Heliad Equity Partners GmbH & Co KGaA publishes 2008 Annual Report +++ Net loss for 2008 increases from EUR 25.1m to EUR 28.6m +++ EBITDA of EUR 5.9m in comparison to EUR -6.1m in the previous year
Frankfurt am Main, 31 March 2009 - Heliad Equity Partners (ISIN: DE000A0L1NN5) has today published its 2008 Annual Report and, consequently, revealed its IFRS consolidated figures for the previous fiscal year. Proceeds from the sale of financial assets and securities amounted to EUR 40.8m (previous year: EUR 8.9m). Earnings generated before interest, taxes, depreciation and amortisation (EBITDA) improved significantly to EUR 5.9m (previous year: EUR -6.1m) due to successful exits and relatively good operating performance by the majority of holdings.
The figures for EBIT and the net loss for the year published on 6 March 2009 have been revised as a result of further depreciations on financial assets in the amount of EUR 3.4m. The realised EBIT is consequently EUR -27.8m (previous year: EUR 4.2m) and the net loss for the year EUR 28.6m (net income of EUR 5.0m in the previous year's financial statements). The corresponding loss per share is EUR 0.41 (previous year's earnings: EUR 0.07). Depreciations of financial assets therefore total EUR 34.4m, of which shareholdings in listed companies accounted for EUR 24.8m. Compared to the provisional figures, the higher write-downs primarily involve additional fair value adjustments resulting in a EUR 3.1m devaluation of holdings in partner funds specialising in buyout, venture and early-stage financing to reflect the current difficult market environment, especially in the venture and early-stage segments.

Heliad's consolidated equity ratio amounted to 68% as at the balance sheet date (previous year: 78%). Cash amounted to EUR 24.9m based on the statutory accounts (HGB) and EUR 35.8 in the group.
As at 31 December 2008, NAV amounted to EUR 0.93. Based on a share price of EUR 0.34 as at the valuation date, this equates to a discount of about 63%.
To facilitate better comparison, the following table shows the audited consolidated IFRS figures alongside the published provisional figures and the previous year's results.


++ Heliad Konzern - Wesentliche Kennzahlen
Audited Provisional* Audited In EURm 31.12.2008 31.12.2008 31.12.2007

Revenues 
from the sale of financial assets 40.8 40.8 8.9 EBIT -27.8 -24.4 4.2 Write-ups of financial assets 1.0 1.0 21.9 Write-downs of financial assets 34.4 31.0 11.8 EBITDA 5.9 5.9 -6.1 Net income/loss -28.6 -25.1 5.0 Equity ratio 68% 70% 78%
* Adhoc news was published on 6 March 2009


The complete 2008 Annual Report can be downloaded from the Investor Relations page on the website (http://www.heliad.com).
Contact:
Heliad Equity Partners GmbH & Co. KGaA
Thomas Kunder
Chief Financial Officer
Phone: +49 69 71 91 59 65 39
E-Mail: investor-relations@heliad.com


31.03.2009  Financial News transmitted by DGAP

 
Language:     English
Issuer: 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@heliad.com
Internet:     www.heliad.com
ISIN:         DE000A0L1NN5
WKN:          A0L1NN
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr               in Berlin, München, Stuttgart
 
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