- Group net income amounted to EUR -2.7 million.
- Serial Production / Automotive net profit increased to EUR 9.4 million (previous year EUR 6.2 million).
- Holding company realized gains of EUR 0.5 million on sales of securities and dividends.
Consolidated earnings amounted to EUR -2.7 million in the first half of the year. The holding company’s cash and cash equivalents including the long-term financial assets amounted to EUR 124.1 million as at 30 June 2016, thereof EUR 52.9 million invested in long-term financial assets.
The Group’s total cash was EUR 137.4 million and the debt was (without financial assets) EUR 34.9 million. EUR 0.7 million was spent on share repurchases in the first half of the year.
In the first half of 2016, net earnings in the Serial Production / Automotive segment were EUR 9.4 million (previous year EUR 6.2 million). In Plant Engineering we generated a loss of EUR -3.6 million (previous year EUR -3.3 million) in the first half of the year. We usually see a seasonal improvement in earnings in the second half of the year. In Business Services the loss was EUR -9.4 million (previous year EUR -11.7 million) due to the inclusion of the seasonal calendar business.
We would like to thank you for your continued trust. Please do not hesitate to contact us with any suggestions for improvements or with any promising leads for new transactions.
For further questions please don’t hesitate to contact:
BAVARIA Industries Group AG
Reimar Scholz
Bavariaring 24
80336 Munich
Germany
Phone:+49 (0)89/72 98 967-0
Fax: +49 (0)89/72 98 967-10
Email: info(at)baikap.de