DGAP-Adhoc: Deufol SE: Results of the First Quarter 2013

Deufol SE / Key word(s): Quarter Results

14.05.2013 17:42

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Deufol SE: Results of the First Quarter 2013

- Sales EUR 76.4 million (previous year EUR 79.4 million)

- EBITDA 2.0 million (previous year EUR 3.7 million)

- EBITA from continuing operations 0.1 million (previous year EUR 1.4
million)

Hofheim, May 14, 2013

Sales trend
At EUR 76.4 million, total sales in the first quarter of 2013 were 3.7 %
lower than in the same period in the previous year. Adjusted for the slight
depreciation of the US dollar versus the euro which averaged 0.7 %, this
decline amounts to 3.6 %. In Germany (including the holding company), sales
were at EUR 43.3 million 5.9 % lower than in the same quarter in the
previous year. Around two-thirds of the decline in sales is attributable to
the closure of the Euskirchen location. In the Rest of Europe, sales rose
by 3.1 % to EUR 20.6 million. In the USA/Rest of the World, sales were 6.5
% lower than in the previous year, at EUR 12.5 million.

Income trend
Earnings before interest, taxes, depreciation and amortization (EBITDA)
were EUR 2.0 million in the first quarter (previous year: EUR 3.7 million).
Depreciation of tangible assets and amortization of other intangible assets
decreased from EUR 2.2 million to EUR 1.9 million.

The operating result (EBITA) amounted to EUR 0.1 million and was thus lower
than the previous year's figure of EUR 1.4 million. This result includes
one-off expenses in the amount of EUR 0.5 million in connection with the
EUR 26 million action for damages versus former managers of the company. In
the same quarter in the previous year, these expenses totaled EUR 1.10
million and were mainly incurred by the holding company.

The individual segments developed as follows in the first three months of
the year: In Germany, EBITA amounts to EUR 1.7 million (previous year: EUR
2.5 million). The lower results are mainly attributable to a lower volume
of business at two key locations. Customer business has picked up more
slowly here than in the previous year. In addition, the moderate economic
trend and the tough winter have curbed business development in the first
quarter. This has particularly affected our outdoor packaging activities.
In the Rest of Europe, EBITA fell from EUR 1.0 million to EUR 0.8 million.
This was mainly due to lower results for our Belgian location in Tienen.
The USA/Rest of the World segment realized a result of
- EUR 0.8 million (previous year: - EUR 0.3 million). Data Packaging
suffered here following the cancellation of orders from a major client. The
EBITA loss of Deufol SE (the holding company) was EUR 1.6 million, compared
to EUR 1.7 million in the previous year.

The result for the period amounted to - EUR 1.2 million (previous year: EUR
0.2 million). After deduction of the profit shares of noncontrolling
interests (EUR 0.02 million), there is a net loss of EUR 1.3 million
(previous year: profit of EUR 0.1 million) attributable to the shareholders
of Deufol SE. Earnings per share in the first three months were - EUR 0.029
(previous year: EUR 0.002).

Financial position
In the first three months, the cash flow provided by operating activities
amounted to - EUR 3.2 million and was thus lower than the level in the
previous year (EUR 5.7 million). This decrease is mainly attributable to
the EUR 7.3 million decrease in trade payables in the first quarter of
2013.

The financial liabilities of the Deufol Group increased in the first three
months of the fiscal year by EUR 4.5 million to EUR 75.4 million. As cash
and financial receivables simultaneously decreased (- EUR 1.1 million), the
net financial liabilities rose somewhat more strongly, by EUR 5.6 million
from EUR 55.0 million at the end of the year to EUR 60.6 million.

Key data of the first quarter 2013

figures in EUR thousand 2013 2012 change(%)
Sales 76,443 79,407 (3.7)
EBITDA 1,980 3,657 (45.9)
EBIT(A) 71 1,437 (95.1)
Adjusted EBIT* 539 2,537 (78.8)
EBT (678) 813 n/m
Income from continuing operations (1,244) 168 n/m
Loss from discontinued operation 0 (14) n/m
Income for the period (1,244) 154 n/m
of which attributable to noncontrolling
interests 22 79 (72.2)
of which attributable to equity holders of
parent (1,266) 75 n/m
Earnings per share (EUR) (0.029) 0.002 n/m
Operating cash flow (3,221) 5,730 n/m
Investments in tangible assets 1,292 3,331 (61.2)
Net financial liabilities 60,559 56,553 7.1
Employees (average) 2,694 2,693 0.0

* The adjusted EBIT for 2013 is adjusted for one-off expenses (EUR 0.47
million) and in 2012 for one-off expenses of EUR 1.1 million

Outlook - Planning confirmed
Deufol SE confirms its planning figures published for fiscal year 2013 in
its annual financial report. These envisage sales of between EUR 310
million and EUR 325 million and an operating result (EBITDA) of between EUR
18 million and EUR 20 million.

Contact:
Deufol SE
Claudia Ludwig
Johannes-Gutenberg-Strasse 3-5
65719 Hofheim (Wallau)
Tel.: +49 (6122) 50 1228
E-mail: Claudia.Ludwig@deufol.com

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Language: English
Company: Deufol SE
Johannes-Gutenberg-Straße 3-5
65719 Hofheim (Wallau)
Germany
Phone: +49 (6122) 50 1228
Fax: +49 (6122) 50 1300
E-mail: Claudia.Ludwig@deufol.com
Internet: www.deufol.com
ISIN: DE000A1R1EE6
WKN: A1R1EE
Indices: CDAX, Classic All Share, DAXsector All Transportation &
Logistics, DAXsector Transportation & Logistics, DAXsubsector
All Logistics, DAXsubsector Logistics, Prime All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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