EANS-News: Hönle generates operating result excluding special items of TEUR 1,960

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quarterly report

Gräfeling/München (euro adhoc) - The Hönle Group's sales revenues
increased 8.7 % to TEUR 15,773 in the first quarter of financial year
2011/2012. The Hönle Group's operating result excluding special items
came to TEUR 1,960, which corresponds to the previous year's level.
Taking the value adjustment recorded on the Manroland AG receivables
in the amount of TEUR 1,131 into account, the EBIT stood at TEUR 829
(PY: TEUR 2,117). Earnings before tax amounted to TEUR 828 after TEUR
2,092 in the previous year and the consolidated result was TEUR 383,
down from TEUR 1,448 in the previous year. This corresponds to
earnings per share of EUR 0.08 (PY: EUR 0.27).

The Hönle Group's operating cash flow was TEUR 696 in the first
quarter of 2011/2012. The Hönle Group's equity capital ratio stood at
72.4 %.

Outlook: Hönle acquired the Raesch Group, a specialist in the quartz
glass segment, in February 2012. The Raesch Group consists of Raesch
Quarz (Germany) GmbH, Langewiesen and Raesch Quarz (Malta) Ltd.,
Malta. With his acquisition, Hönle continues its strategy of
strengthening its market position by means of acquisitions in
addition to organic growth. With the Raesch take-over, the proportion
of short-lived business assets in Hönle Group´s consolidated sales
increased further and the share of consumer goods or short-lived
business assets in Hönle Group´s total sales revenues is now above
50%. Hönle thus achieves greater independence from the systems
business, which is partly subject to cyclical fluctuations, and, at
the same time, taps a business field that offers good growth
potential. In particular the Asian economic area, in which the Raesch
Group generates a large proportion of its foreign sales revenues,
offers good development prospects for Raesch Group products.

The Raesch Group acquisition results in synergies in a number of
segments. Aladin GmbH and UV-Technik Speziallampen GmbH use quartz
glass tubing from the Raesch Group to manufacture UV medium-pressure
and low-pressure lamps. Synergies result from transferring
manufacturing stages of the two companies to the Raesch Group. As a
consequence, production processes can be made more efficient and, at
the same time, more cost effective. Moreover, the Malta location
provides tax advantages. We also expect positive effects to arise
from use of the Hönle Group sales network in conjunction with the
Raesch Group sales network. In all, we assume that the Raesch Group
will experience sustained positive development as we see good growth
potential for quartz glass tubing in the most varied segments of
industry. Consolidation of the Raesch Group takes place as of 1
January, 2012.

A new investor was found for Manroland AG's sheetfed offset division
at the Offenbach production site, which will operate under the name
of Manroland Sheetfed GmbH in the future. Langley Holdings plc.
acquired Manroland Offenbach in February 2012. The British
engineering group, Langley Holdings plc., specializes in mechanical
and plant engineering. As a result of the acquisition, a sound
investor that offers the company a long-term perspective was found.
Following sales with Manroland that were still strong in the first
quarter, Hönle expects that Manroland's insolvency will impact on
sales and earnings in the second quarter. Sales revenues from
business with Manroland are expected to increase again starting from
the third quarter, while the positive effects provided by the drupa
trade fair will probably be reflected in the fourth quarter. Despite
a lower sales volume due to Manroland's insolvency, the initiated
cost reduction measures are expected to lead to earnings from
business with Manroland in the future that will be on par with the
level reached prior to the insolvency. However, a prerequisite for
this is that the future quarterly sales generated from business with
Manroland amount to at least 70 % of the sales revenues achieved in
the previous year. Negative earnings effects from Manroland's
insolvency are therefore likely to impact only on the first six
months of the 2011/2012 financial year.

Owing to consolidation of Mitronic GmbH and of UV-Technik
Speziallampen GmbH in the consolidated financial statements, the
Hönle Group's portfolio of incoming and existing orders in the
current financial year exceeds the previous year's level. After a
sluggish order situation in October and November, incoming orders
have picked up noticeably since December. In addition, the Hönle
Group has again noticed an improved mood on the sales markets lately.
Provided that the general economic conditions do not deteriorate, the
Management Board´s expectations for the Hönle Group are of sales
revenues ranging from EUR 75 million to EUR 80 million in the
2011/2012 financial year, which includes the consolidated sales
revenues generated by the Raesch Group as from January 2012. The
operating result is expected to be between EUR 1.5 to 2.0 million in
the second quarter and between EUR 2.5 to EUR 3.5 million in the
third and fourth quarter.

About Hönle: Dr. Hönle AG is a listed technology company with head
office in Gräfelfing near Munich. With a staff level of ca. 500
employees, the Hönle Group is one of the world´s leading systems
suppliers in the UV technology segment. The systems are used for
drying inks and coatings, curing adhesives and plastics, disinfecting
surfaces, and in the simulation of natural sunlight. The Company´s
business activities focus also on the development and sale of
industrial adhesives and casting compounds. The Group is represented
worldwide at 50 locations in more than 20 countries by own companies
and sales partners.

Further inquiry note:
Peter Weinert
Tel.: +49 89 85608 173
E-Mail: peter.weinert@hoenle.de
Web: www.hoenle.de

end of announcement euro adhoc
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company: Dr. Hönle AG
Lochhamer Schlag 1
D-82166 Gräfeling/München
phone: +49 89 85608 0
FAX: +49 89 85608 101
mail: ir@hoenle.de
WWW: www.hoenle.de
sector: Instrument Engineering
ISIN: DE0005157101
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English