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Friday 14 August, 2009

BAVARIA Industriekapital AG

BAVARIA Industriekapital AG announces second qu...





- Turnover declines significantly compared to the prior year, manly
due to the financial crises
- Operating losses were considerably reduced compared to the first
quarter
- An increasing order book gives rise to a positive forecast for the
second half of 2009

Munich, 14 August 2009: The drastic downturn in the economy left an
indelible mark on the BAVARIA Group's revenues, earnings and
financial situation in 2009.

Group turnover in the first half-year of 2009 declined 23% to EUR
187.3 million compared to the same period a year ago. Not accounting
for changes in the scope of the consolidation, the decline would have
been 40%. The net earnings (EBITDA) for the operating subsidiaries
declined from EUR 10.7 million in the year-earlier period to minus
EUR 6.8 million. Compared to first quarter 2009, the loss in second
quarter 2009 was able to be significantly reduced from EUR 4.9
million to EUR 1.9 million.

The BAVARIA Group had cash and cash equivalents totalling EUR 41.8
million as at 30 June 2009 (compared to EUR 54.1 million in the
previous quarter). The dividend distribution of EUR 19.7 million has
been made in June 2009. The amount of debt to banks increased to EUR
19.7 million compared to EUR 16.1 million in the previous quarter.
This increase is attributable to payments for investments undertaken
especially in the K+S Group.

Reimar Scholz, Spokesman of BAVARIA Industriekapital's Board,
comments: "In light of uncertainties in terms of assessing the nature
and scope of the economic crisis, our portfolio companies drew their
conclusions and took the necessary steps with varying degrees of
delay. For this reason we had to make some changes in management. We
expect that we can again achieve operational profitability in the
second half of the year through the actions that were initiated. We
can already see a significant recovery in the June results for the
larger equity holdings K+S Group and Fonderie du Poitou."

The industrial holding also emphasizes that it expects to be able to
benefit from this crisis when making new acquisitions and
consequently expects to make further acquisitions in the second half
of the year.

BAVARIA Industriekapital AG is an industrial holding company which
acquires low-profit companies throughout Europe. Through active
restructuring and revitalization management it ensures the long-term
success of the companies acquired. The majority of the stock of
BAVARIA Industriekapital AG is family-owned and the company has been
listed on the Entry Standard All Share Index of the German Stock
Exchange since 2006. At present BAVARIA Industriekapital AG has
holdings in twelve companies and around 3,000 employees. In 2008 the
group turnover amounted to Euro 485 million and the group profit to
Euro 23 million.

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

We would be pleased to answer any further questions you may have:

BAVARIA Industriekapital AG
Svea Strohm
Bavariaring 24
80336 M√ľnchen

Phone: + 49 - (0)89/ 72 98 967-0
Fax: + 49 - (0)89/ 72 98 967-10
E-Mail: [email protected]


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