Earnings Release • Nov 19, 2010
Earnings Release
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Over the course of the first three quarters UNITEDLABELS AG recorded a significant increase in Group sales and an improvement in consolidated profit, as well as achieving a record level of order backlog.
In the first nine months of 2010 Group revenue rose by 26% to €35 million, while EBITDA edged up to around €1.1 million and EBIT increased by €0.8 million to €0.7 million.
Once again, the performance of our foreign subsidiaries proved very encouraging indeed and provided a significant boost to sales. Italy achieved a threefold increase in revenue, while Spain and Belgium saw sales rise by around 50% and 30% respectively.
Newly developed marketing and growth concepts produced record order intake over the course of the current 2010 financial year. At the end of the reporting period, order backlog stood at €30.6 million (prev. year: €9.8 million). Of this amount, €20.6 million is attributable to the remaining fourth quarter. On this basis, the company is projecting an all-time high of around €57 million in annual sales.
At the same time, order intake for the 2011 financial year was encouraging, with incoming orders for next year increasing sixfold to €10.0 million (prev. year: €1.6 million)
In particular, the company's new textile and apparel collections have met with strong demand among retail chains. In parallel, business in Eastern Europe remained buoyant.
By the end of the third quarter, the company had opened four new airport shops; another two new stores are to be launched this year. Thus, by the end of the year UNITEDLABELS will be operating with ten shops at five different locations. The company is planning to add at least one more store at Madrid Airport in 2011.
We are committed to maintaining our high-quality portfolio by regularly adding the most popular licences available. The most recent additions include "Barbapapa", "The Smurfs" and "Wizards of Waverly Place". Since 2009, "Wizards of Waverly Place" has been aired more than 400 times on free TV, reaching an average audience of 1.1 million per episode and 80% of all 6- to 13-year-olds in German-speaking countries. Thus, we have further enhanced our portfolio by including a high-profile licence aimed at the target group of young teens.
Regards,
Peter Boder
Dear Shareholders,
| Key Figures 9-Months' report | ||||||
|---|---|---|---|---|---|---|
| 2010 € '000 |
2009 € '000 |
2008 € '000 |
2007 € '000 |
2006 € '000 |
||
| Revenue | 35,341 | 28,112 | 30,549 | 28,812 | 29,861 | |
| * EBITDA |
1,141 | (525) | 704 | 888 | 726 | |
| EBIT | 721 | (900) | 227 | 354 | 287 | |
| Profit before tax | 167 | (1,153) | (72) | 84 | 113 | |
| Profit for the year | 60 | (752) | (6) | (163) | (164) | |
| Order backlog | 30,590 | 9,825 | 14,738 | 17,830 | 15,011 | |
| Earnings per share (€) | 0.01 | (0.18) | 0.00 | (0.04) | (0.04) | |
| Number of embloyees | 139 | 131 | 139 | 136 | 126 |
* incl. amortisation of usufructuary rights
The financial statements for the quarter have been prepared in accordance with internationally accepted accounting standards, on the basis of the International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) promulgated by the International Accounting Standards Board (IASB).
In preparing the consolidated financial statements, the Management Board is required to make estimates and assumptions that affect the reported amounts of assets and liabilities/ equity as well as the amounts disclosed in the income statement. It is possible that these assumptions and estimates may not coincide with actual occurrences. Actual results may differ from forecasts if consumer behaviour or the actions of licensors or trading partners (customers, suppliers) change.
Uniform accounting policies have been applied to the quarterly financial statements. The financial statements are presented in euros.
Overall, Group revenue rose by 25.6% to €35.3 million in the first nine months of 2010 (prev. year: €28.1 million). The third quarter alone saw sales increase by 32.7% to €15.0 million (prev. year: €11.3 million). As was the case in the first half of the year, growth was driven by both segments: Special Retail and Key Accounts. In Spain and Italy, where business within the area of specialty retailing is particularly buoyant, we managed to boost revenue by an impressive 85% in the Special Retail segment. Growth was driven mainly by Patito Feo, an extremely popular licence in this region. At the same time, Key Account revenue in these countries rose by 74%.
Business in Germany was more subdued to begin with, but gathered pace during the third quarter. In total, revenue generated from sales in this region contracted by 3%. At the end of the second quarter this figure had stood at minus 11%. The decline in sales is partly a result of our decision to discontinue business within the area of specialty retailing in Germany, Belgium and France. In view of the significant order backlog for the remaining fourth quarter, particularly with regard to the German parent company, we are on track to exceed last year's sales. Revenue for the annual period as a whole is forecast to reach €57 million.
After the first nine months, EBIT totalled €0.7 million (prev. year: €-0.9 million) and consolidated profit amounted to €0.1 million (prev. year: loss of €0.8 million). Both earnings indicators clearly reflect the positive trend that has emerged over the course of the financial year to date. This is attributable to higher revenue achieved by the key subsidiaries within the Group.
As a result of the solid performance achieved within the area of Special Retail in Spain and Italy, this segment accounted for 37% of total sales (prev. year: 29%). Correspondingly, profit generated by the Special Retail segment rose sharply from €0.3 million a year ago to €1.1 million in the first nine months of 2010. What is more, this result includes nonrecurring expenses of €0.2 million attributable to the discontinuation of specialty retail business in Germany.
The Key Account segment saw revenue expand by 10% in the first nine months. Given the significant order backlog for the remaining fourth quarter, there is every chance of a further increase in Key Account revenue. Segment profit also edged up, rising to €2.0 million (prev. year: €1.3 million).
At the end of the reporting period order backlog was €30.6 million (prev. year: €9.8 million). Of this amount, €20.6 million is attributable to the remaining fourth quarter. On this basis, the company is projecting an all-time high of around €57 million in annual sales. At the same time, order intake for the 2011 financial year was encouraging, with incoming orders for next year increasing sixfold to €10.0 million (prev. year: €1.6 million).
Prompted by higher orders, inventory levels rose by 29.1% compared to December 2009, up to €10.2 million (prev. year: €7.9 million). Within this context, remaining inventories attributable to German operations amounted to €5.8 million (31/12/09: €4.1 million). €4.8 million (47%) of total inventories have already been sold as part of existing orders. Cash and cash equivalents were used for the purpose of expanding the Group's operations, as well as being directed at the four new airport shops owned by the company. As a result, cash held in bank accounts contracted from €3.7 million to €2.8 million and net debt was €8.4 million.
As at 30 September 2010, the Group's equity ratio was 51.2%, while equity covered noncurrent assets at a rate of 136% and liabilities at a rate of 105%. The company continues to hold 46,199 no-par-value treasury shares. The book value per share amounce to € 6.58.
At the end of September 2010, the UNITEDLABELS Group employed 139 people (prev. year: 131). Employees working in own shops increased from 12 to 38.
It goes without saying that we are committed to keeping our licence portfolio as current as possible. In the period under review, we added "Barbapapa", "The Smurfs" and "Wizards of Waverly Place" to our portfolio, thus further enhancing our merchandise range targeted at young female teens.
Since 2009, "Wizards of Waverly Place" has been aired more than 400 times on free TV, reaching an average audience of 1.1 million per episode on SUPER RTL and 80% of all 6- to 13-year-olds in German-speaking countries. "Wizards of Waverly Place – The Movie" was the second-best DCOM premiere of all times on Disney Channel.
UNITEDLABELS offers an extensive range of products in various merchandise categories. Our portfolio also includes classics such as "The Peanuts", "Looney Tunes", "The Simpsons" and "SpongeBob SquarePants", alongside many other licences.
As at 30 September 2010, UNITEDLABELS AG had a total of 4.2 million no-par-value shares. As at 30 September 2010, the Management Board as well as the Members of the Supervisory Board of UNITEDLABELS AG continued to hold the following shares and options:
Peter M. Boder held 2.63 million shares. The Chairman of the Supervisory Board Dr. Jens Hausmann held no shares; the members of the Supervisory Board Prof. Dr. Helmut Roland and Michael Dehler held 10,000 and 441 shares respectively. As at 30 September 2010, no options had been granted and no valid share option plan was in place.
The economy of the European Union as a whole has proved more dynamic than originally anticipated. At the same time, the growth forecast for Germany has been revised upwards by a significant margin. Indeed, Germany is acknowledged as a driving force behind economic growth in the European Union. Having said that, economic recovery at a pan-European level remains relatively subdued. It remains to be seen how unemployment rates will develop on the back of austerity measures, wage cuts and a general reduction in welfare benefits.
There can be little doubt that UNITEDLABELS is reliant on consumer purchasing power. However, given the significant level order backlog, we can look forward with confidence to the fourth quarter of 2010, which is traditionally one of the most important periods of the year. The same applies to the first few months of 2011.
This forward momentum stems from contracts for the supply of various textiles within the Key Account segment. In the run-up to Christmas, many retailers will be stocking merchandise supplied by UNITEDLABELS – accompanied by special promotional campaigns.
Furthermore, business in Eastern Europe has been encouraging, as a result of which we can be cautiously optimistic as regards the coming months and the 2011 financial year. Alongside Germany, Poland's economy has been particularly buoyant, much more so than other markets in Europe. Unlike other economies, Poland – a key sales market for UNITEDLABELS – has emerged from the recession with significant vigour.
The number of airport shops operated by the company continues to rise. By the end of the third quarter, the company had opened four new airport shops; another two new stores are to be launched this year. Thus, by the end of the year United Labels will be operating with ten shops at five different locations. The company is planning to add at least one more store at Madrid Airport in 2011. UNITEDLABELS takes part in the majority of tenders organised by major European airports, and additional stores are likely to be opened as a result of these efforts.
We are also committed to keeping our licence portfolio as current as possible. Well-established contacts and frequent visits to trade fairs and licensing events help us to keep up to date.
| 01/01/2010 30/09/2010 |
01/01/2009 30/09/2009 |
01/07/2010 30/09/2010 |
01/07/2009 30/09/2009 |
||||
|---|---|---|---|---|---|---|---|
| € | % | € | % | € | % | € | |
| Sales revenues | 35,340,693.90 | 100.0% 28.112.000,31 | 100,0% | 15.030.815,17 | 100,0% 11.287.800,78 | ||
| Cost of materials | (21,726,673.18) | (61.5)% | (16,848,588.96) | (59.9)% | (9,987,968.35) | (66.4)% | (6,387,718.41) |
| Amortisation of usufructuary rights | (3,055,842.56) | (8.6)% | (2,691,220.18) | (9.6)% | (1,309,365.61) | (8.7)% | (1,240,217.36) |
| 10,558,178.17 | 29.9% | 8,572,191.17 | 30.5% | 3,733,481.22 | 24.8% | 3,659,865.01 | |
| Other operating income | 405,897.25 | 1.1% | 285,203.14 | 1.0% | (85,406.07) | (0.6)% | 114,569.95 |
| Staff costs | (4,633,909.27) | (13.1)% | (4,631,101.44) | (16.5)% | (1,446,613.17) | (9.6)% | (1,482,934.11) |
| Depreciation of property, plant and equip ment, and amortisation of intangible assets (excl. amortisation of usufructuary rights) |
(420,140.90) | (1.2)% | (374,309.31) | (1.3)% | (149,332.02) | (1.0)% | (120,547.36) |
| Other operating expenses | (5,189,132.49) | (14.7)% | (4,751,505.09 | (16.9)% | (1,752,423.12) | (11.7)% | (1,559,297.31) |
| Profit from operations | 720,892.76 | 2.0% | (899,521.53) | (3.2)% | 299,706.85 | 2.0% | 611,656.17 |
| Finance income | 11,513.86 | 0.0% | 20,533.33 | 0.1% | 3,092.91 | 0.0% | 4,016.95 |
| Result from at-equity investments | (126,324.45) | (0.4)% | 56,235.90 | 0.2% | (89,474.40) | (0.6)% | (14,402.85) |
| Finance cost | (439,248.22) | (1.2)% | (330,460.28) | (1.2)% | (185,371.04) | (1.2)% | (104,032.32) |
| Net finance cost | (554,058.81) | (1.6)% | (253,691.05) | (0.9)% | (271,752.53) | (1.8)% | (114,418.22) |
| Profit before tax | 166,833.95 | 0.5% (1,153,212.57) | (4.1)% | 27,954.32 | 0.2% | 497,237.95 | |
| Taxes on income | (106,381.48) | (0.3)% | 401,437.94 | 1.4% | (60,444.48) | (0.4)% | (26,797.43) |
| Consolidated net profit / (loss) | 60,452.47 | 0.2 % | (751,774.63) | (2.7)% | (32,490.16) | (0.2)% | 470,440.52 |
| Group Statement of Comprehensive Income (IFRS) for the period 1 January to 30 September 2010 |
Group Statement of Cash Flows | (unaudited) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (unaudited) | 09/2010 T€ |
09/2009 T€ |
||||||||
| 01/01/2010 30/09/2010 |
01/01/2009 30/09/2009 |
01/07/2010 30/09/2010 |
01/07/2009 30/09/2009 |
Consolidated profit/loss for the year | 60 | (752) | ||||
| € | % | € | % | € | % | € | Interest income from financing activities | 428 | 310 | |
| Sales revenues | 35,340,693.90 | 100.0% 28.112.000,31 | 100,0% | 15.030.815,17 | 100,0% 11.287.800,78 | Depreciation of proberty, plant and equipment, and amortisation of intangible assets | 3,476 | 3,066 | ||
| Cost of materials | (21,726,673.18) | (61.5)% | (16,848,588.96) | (59.9)% | (9,987,968.35) | (66.4)% | (6,387,718.41) | Change in provisions | 182 | (441) |
| Amortisation of usufructuary rights | (3,055,842.56) | (8.6)% | (2,691,220.18) | (9.6)% | (1,309,365.61) | (8.7)% | (1,240,217.36) | Other non-cash expenses | 126 | (491) |
| 10,558,178.17 | 29.9% | 8,572,191.17 | 30.5% | 3,733,481.22 | 24.8% | 3,659,865.01 | 0 | |||
| Result from disposal of non-current assets | 18 | |||||||||
| Other operating income | 405,897.25 | 1.1% | 285,203.14 | 1.0% | (85,406.07) | (0.6)% | 114,569.95 | Change in inventories, trade receivables, and other assets | ||
| Staff costs | (4,633,909.27) | (13.1)% | (4,631,101.44) | (16.5)% | (1,446,613.17) | (9.6)% | (1,482,934.11) | not attributable to investing or financing activities | (7,823) | 3,357 |
| Change in trade payables and other liabilities not attributable to investing | ||||||||||
| Depreciation of property, plant and equip | or financing activities | 3,055 | (4,169) | |||||||
| ment, and amortisation of intangible assets (excl. amortisation of usufructuary rights) |
(420,140.90) | (1.2)% | (374,309.31) | (1.3)% | (149,332.02) | (1.0)% | (120,547.36) | Cash flows from operating activities | (477) | 879 |
| Other operating expenses | (5,189,132.49) | (14.7)% | (4,751,505.09 | (16.9)% | (1,752,423.12) | (11.7)% | (1,559,297.31) | Proceeds from the disposal of non-current assets | 144 | |
| Payments for investments in non-current assets | (2,222) | (964) | ||||||||
| Profit from operations | 720,892.76 | 2.0% | (899,521.53) | (3.2)% | 299,706.85 | 2.0% | 611,656.17 | |||
| Finance income | 11,513.86 | 0.0% | 20,533.33 | 0.1% | 3,092.91 | 0.0% | 4,016.95 | Cash flows from investing activities | (2,078) | (964) |
| Proceeds from bank loans | 2,891 | |||||||||
| Result from at-equity investments | (126,324.45) | (0.4)% | 56,235.90 | 0.2% | (89,474.40) | (0.6)% | (14,402.85) | |||
| Payment of dividends | 0 | (831) | ||||||||
| Finance cost | (439,248.22) | (1.2)% | (330,460.28) | (1.2)% | (185,371.04) | (1.2)% | (104,032.32) | Repayment of financial loans | (699) | (746) |
| Net finance cost | (554,058.81) | (1.6)% | (253,691.05) | (0.9)% | (271,752.53) | (1.8)% | (114,418.22) | Interest received | 12 | 21 |
| Profit before tax | 166,833.95 | 0.5% (1,153,212.57) | (4.1)% | 27,954.32 | 0.2% | 497,237.95 | ||||
| Interest paid | (439) | (331) | ||||||||
| Taxes on income | (106,381.48) | (0.3)% | 401,437.94 | 1.4% | (60,444.48) | (0.4)% | (26,797.43) | Cash flows from financing activities | 1,764 | (1,887) |
| Consolidated net profit / (loss) | 60,452.47 | 0.2 % | (751,774.63) | (2.7)% | (32,490.16) | (0.2)% | 470,440.52 | Net cash change in cash and cash equivalents | (791) | (1,972) |
| Currency translation | (91) | (57) | ||||||||
| Consolidated earnings per share | ||||||||||
| basic | 0.01 € | (0.18) € | Cash and cash equivalents at the beginning of the period | 3,694 | 4,986 | |||||
| diluted | 0.01 € | (0.18) € | Cash and cash equivalents | 2,813 | 2,956 | |||||
| Weighted average shares outstanding | ||||||||||
| basic | 4,153,801 shares | 4,153,801 shares | Gross debt bank | 11,247 | 6,041 | |||||
| diluted | 4,153,801 shares | 4,153,801 shares | Net debt bank | 8,434 | 3,084 | |||||
| Composition of cash and cash equivalents: | ||||||||||
| Cash and cash equivalents | 2,812 | 2,956 | ||||||||
| 8 |
| Consolidated earnings per share | ||
|---|---|---|
| basic | 0.01 € | (0.18) € |
| diluted | 0.01 € | (0.18) € |
| Weighted average shares outstanding | ||
| basic | 4,153,801 shares | 4,153,801 shares |
| diluted | 4,153,801 shares | 4,153,801 shares |
UNITEDLABELS Aktiengesellschaft, Münster
| 09/2010 T€ |
09/2009 T€ |
|
|---|---|---|
| Consolidated profit/loss for the year | 60 | (752) |
| Interest income from financing activities | 428 | 310 |
| Depreciation of proberty, plant and equipment, and amortisation of intangible assets | 3,476 | 3,066 |
| Change in provisions | 182 | (441) |
| Other non-cash expenses | 126 | (491) |
| Result from disposal of non-current assets | 18 | 0 |
| Change in inventories, trade receivables, and other assets not attributable to investing or financing activities |
(7,823) | 3,357 |
| Change in trade payables and other liabilities not attributable to investing or financing activities |
3,055 | (4,169) |
| Cash flows from operating activities | (477) | 879 |
| Proceeds from the disposal of non-current assets | 144 | 0 |
| Payments for investments in non-current assets | (2,222) | (964) |
| Cash flows from investing activities | (2,078) | (964) |
| Proceeds from bank loans | 2,891 | 0 |
| Payment of dividends | 0 | (831) |
| Repayment of financial loans | (699) | (746) |
| Interest received | 12 | 21 |
| Interest paid | (439) | (331) |
| Cash flows from financing activities | 1,764 | (1,887) |
| Net cash change in cash and cash equivalents | (791) | (1,972) |
| Currency translation | (91) | (57) |
| Cash and cash equivalents at the beginning of the period | 3,694 | 4,986 |
| Assets | 30/09/2010 € |
31/12/2009 € |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipment | 6,200,585.30 | 5,761,735.64 |
| Intangible assets | 9,306,044.51 | 8,971,806.64 |
| At-equity investments | 707,241.15 | 833,565.60 |
| Deferred tax assets | 4,080,016.65 | 4,080,016.65 |
| 20,293,887.60 | 19,647,124.53 | |
| Current assets | ||
| Inventories | 10,180,597.61 | 7,907,377.25 |
| Trade receivables | 19,192,804.98 | 13,205,372.99 |
| Other assets | 1,493,661.93 | 1,931,051.28 |
| Cash and cash equivalents | 2,812,408.34 | 3,694,490.52 |
| 33,679,472.87 | 26,738,292.04 | |
| Total assets | 53,973,360.47 | 46,385,416.57 |
Group Statement of Financial Position (IFRS) as at 30 September 2010 (unaudited)
UNITEDLABELS Aktiengesellschaft, Münster Group Statement of Financial Position (IFRS) as at 30 September 2010 (unaudited)
| EQUITY AND LIABILITIES | ||
|---|---|---|
| 30/09/2010 € |
31/12/2009 € |
|
| Equity | ||
| Capital and reserves attributable to the owners of the parent company |
||
| Issued capital | 4,200,000.00 | 4,200,000.00 |
| Capital reserves | 19,194,174.55 | 19,194,174.55 |
| Retained earnings | 2,883,209.63 | 2,883,209.63 |
| Currency translation | (456,694.80) | (366,135.90) |
| Consolidated unappropriated surplus | 2,052,778.91 | 1,992,326.44 |
| Treasury shares | (223,413.73) | (223,413.73) |
| Total equity | 27,650,054.56 | 27,680,160.99 |
| Non-current liabilities | ||
| Provisions for pensions | 1,037,415.25 | 937,270.00 |
| Financial liabilities | 2,932,318.59 | 2,976,892.00 |
| Trade payables | 825,001.83 | 901,776.64 |
| Deferred tax liabilities | 7,179.63 | 7,179.63 |
| 4,801,915.30 | 4,823,118.27 | |
| Current liabilities | -223.413,73 | -223.413,73 |
| Provisions | 965,076.45 | 883,358.06 |
| Current tax payable liabilities | 95,098.49 | 27,905.31 |
| Financial liabilities | 8,314,525.61 | 5,198,573.29 |
| Trade and other payables |
12,146,690.06 | 7,772,300.65 |
| 21,521,390.61 | 13,882,137.31 | |
| Total liabilities | 26,323,305.91 | 18,705,255.58 |
| Total equity and liabilities | 53,973,360.47 | 46,385,416.57 |
Primary reporting format – Customer segments
(unaudited)
Secondary reporting format – Geographical segments (in € '000) (unaudited)
| 2010 | ||||
|---|---|---|---|---|
| Unallocated | ||||
| in € '000 | Special Retail Key Account | items | Group | |
| Sales revenue | 13,234 | 22,107 | 0 | 35,341 |
| Segment expenses | (10,601) | (18,241) | (2,302) | (31,144) |
| Depreciation/amortisation | (1,528) | (1,829) | (119) | (3,476) |
| Segment result | 1,105 | 2,037 | (2,421) | 721 |
| Net finance cost | (428) | |||
| Result from at-equity investment | (126) | |||
| Result from ordinary activities | 167 | |||
| Taxes | (106) | |||
| Consolidated profit/loss | 60 | |||
| €m | Special Retail Key Account | Adminis | Group | |
| tration | ||||
| Segment assets | 16.0 | 24.4 | 13.6 | 54.0 |
| Segment liabilities | 4.6 | 10.1 | 11.6 | 26.3 |
| Sales revenues | 2010 | 2009 |
|---|---|---|
| Germany, Austria, Switzerland |
13,176 | 12,092 |
| Iberian Peninsula | 12,625 | 7,449 |
| France | 3,706 | 4,335 |
| Rest of the World | 5,834 | 4,236 |
| Group | 35,341 | 28,112 |
| Total assets | 2010 | 2009 |
|---|---|---|
| Germany, Austria, Switzerland |
33,887 | 32,223 |
| Iberian Peninsula | 12,530 | 8,661 |
| France | 1,185 | 1,247 |
| Rest of the World | 6,371 | 5,338 |
| Group | 53,973 | 47,469 |
| 2009 | ||||
|---|---|---|---|---|
| Unallocated | ||||
| in € '000 | Special Retail Key Account | items | Group | |
| Sales revenue | 8,098 | 20,014 | 0 | 28,112 |
| Segment expenses | (7,022) | (17,461) | (2,341) | (26,824) |
| Depreciation/amortisation | (825) | (1,282) | (80) | (2,187) |
| Segment result | 251 | 1,271 | (2,421) | (899) |
| Net finance cost | (310) | |||
| Result from at-equity investment | 56 | |||
| Result from ordinary activities | (1,153) | |||
| Taxes | 402 | |||
| Consolidated profit/loss | (751) | |||
| €m | Special Retail Key Account | Adminis tration |
Group | |
| Segment assets | 13.8 | 18.3 | 15,.3 | 47.5 |
| Segment liabilities | 3.8 | 7.0 | 5.9 | 16.7 |
| LABELS AG UNITED Gildenstraße 6 48157 Münster Germany phone: +49 (0) 251- 32 21- 0 fax: +49 (0) 251- 32 21- 999 [email protected] www.unitedlabels.com |
UNITEDLABELS Belgium N.V. Residentie Stockhouderskasteel Gerard Davidstraat 50 bus 0002 8000 Brügge Belgium Telefon: +32 (0) 50- 45 69 60 Telefax: +32 (0) 50- 31 28 22 [email protected] |
2010/2011 German Equity Forum, Frankfurt on the Main, |
|---|---|---|
| UNITEDLABELS Ibérica S.A. Av. de la Generalitat, 29E Pol. Ind. Fontsanta 08970 Sant Joan Despi Barcelona Spain phone: +34 93 - 4 77 13 63 fax: +34 93 - 4 77 32 60 [email protected] |
UNITEDLABELS Comicware Ltd. Unit 1501-2, Valley Centre, 80-82 Morrison Hill Road, Wanchai, Hongkong China phone: +85 (0) 225 - 44 29 59 fax: +85 (0) 225 - 44 22 52 [email protected] |
Analyst Conference March 2011 May, 24th 2010 Annual General Meeting |
| UNITEDLABELS France SAS ZAC du Moulin Rue de Marquette Batiment C n 10 59118 Wambrechies France phone: +33 (0) 328 - 33 44 01 fax: +33 (0) 328 - 33 44 02 [email protected] |
UNITEDLABELS Italia Srl. Via Frà Paolo Sarpi, 5d 50136 Firenze Italy phone: +39 (0) 55 - 61 20 35 0 fax: +39 (0) 55 - 61 20 57 9 [email protected] |
If you require further information |
| UNITEDLABELS Ltd. 4 Imperial Place Maxwell Road Borehamwood Herts WD 6 1 JN United Kingdom phone: +44 (0) 208 - 21 33 16 8 fax: +44 (0) 208 - 21 33 18 0 |
House of Trends europe GmbH Alenconer Straße 30 49610 Quakenbrück Germany phone: +49 (0) 54 31 - 90 86 0 fax: +49 (0) 54 31 - 90 86 22 [email protected] |
results, please contact: Mr. Timo Koch phone: +49 (0) 2 51 - 32 21 - 406 fax: +49 (0) 2 51 - 32 21 - 960 e-mail: [email protected] |
If you require further information on UNITEDLABELS or its financial results, please contact:
phone: +49 (0) 2 51 - 32 21 - 406 fax: +49 (0) 2 51 - 32 21 - 960 e-mail: [email protected] [email protected]
(unaudited)
| Subscribed | Capital | Revenue | Translation | Treasury | ||
|---|---|---|---|---|---|---|
| capital | reserves | reserves | reserve | shares | Total | |
| € '000 | € '000 | € '000 | € '000 | € '000 | € '000 | |
| Balance at 31/12/2008 | 4,200 | 24,385 | 4,373 | (285) | (223) | 32,450 |
| Currency translation | 0 | 0 | 0 | (57) | 0 | (57) |
| Dividend payment | 0 | 0 | (830) | 0 | 0 | (830) |
| Consolidated loss QIII 2009 | 0 | 0 | (752) | 0 | 0 | (752) |
| Total comprehensive loss for the period |
0 | 0 | (1,582) | (57) | 0 | (1,639) |
| Balance at 30/09/2009 | 4,200 | 24,385 | 2,791 | (342) | (223) | 30,811 |
| Currency translation | 0 | 0 | 0 | (24) | 0 | (24) |
| Consolidated loss 2009 | 0 | 0 | (3,858) | 0 | 0 | (3,858) |
| Total comprehensive income for the period |
0 | 0 | (3,858) | (24) | 0 | (3,882) |
| Dividend payment | 0 | 0 | (830) | 0 | 0 | (830) |
| Withdrawal from capital reser ves at parent company to offset loss |
0 | (5,190) | (5,190) | 0 | 0 | 0 |
| Balance at 31/12/2009 | 4,200 | 19,195 | 4,875 | (366) | (223) | 27,681 |
| Currency translation | 0 | 0 | 0 | (91) | 0 | (91) |
| Consolidated profit Q1I1 2010 | 0 | 0 | 60 | 0 | 0 | 60 |
| Total comprehensive income for the period |
0 | 0 | 60 | (91) | 0 | (31) |
| Balance at 30/09/2010 | 4,200 | 19,195 | 4,935 | (457) | (223) | 27,650 |
Barbara
śб.
Hannoh Montagna
新
AFRICAN
IF
UNITEDLABELS AG Gildenstraße 6 48157 Münster Germany phone: +49 (0) 251-32 21-0 +49 (0) 251 - 32 21 - 999 fax: [email protected]
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