DGAP-Adhoc: Balda AG: Balda AG to write down US investments

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
DGAP-Adhoc: Balda AG: Balda AG to write down US investments - sales guidance adjusted

Balda AG / Key word(s): Profit Warning/Forecast 07.11.2013 15:24 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Bad Oeynhausen, 7 November 2013 - Balda AG today announced that when preparing the annual financial statements for the 2012/2013 financial year, the company's new Management Board critically reviewed the medium-term business planning for the two US-based companies, Balda C. Brewer and Balda HK Plastics. Based on a more conservative estimate of their future performance, an impairment test triggered the necessity to write down the carrying amounts of the US companies by USD 14.9 million. Whether these impairment losses will be reported in the 2012/2013 annual financial statements or in the financial statements for the first quarter of the 2013/2014 financial year is still being clarified as part of the ongoing review of the annual financial statements. These impairment losses are offset by income of around USD 4.3 million from the reversal of an accrual resulting from a performance-related component of the purchase price (earn-out clause) for Balda C. Brewer. In connection with the ongoing review of the consolidated financial statements of Balda AG for the 2012/2013 financial year, publication of the annual financial report will probably be delayed by a further four to six weeks. As a consequence of the reduced business prospects for the US companies, Balda expects to generate consolidated sales of between EUR 70 million and EUR 80 million for the 2013/2014 financial year (previous forecast: EUR 85-90 million). Balda AG contact: Investor Relations team of Balda AG at CAT Consultants GmbH & Co. Tel.: +49 40 - 30 37 44-18 Fax: +49 40 - 30 37 44-20 E-mail: ir-balda@cat-consultants.de 07.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Balda AG Bergkirchener Str. 228 32549 Bad Oeynhausen Germany Phone: +49 (0) 57 34 / 9 22-0 Fax: +49 (0) 57 34 / 9 22-2604 E-mail: info@Balda.de Internet: www.balda.de ISIN: DE0005215107 WKN: 521510 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Voter Events by Valley Community Healthcare Aim to Empower

Updated Category News Views 11

Here's a game-changer for the community. Valley Community Healthcare (VCH) is stepping up, proving that healthcare doesn't just stick to check-ups and prescriptions. It's about the whole shebang—community empowerment included. This October, VCH is hosting two incredible voter events, collaborating with the Los Angeles County Registrar-Recorder's Mobile Voting Program....

Continue Reading
Weifang's Cultural Resurgence: A Global Epigraphy Fest

Updated Category News Views 9

A Historical Meltdown into Global Recognition Welcome to the ride where ancient stones talk and cultural borders vanish. We're diving into the beating heart of Weifang, a place you're probably hearing about now because the town's hosting a packed international media tour. And, for a change, this isn't just another tourist trap; it's a cultural adrenaline shot to the arm,...

Continue Reading
Innventure Faces Major Lawsuit Over Misleading Investors

Updated Category News Views 10

Missteps at Innventure: A Costly Lesson in Investor Trust The stock market is no stranger to drama, but Innventure's saga feels like a page ripped right out of a thriller novel. You’ve got accusations, alleged fabrications, and a swift drop in stock prices that’s left some investors shaking their heads. The company, nestled under the ticker NASDAQ:INV, finds itself...

Continue Reading
AEVEX Facing Class Action Deadline Amid Stock Turmoil

Updated Category News Views 12

Investors are no strangers to the rough and tumble of stock markets, but things get downright messy when trust is shattered. That's the sorry saga unfolding with AEVEX, where shareholders are feeling the heat after a sharp nosedive in stock value. The clock is ticking to join the class action, and any AEVEX investor worth their salt should pay attention. Unraveling...

Continue Reading
Masimo's smartSET™ Revolutionizes Patient Monitoring

Updated Category News Views 10

Breaking Ground in Patient Monitoring Let's dive into the gritty details behind Masimo's latest FDA-nod: the smartSET™ system. This gizmo ain't your ordinary pulse oximeter; it's a next-gen hand-holder for the medical world, poised to ride the AI wave straight into the clinic. They've cracked open a new way for clinicians to peek behind the curtain of patient vitals,...

Continue Reading
LG OLED evo W6: UAE Roadshow Starts with a Bang

Updated Category News Views 13

They've done it again, folks. LG Electronics is out there kicking up a storm with their all-new OLED evo W6 True Wireless Wallpaper TV, and they're bringing the action straight to the UAE's doorsteps. Imagine taking a stroll and stumbling upon this technological marvel at some fancy spot like The Lotus Lounge at Anantara The Palm Dubai Resort. This ain't just a TV, it's a...

Continue Reading
Hyliion Class Action Deadline Nears for Investors

Updated Category News Views 11

Potential Shockwaves for Hyliion Investors Investors are having a showdown with Hyliion (NYSE:HYLN) these days. With the looming October 27, 2026, deadline to jump into a securities class action, it seems Hyliion's latest escapade smells worse than a fish market on a hot day. We’ve got allegations here stronger than your uncle’s morning coffee. Understanding the Legal...

Continue Reading

Top 5 Most Recently Viewed Articles

Kansas Speaks Survey Reveals Public Opinions in 2025

Updated Category News Views 255

Insights from the 2025 Kansas Speaks Survey The Docking Institute of Public Affairs has recently published the newest findings from the Kansas Speaks Survey. This comprehensive survey, which reached out to 526 Kansas residents aged 18 and older, aims to gauge public opinion on a variety of important topics affecting the state. Survey Topics Explored This year's survey...

Continue Reading
Nozomi Networks Achieves Recognition in Deloitte Fast 500 Rankings

Updated Category News Views 216

Nozomi Networks Celebrates Growth Recognition Continued dedication to addressing the unique challenges of OT, IoT, and CPS cybersecurity has propelled impressive company growth. SAN FRANCISCO — Nozomi Networks, a leader in operational technology (OT), Internet of Things (IoT), and cyber-physical systems (CPS) security, proudly announces its inclusion in the Deloitte...

Continue Reading
Cryptocurrency Market Trends: Should You Sell Now?

Updated Category News Views 132

Market Trends in Cryptocurrency In recent days, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and XRP (CRYPTO: XRP) have witnessed significant declines, raising concerns among investors about whether it's time to panic sell. While market fluctuations are common, understanding the trends can help investors make informed decisions. Bitcoin's Current Position Bitcoin's...

Continue Reading
AAPS Challenges Government's Overreach with New Lawsuit

Updated Category News Views 148

Introduction to AAPS's Lawsuit The Association of American Physicians and Surgeons (AAPS) has taken a significant step to protect the privacy of millions of Americans. With a recent lawsuit announced, AAPS aims to block the requirement set to take effect requiring individuals to provide extensive personal information to federal agencies. This initiative is part of the...

Continue Reading
Redwood Living Celebrates Recent Success in Industry Rankings

Updated Category News Views 298

Redwood Living's Outstanding Achievements in Rankings Redwood Living, Inc. has recently made headlines with its notable performance in the competitive landscape of multifamily housing. Securing the #8 position in the Division III Power Rankings for the ORA® (Online Reputation Assessment) is a significant achievement, reflecting the company’s dedication to excellence in...

Continue Reading