Heliad Equity Partners GmbH & Co. KGaA / Quarter Results
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++ Consolidated revenue of EUR 12.6 million
++ Net results of EUR -2.4 million for the period
++ Approx. EUR 40 million of investment capital
++ NAV of EUR 8.94 per share as of 31 March
Heliad Equity Partners GmbH & Co. KGaA (DE000A0L1NN5/ WKN A0L 1NN) achieved
consolidated revenue of EUR 12.6 million in the first quarter of 2009
(prior year quarter: EUR 8.1 million). The higher revenue can be attributed
primarily to the full consolidation of two subsidiaries, which were not yet
part of the group in the prior year quarter. No revenue was achieved from
the sale of financial assets or securities during the reporting period
(prior year quarter: EUR 8.1 million). The earnings before interest, taxes,
depreciation and amortization (EBITDA) was
EUR -0.4 million (prior year quarter: EUR 1.8 million).
The company reported a consolidated loss in the amount of EUR -2.4 million
for the reporting period (prior year quarter: EUR -8.3 million). The
primary reason for this was the continued negative capital market
environment, which resulted in depreciation on exchange-listed investments
of EUR 1.5 million.
The equity capital reported on the balance sheet as of 31 March 2009
amounted to EUR 62.9 million (as of 31 December 2008: EUR 65.1 million) and
thus significantly exceeded the market capitalization as of the reporting
date of EUR 17.3 million. The equity ratio was 63% as of the reporting
date. At the end of the first quarter, Heliad possessed liquid assets and
equivalents of EUR 35.4 million at the group level (EUR 20.0 million at the
holding level). Of these, EUR 30.4 million consisted of credit balances
with banks (EUR 15.2 million at the holding level). Thus, the market
capitalization of EUR 17.3 million as of the reporting date was bolstered
by 176% (116% on the holding level) with liquid assets. In addition to the
liquid assets and equivalents, Heliad has an unused credit line in the
amount of EUR 20 million, which will continue to be available until the end
of 2012. Thus, Heliad possesses investment capital in the amount of EUR
55.4 million for the group as a whole and EUR 40.0 million at the holding
level.
At EUR 8.94 per share, the net asset value (NAV) of Heliad as of 31 March
2009 was four percent below the level of the prior quarter. A major reason
for this was the decline in prices of Heliad's exchange-listed investments.
The share price of EUR 2.47 on the reporting date thus amounted to a 72%
discount from the NAV.
Ralf Flore, Chief Executive Officer of Heliad: 'In spite of the extremely
difficult market conditions, our investment companies continue to
experience stable growth. The fact that our asset light portfolio is not as
tied to the economy as some producing industries is paying off.
Furthermore, we are working closely with the individual management teams to
take suitable measures as needed. With around EUR 40 million in investment
capital, we are also in the comfortable situation of being able to realize
current investment opportunities and will therefore emerge from the crisis
in a stronger position.'
The complete first quarter report can be downloaded from:
http://www.heliad.de/investor-relations/veroffentlichungen/finanzberichte
++ About Heliad
Heliad is a publicly listed investment company which invests in high-growth
companies in German-speaking countries. Heliad relies in this respect on
established, owner-managed business models with sales of between EUR 10
million and EUR 100 million and a focus on service providers ('asset-light'
focus). With this investment focus and its buy-and-build strategy, Heliad
is positioned in the attractive niche between venture capital and
traditional buyouts. With around 4,500 employees, the twelve companies
currently in Heliad's portfo-lio generate combined sales of more than EUR
600 million. Further information about the company can be found at
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
20.05.2009 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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