Heliad Equity Partners: Financial report published for first quarter of 2009


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               Gr├╝neburgweg 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, M├╝nchen, Stuttgart
 
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