EANS-News: Bavaria Industriekapital AG / BAVARIA Industriekapital releases results for 2011

--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------

Annual Reports

München (euro adhoc) - BAVARIA Industriekapital releases results for
2011

•Group revenues increase 18% to EUR 750 million

•Annual Group surplus of EUR 2.4 million
•Serial Production/ Automotive segment books operating result (EBITDA) of EUR
32.3 million

Fiscal 2011 was another successful year for BAVARIA Industriekapital
AG. Thus, sales revenues on the Group level grew by 18% to EUR 749.9
million (prior year: EUR 638.4 million). 64.1% of said revenues, or
EUR 480.6 million, were derived from the Serial Production/
Automotive segment (prior year: 345.4 million). The operating result
before interest, taxes, depreciation and amortization (EBITDA)
amounted to EUR 32.2 million (prior year EUR 24.6 million); this
corresponds to an operating margin of 6.7% (prior year 7.1%).

On the other hand, losses were booked by the two business segments
Plant Engineering & Construction and Business Services. In this case,
the main money losers were the SwissTex companies in Switzerland and
France, with a negative EBITDA of EUR 22.1 million (prior year:
positive result of EUR 3.3 million). This will be recorded as a
one-time loss due to the deconsolidation of both companies as of the
fourth quarter.

Tax expense amounted to EUR 6.8 million (prior year EUR 5.8 million),
thus exceeding the annual Group surplus. This was due to the fact
that BAVARIA does not enter into profit-transfer agreements and
because the profits of individual investee companies are not offset
against the losses of other companies. The Group´s liquid funds
declined by EUR 10.4 million to EUR 45.6 million in 2011. At the same
time, financial liabilities (bank loans and factored receivables)
fell by EUR 20.6 million to EUR 42.5 million, thus allowing net
financial resources to increase by EUR 10.2 million to EUR 3.1
million.

The Group´s invested EUR 23.1 million in fixed assets. No dividend
was paid in fiscal 2011. On the other hand, EUR 2.5 million were
earmarked for share repurchases over the course of the year.

Given that BAVARIA Industriekapital AG is a majority family-owned
company, its investments are oriented towards a long-term horizon.
Reimar Scholz, BAVARIA´s Executive Board Chairman, explains: "Our
proposal to the General Shareholder Meeting will be for a dividend
payout of only 4 eurocents per share, so as to allow for further
growth in our investment activities. We have already acquired three
companies in the first quarter of the current year, and are
continuing to invest vigorously in the expansion of our companies."

At present, BAVARIA Industriekapital AG holds financial
participations in eleven companies in Europe and accounts for a total
workforce of roughly 5,200 employees. As in the past, BAVARIA´s core
strategy is to acquire majority shareholdings in companies that
exhibit a significant improvement potential.

For additional information about BAVARIA Industriekapital, please
visit our website at www.baikap.de.

Further inquiry note:
Reimar Scholz
Tel.: +49 89-729 8967-0
E-Mail: info@baikap.de

end of announcement euro adhoc
--------------------------------------------------------------------------------

company: Bavaria Industriekapital AG
Bavariaring 24
D-80336 München
phone: +49 (0)89 729 8967- 0
FAX: +49 (0)89 729 8967- 10
mail: info@baikap.de
WWW: http://www.baikap.de
sector: Holding companies
ISIN: DE0002605557
indexes:
stockmarkets: free trade: Berlin, München, Düsseldorf, Stuttgart, Open Market /
Entry Standard: Frankfurt
language: English