IR News Archive

U.C.A. AG has acquired a 3.69% holding in the WOMANIZER Group.

After successful revenues growth in recent years, the WOMANIZER Group, inventor of the patented, revolutionary Pleasure Air Technology^® is thus strengthened as it embarks on the next exciting growth phase.

Michael Lenke, the company's founder and CEO, is banking on internationalisation and is making use in this respect of the strength of a powerful financial partner whom he has succeeded in winning over for the WOMANIZER Group. Under the management of Dr. Richard Lenz, who represents a group of businessmen and Family Offices, he aims at increased expansion in Asia and North America with the premium products of WOMANIZER as well as the continued development of the company's product portfolio.

During the business year 2012 U.C.A. achieved a surplus from exits amounting to TEUR 349 (previous year TEUR 0). The company achieved revenues and other operating income amounting to TEUR 85 (previous year TEUR 965). The preliminary balance from interest earnings and interest paid amounts to TEUR 49 (previous year TEUR 18). Compared with this, the overall costs amounted to ./. TEUR 523 (previous year ./. TEUR 620). The result of ordinary business before bad debt charges amounts to ./. TEUR 40 (previous year TEUR 363).

These figures do not yet take into account the bad debt charges for 2012, which were largely caused by the decrease in price of the shares in DeTeBe and aovo Touristik. These are expected to amount together to a total of approx. EUR 2.5 million. For the valuation of its listed holdings at the end of the year, U.C.A. uses the closing rate on 31.12 for the U.C.A. statements of accounts, irrespective of their intrinsic value.

The result of ordinary business in 2012 including bad debt charges is therefore expected to reveal a loss of up to EUR 2.5 million. However, U.C.A.'s free liquidity - within the AG and within the Group - remains stable and will continue to grow during 2013 with an improved costs structure, including the proceeds from the sale of shares and purchase price inflows, thereby permitting new investment.

U.C.A. will intensify its M&A activities for its own portfolio, but also on behalf of third parties, and will also simplify its organisational structures for financial reasons.

The discussions regarding a possible de-listing of U.C.A. shares has unsettled some shareholders. The fact is that the U.C.A. shares continue to be listed on all German stock exchanges, and that they will remain listed, primarily on the m m:access of Munich Stock Exchange. Inasmuch as the general changes in Frankfurt are affected, please consult the following link of Deutsche Börse AG:
> www.xetra.com.

Here you will find the rules and regulations governing the inofficial market in Frankfurt. According to § 12 para. 1 of the General Terms of Business of the Deutsche Börse AG relating to the unofficial market at the Frankfurt Stock Exchange, on the unofficial market (Quotation Board) shares can be withdrawn if they are listed at another recognised stock exchange location. The attached publication by the Deutsche Börse AG indicates that the m:access segment at Munich Stock Exchange is one such recognised place of trading: m:access companies therefore will continue to fulfil the requirements for inclusion in trading on the Frankfurt Stock Exchange in future.

Under the link listed above you will find a "Liste der Werte - Neusegmentierung (Stand: 29. Oktober 2012)" (List of Values- new segmentation; dated 29 October 2012) published as a csv file. U.C.A. AG is listed in line 17659. In column D "Einbeziehungsvoraussetzungen bereits erfüllt" (Conditions for inclusion already met) you will see the comment "ja" (yes). The lead brokerage institute for U.C.A. shares in Frankfurt is Baader Bank AG.

During the first half-year of 2012 U.C.A. achieved a surplus from exits (sale of the holding in MicroVenture) which is expected to total TEUR 349 (previous year TEUR 0). In addition, the company achieved revenues and other operating income amounting to TEUR 48 (previous year TEUR 48) and interest earnings - balanced with interest paid - amounting to TEUR 41 (previous year TEUR 40). These figures stand in comparison with the operative costs of TEUR 261 (previous year TEUR 312) and taxes amounting to TEUR 5 (previous year TEUR 4). This produced a preliminary result of TEUR 172 (previous year ./. TEUR 228). The U.C.A.'s free liquidity is correspondingly stable. U.C.A. and the other companies within the group, DeTeBe and WebHolding, are continually investigating opportunities for participation, preparing an exit and intensifying the M&A business regarding external firms.

During 2011, U.C.A. produced revenues and other operating income amounting to a total of TEUR 965. This sum contains an amount from the attribution of the participation in MicroVenture up to the level of the past acquisition costs. U.C.A. and its co-investors had jointly given up their shares in the company in March 2012 and sold them to the previous majority shareholder, TBF Beteiligungsgesellschaft, Düsseldorf. Interest income of TEUR 118 was achieved. These figures stand in comparison to the staff costs of ./. TEUR 282, other business expenses and depreciation of fixed assets amounting to ./.TEUR 338, financing costs amounting to ./. TEUR 101 and loan loss provisions for financial investments and marketable securities amounting to ./. TEUR 937. This resulted in a loss of ./. TEUR 575. In 2012, in addition to the targeted expansion of group stockholdings the company is assuming that there will also be 1-2 exits. As a result of an expected dividend from DeTeBe during the third quarter, Equity A will be able to continue to amortise its obligations to U.C.A. U.C.A.'s free liquidity continues unchanged at a comparatively high level.

There were no exit transactions from the U.C.A. portfolio during the first half of 2011. Correspondingly, U.C.A. achieved revenues of only TEUR 7.3, other income of TEUR 39.9 and interest income of TEUR 51.4. Compared with these figures, financing expenses of ./. TEUR 14.5 and general expenses of ./. TEUR 312.4 were incurred. This resulted in an accumulated preliminary loss of ./. TEUR 228.3. As a result of exit negotiations which are currently in progress, the board expects an improvement in the preliminary result by the end of the year. A further amortisation of the outstanding debt to the subsidiary company Equity A amounting to TEUR 300 on the outstanding amount of approx EUR 1.7 million will be effected as a result of a dividend from the sub-subsidiary company DeTeBe during the third quarter. U.C.A.'s free liquidity remains correspondingly unchanged and has stabilised at a comparatively high level.

In view of the lack of significant exit transactions before the end of the year, U.C.A. achieved other income of TEUR 83 and interest income amounting to TEUR 122. Compared with these figures, financing expenses amounting to ./. TEUR 50 and general expenses amounting to ./. TEUR 661 were incurred and led to an accumulated preliminary loss totalling ./. TEUR 506. It was possible to reduce staff costs including directors' salaries as part of the general costs by a further 20% to TEUR 291. These figures do not take into account the risk provision in the balance of bad debt charges and reversals in the stockholdings portfolio as well as the transfer to the reserves for pensions which may become necessary as a result of the annual actuarial valuation. However, the board does not expect a worsening of the preliminary result. The expected considerable loan amortisations from Web Holding resulting from the dividend of aovo and a further repayment of an outstanding debt as regards Equity A occurred during the fourth quarter of 2010 and the first quarter of 2011. U.C.A.'s free liquidity stabilised at a comparatively high level.