BALDA
Further losses in first half of 2010 as reorganisation continues / Improvements evident in second quarter
Precision injection moulder Balda (Bad Oeynhausen / Germany; www.balda.de) said it believes its business is moving in the right direction as it reported a EUR 200,000 operating profit (EBIT) for the second quarter of 2010 following an operating loss of EUR 2.3m in the first three months of the year. The first half operating loss of EUR 2.1m compares with a profit of EUR 2.5m in the first six months of 2009. Sales followed a similar trend with a year-on-year fall of 4% in the first six months of 2010 to EUR 66.3m, but a 44% year-on-year increase in the second quarter to EUR 37.4m.
 Balda CFO Rainer Mohr (Photo: Balda) |
“As a whole, we are quite satisfied with the development of the company and the net result”, said Balda CFO Rainer Mohr. “We are on the right track, we just need to accelerate somewhat in order to achieve our goals.” He added that the company aims to have improved its operating result by the end of 2010 to the 2009 level of EUR 2.5m.
The Balda group continued its reorganisation and restructuring during the second quarter of 2010, which involves, in particular, the “MobileCom” mobile telephone and electronic products business sectors. “MobileCom” posted an operating loss of EUR 3.3m in the first six months of 2010, compared with a profit of EUR 5.2m in the same period of 2009. Sales fell to EUR 35.3m from EUR 41.7m in the first six months of 2009. In future, the division will concentrate production at Balda’s new site in Beijing / China. The first projects have already moved from the company’s production site in Suzhou / China to the country’s capital. The restructuring has led to the loss of 1,283 “MobileCom” employees in Suzhou.
The electronic products sector recorded an operating loss of EUR 2.5m in the first half of 2010, on sales up 74% year-on-year at EUR 14.9m. The medical sector reported an operating profit of EUR 1.1m in the first six months of 2010, down from EUR 2.3m in the same period of 2009 and sales fell by 18% year-on-year to EUR 13.1m for the period. In both sectors the second quarter showed an improvement on the first three months of the year.
Balda is maintaining its forecast of sales growth of 10 to 15% in full year 2010, with the operating result remaining unchanged on the previous year.
The Balda group continued its reorganisation and restructuring during the second quarter of 2010, which involves, in particular, the “MobileCom” mobile telephone and electronic products business sectors. “MobileCom” posted an operating loss of EUR 3.3m in the first six months of 2010, compared with a profit of EUR 5.2m in the same period of 2009. Sales fell to EUR 35.3m from EUR 41.7m in the first six months of 2009. In future, the division will concentrate production at Balda’s new site in Beijing / China. The first projects have already moved from the company’s production site in Suzhou / China to the country’s capital. The restructuring has led to the loss of 1,283 “MobileCom” employees in Suzhou.
The electronic products sector recorded an operating loss of EUR 2.5m in the first half of 2010, on sales up 74% year-on-year at EUR 14.9m. The medical sector reported an operating profit of EUR 1.1m in the first six months of 2010, down from EUR 2.3m in the same period of 2009 and sales fell by 18% year-on-year to EUR 13.1m for the period. In both sectors the second quarter showed an improvement on the first three months of the year.
Balda is maintaining its forecast of sales growth of 10 to 15% in full year 2010, with the operating result remaining unchanged on the previous year.
10.08.2010 Plasteurope.com [216972]
Published on 10.08.2010
German version of this article...