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HELMA Eigenheimbau AG achieves record revenue, earnings and new order intake in 2010 financial year according to preliminary figures, and publishes high-growth two-year outlook / Successful HELMA bond placing progress


HELMA Eigenheimbau AG / Key word(s): Preliminary Results
10.03.2011 / 08:45

HELMA Eigenheimbau AG achieves record revenue, earnings and new order intake in 2010 financial year according to preliminary figures, and publishes high-growth two-year outlook / Successful HELMA bond placing progress

Lehrte, March 10, 2011 - HELMA Eigenheimbau AG, the specialist for individual solid construction homes and sustainable energy concepts, successfully continued its growth trend in the 2010 financial year, according to preliminary consolidated IFRS figures. Revenue increased from EUR 62.4 million to around EUR 74.5 million in the year under review, representing 19.4% growth. The revenue share of the property development business leapt from EUR 6.1 million to EUR 15.6 million, in line with the company's published growth plans. Group total output increased by EUR 14.8 million in 2010, or 23.7%, to reach EUR 77.2 million.
Earnings before interest and tax (EBIT) improved by 247%, from EUR 1.10 million to EUR 2.72 million, which is particularly due to the marked revenue growth and related economies of scale. As a consequence, the EBIT margin on revenue rose from 1.8% to 3.7%, in line with budget. HELMA Eigenheimbau AG achieved a new record level of earnings in 2010 with earnings before tax (EBT) of EUR 1.9 million (previous year: EUR 0.2 million), and net income of EUR 1.3 million (previous year: EUR 0.2 million).

'We are very satisfied with the results that we achieved in 2010,' as Karl-Heinz Maerzke, Management Board Chairman of HELMA Eigenheimbau AG, commented on the record figures that were presented. 'In the year 2010 we experienced the most severe winter for over 30 years, and this not only significantly restricted our sector's construction activities during the first months of the year, but also from the end of November 2010. The results we achieved during these weather conditions underscore our business model's robustness. We also take a highly optimistic view of the future given our pleasingly high order book position, and the growth-drivers that we have successfully implemented,' Maerzke added.

RECORD ORDERS IN 2010, ORDER BOOK RISES BY 25%:

The HELMA Group raised its net order intake (houses and land) from EUR 86.6 million to EUR 97.6 million in 2010, thereby reporting a marked increase in new orders of EUR 11.0 million, or 12.7%. The net order book position, which is composed of orders that have not yet been finally settled, amounted to EUR 87.7 million as of December 31, 2010, due to a further very good sales year. As a consequence, the net order book position as of the balance sheet date was EUR 17.6 million, or 25%, above the previous year's level of EUR 70.1 million. This amount includes revenues of EUR 12.8 million partially realised according to the percentage of completion method (December 31, 2009: EUR 12.1 million). As a consequence, orders on hand represent a very solid basis for achieving the significant revenue and earnings growth that is targeted for the current 2011 financial year.
HIGH-GROWTH TWO-YEAR OUTLOOK:

The Management Board of HELMA Eigenheimbau AG is also assuming marked revenue and earnings growth for the 2011 and 2012 financial years. The company's budget envisages that consolidated revenue will increase to approximately EUR 100 million in 2011, and to around EUR 125 million in 2012. HELMA Eigenheimbau AG (classic building services business) and HELMA Wohnungsbau GmbH (property development business) are to be equal contributors to this year's budgeted Group revenue growth. The revenue share of the high-margin property development business will amount to around 25% prospectively. The growth-drivers in 2012 will in all likelihood come from the further expansion of the property development business, and the successful realisation of initial projects by newly founded HELMA Ferienimmobilien GmbH (please refer to the previous press release of March 10, 2011).

Based on the corporate budget described above, and the highest order book level in the company's history, the Management Board of HELMA Eigenheimbau AG anticipates EBIT of EUR 5.0-5.5 million in the current 2011 financial year, and EBIT of EUR 7.5-8.0 million in the 2012 financial year. This would imply that the EBIT margin on revenue would rise initially to more than 5%, and subsequently to the HELMA Group's targeted level of more than 6%.

SUCCESSFUL PLACING PROGRESS FOR HELMA BOND:

Following the expiry of less than half of the offering period running between December 1, 2010 and June 30, 2011, the company is pleased to announce that HELMA bonds have already been successfully placed in a total volume of around EUR 6 million. The company is very satisfied with the placing status that has been achieved, since this, as a component of the financing mix, already fully enables the further expansion of HELMA Wohnungsbau GmbH that was referred to in the outlook above. As a result, the inflow of further funds from the successive placing of the bond over coming months would enable further projects to be implemented that are not included in the budget above.

The HELMA bond, which entails an offering volume of up to EUR 10 million, can still be subscribed for by issuing a purchase order with German Securities Identification Number (WKN): A1E8QQ on the Düsseldorf Stock Exchange through almost all banks and direct banks. With a five-year maturity, a fixed 6.5% coupon per year, and a minimum investment of EUR 1,000, the HELMA bond is aimed at both private and institutional investors. HELMA intends to include the bond in the regulated unofficial market on the Düsseldorf Stock Exchange when the offer period ends. This would also enable the bond to be traded during its five-year maturity once the subscription period is over. The high degree of solidity and financial strength of HELMA Eigenheimbau AG is also underscored by Creditreform Rating AG's current corporate rating, which appraises HELMA Eigenheimbau AG with the investment grade BBB rating.

DISCLAIMER:

This announcement is solely for informational purposes, and represents neither an offer on the part of HELMA Eigenheimbau AG, nor a solicitation to issue an offer to purchase or to subscribe for securities. Interested investors should base their investment decision relating to the bond exclusively on the basis of the information relating to the securities and the risks connected with the purchase of the securities that is contained in the securities prospectus published by HELMA Eigenheimbau AG in connection with the public offering of the securities. The bond is subject to certain restrictions that are set out in the prospectus. The legally applicable securities prospectus has been published, and can be downloaded from www.HELMA-Anleihe.de. This announcement and the bond offering are not addressed to U.S. persons or to persons in the United States of America, Canada, Australia or Japan.

ABOUT HELMA EIGENHEIMBAU AG:

HELMA Eigenheimbau AG is a customer-oriented building services-provider offering a full range of services. The focus is on the development, planning, sale, and construction management of turnkey or partially completed detached and semi-detached houses using the solid construction method. Particularly the option of individual planning and individualisation without extra costs, as well as the company's outstanding know-how in the area of energy-efficient construction methods, are perceived on the markets as HELMA Eigenheimbau AG's unique selling propositions. With its persuasive sustainable energy concepts, the company has established itself as one of the leading providers of solar energy-saving homes, and is one of the most experienced companies in the solid construction house sector, having constructed several thousand owner-occupier homes. As a property development company, holiday home builder, and finance broker respectively, HELMA Wohnungsbau GmbH, HELMA Ferienimmobilien GmbH and Hausbau Finanz GmbH round out HELMA Group's product range.

INVESTOR RELATIONS CONTACT:

Gerrit Janssen, Management Board member/CFO
Tel.: +49 (0)5132 8850 113
E-mail: ir@helma.de


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Language: English Company: HELMA Eigenheimbau AG Zum Meersefeld 4 31275 Lehrte Deutschland Phone: +49 (0)5132/8850-0 Fax: +49 (0)5132/8850-111 E-mail: info@helma.de Internet: www.helma.de ISIN: DE000A0EQ578 WKN: A0EQ57 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart; Entry Standard in Frankfurt  
 
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