Frauenthal Holding AG

Earnings Release • Feb 26, 2013

Stock exchange announcement pursuant to section 48d(1) Stock Exchange Act

Preliminary results for 2012

The key event of the 2012 financial year for the Frauenthal Group was the sale of its Industrial Honeycombs Division to Japanese technology group IBIDEN. The transaction was completed on 1 June 2012. The previous year's income statement figures have been adjusted for comparative purposes. The results of the remaining Frauenthal Automotive and Wholesale Plumbing Supplies (SHT) divisions are reported under "Loss/profit for the period from continuing operations".

• Preliminary revenue in the two continuing operations, Frauenthal Automotive and Wholesale Plumbing Supplies, edged down by an overall EUR 4.3m or 0.8% year on year, to EUR 509.9m. Frauenthal Automotive's revenue shrank by 10.7% while Wholesale Plumbing Supplies registered a 7.3% increase.
• Preliminary EBIT from continuing operations dropped by EUR 6.6m year on year to EUR 7.9m, with Frauenthal Automotive's contribution down by EUR 9.2m and that of Wholesale Plumbing Supplies up by EUR 2.1m
• Group equity is seen at EUR 127.5 million (m), which would raise the equity ratio to an all-time high of 37.4%. The stronger equity base gives Frauenthal a good springboard for its expansion strategy.

EUR m	2012	Change	2011
Revenue from continuing operations	509.9	-0.8%	514.2
Total EBITDA	68.2	+89.4%	36.0
EBITDA from continuing operations	18.3	-25.9%	24.7
Total EBIT	56.3	+150.2%	22.5
EBIT from continuing operations	7.9	-45.5%	14.5
Equity	127.5	+28.9%	98.9
Equity ratio	37.4%	+10.3%	27.1%

*The gains on the disposal of, and the profit of the Industrial Honeycombs Division up to the time of the disposal are aggregated and shown under the profit from discontinued operations in accordance with IFRS 5.

Revenue in the Frauenthal Automotive Division was down by 10.7% due to the deterioration in the trading environment. Divisional EBIT slid by EUR 9.2m year on year, to a loss of EUR 1.9m. Earnings were depressed by a downturn in the commercial vehicle sector, an unfavourable product mix, sales price reductions and higher material costs.

Revenue in the Wholesale Plumbing Supplies Division grew by 7.3%. EBIT was EUR 12.2m – up by EUR 2.1m on the comparative period.

Frauenthal Automotive Division expects revenue to hold at last year's level in 2013 despite a slight contraction in demand. Revenue losses due to the discontinuation of the division's shaped parts operation (Linnemann-Schnetzer Form Parts, Ahlen, Germany) and the loss of some contracts for light springs should be offset by gains from higher shares of the heavy spring and air tank market segments, and the contribution of the Frauenthal Automotive Hustopeče (ex Worthington Cylinders) acquisition. The division's investment policy will focus on boosting quality and productivity.

The Wholesale Plumbing Supplies Division (SHT) anticipates moderate demand growth – especially in the commercial new build and renovation segments – and further advances in market shares as a result of its strong commitment to outstanding logistics and investment in sales space. The division is aiming to drive further improvements in its profitability by optimising its purchasing processes and pricing policies.

The figures for 2012 cited in this release are preliminary and unaudited. The final income statement and consolidated statement of financial position for 2012 will be published on 11 March 2013.

Contacts: Martin Sailer m.sailer@frauenthal.at

Erika Hochrieser e.hochrieser@frauenthal.at

Frauenthal Holding AG Rooseveltplatz 10 1090 Vienna Tel: +43 (0)1 5054206