Enterprise Holdings Limited
Enterprise Holdings Limited: Good start in 2013/14: very positive four months figures 50% growth expected combined with high profit and strong cash flows
DGAP-News: Enterprise Holdings Limited / Key word(s): Monthly Figures/Bond 04.12.2013 / 13:30 --------------------------------------------------------------------- Andrew John Flowers, CEO and Founder of Enterprise Holdings Ltd., recently held a presentation at the Deutsche Eigenkapitalforum Conference in Frankfurt, which is Europe's largest and most important capital market event for corporate financing. Enterprise Holdings' corporate bond is listed in the Entry Standard segment at Boerse Frankfurt (International Security Identification Number (ISIN): DE000A1G9AQ4). The follow-up rating in 2013 confirmed the A- rating that has been achieved in August 2012 when Enterprise Holdings issued a 35m euro bond. Four months figures: strong growth - high profitability Beside overall company and market information the CEO disclosed non-audited interim figures for the 4 months period from 1 April until 31 July 2013 that show 51.0m GBP in gross written premium (GWP) and 4.5m GBP in earnings before tax (PBT), compared to 56.7m GBP and (1.7)m GBP loss for the 6 months period that ended 30 September 2012. Positive outlook for current fiscal year Andrew Flowers, CEO of Enterprise Holdings Ltd: 'We see a very strong organic growth in the existing insurance schemes and therefore for the current fiscal year we forecast a 50% increase in gross written premium to approximately 200m GBP. In the fiscal year 2012/13 that ended 31 March 2013 we achieved 134.8m GBP. Currently a team of specialists is reviewing approximately 8,000 UK motor insurance accounts in our books to calculate the individual reserves. The final result is expected in a few months and should be reflected in the annual report as of 31 March 2014. It seems that we can release a substantial amount of the existing reserves. This will have direct impact on our financial results. Finally there is a good chance that 2013/14 will become the most profitable year in the company's history.' The complete investor presentation is available on the company's website for download. Please visit www.enterprise-holdings.de -> Services -> Downloads. Sphene Capital credit research report: One of the best rated SME bonds The credit research report titled with 'Enterprise Holdings: One of the best rated Mittelstands bonds in Germany' provides an independent analysis of the niche insurere's business model. The credit analyst agency forecasts a 28.4% compound annual growth rate (CAGR) until the maturity of the bond in 2017 accompanied by a strongly increasing profit stream. The credit research report is available on the company's website for download. Please visit: www.enterprise-holdings.de -> Bond -> Documents. A limited number of printed versions are available on request. Special Account According to the terms and conditions of the bond, the issuer shall deposit an amount equal to 50% of the issuer's estimated monthly net distributable profits in a specially designated bank account until the monies deposited in such account reach a level equivalent to the aggregate of the principal amount of the Bond and any interest due during the term. Based on the estimated October results in November the company transferred another 400,000 euro to the special account. As of today the total amount deposited in this separate bank account is 5,550,000 euro. Less 2,450,000 euro for first years' interest payment on 26 September 2013 the current net cash balance is 3,100,000 euro. The special account development is published regularly on the company's website www.enterprise-holdings.de -> bond -> factsheet. Semiannual Report The consolidated semiannual Group Financial Statements as of 30 September 2013 are scheduled to be disclosed mid December 2013. They will be also available for download on the company's website www.enterprise-holdings.de End of press release Enterprise Holdings Group - an owner-lead insurance firm Lead by its founder the company holds several other subsidiaries together with affiliated service companies. The group offers independent white label solutions, apart from life insurance products. The affiliated companies deliver insurance specific auditing services as well as control and marketing services. The group focuses its activities on high-yield niches within the European insurance market. The main category of the offered insurances is in the field of automobile third party insurance, legal costs insurance, household contents insurance and guarantees. Main markets are currently Great Britain, France and Greece. Bond Investor Relations / Press Please direct all your requests to: max. Equity Marketing GmbH Maximilian Fischer Marienplatz 2 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: ir@enterprise-holdings.de IMPORTANT NOTE - Disclaimer Prospective investors of the Securities should recognise that the Securities constitute a risk investment, which can lead to a total loss of their investment in the Securities. Potential investors must therefore be prepared and able to sustain a partial or even a total loss of the invested capital. Any investors interested in purchasing the Securities should assess their financial situation, to ensure that they are in a position to bear the risks of loss connected with the Securities. Therefore, please contact your credit and securities institutions. The admissibility of the acquisition of a security may at various conditions, especially your nationality be bound. Please inform yourself before an investment. This information does not constitute an offer to sell or a solicitation of an offer to purchase any securities of Enterprise Holdings Limited ('issuer'). A decision on an investment in the securities of the issuer may only be made on the basis of the securities prospectus ('prospectus') which is approved by the Federal Financial Supervisory Authority (BaFin) and is published on the website www.enterprise-holdings.de. Only the information contained in the prospectus is binding in connection with the offer. This information may not be disseminated outside of Germany and Austria, in particular not in the United States, to US Persons according to regulation S of the US Securities Act of 1933 or to publications with a general circulation in the United States. Any person who fails to comply with these restrictions may violate the security laws of certain jurisdictions, in particular of the United States. Bonds in Enterprise Holdings Limited are not publicly offered outside of Germany and Austria. The Notes will not be registered under the Securities Act of 1933, or any applicable state or foreign securities laws, and are subject to substantial restrictions on transfer. In particular, the Notes may not be offered or sold in the U.S., or to or for the benefit of U.S. persons, absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. The securities mentioned in this press release are not being and will not be offered for sale to the public in the United States, Australia, Canada and Japan. End of Corporate News --------------------------------------------------------------------- 04.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 243089 04.12.2013
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