Enterprise Holdings Limited
Enterprise Holdings Limited: Semi-annual financial figures show strong net profit and stable gross written premium
DGAP-News: Enterprise Holdings Limited / Key word(s): Half Year Results 24.11.2014 / 14:14 --------------------------------------------------------------------- Enterprise Holdings Limited: Semi-annual financial figures show strong net profit and stable gross written premium Stable Gross Written Premiums (GWP) The interim financial figures for the 6 months period from 1 April until 30 September 2014 show 73.5m GBP in gross written premium (GWP) compared to 74.4m GBP for the 6 months period that ended 30 September 2013. This is in line with the guidance provided beginning of October. Strong net profit On an operational basis the Group achieved a positive technical result of 9.0m GBP (previous year: 6.3m GBP), which resulted in an earnings before interest, tax and amortization (EBITDA) figure of 6.1m GBP (previous year: minus 0.5m GBP). Net profit for the first half of fiscal year 2014/15 is 3.2m GBP compared to a loss of 2.1m GBP in the corresponding period of previous year. Outlook for fiscal year 2014/15 Andrew Flowers, CEO of Enterprise Holdings: "In the current fiscal year we will be very focused on increasing profitability and continuing to produce strong positive cashflows while keeping the GWP at the existing level. Beginning of calendar year 2014 we have started to set up a claims handling unit to significantly increase efficiency in the workflow, saving cost and to reduce the loss ratio. Some of this positive impacts are already reflected in the semiannual results, however, the majority of the positive effects on our profitability will become much more visible in the second half of our fiscal year. Together with our new Group Finance Director, Michael Clayden, we are convinced to generate strong future profits and cashflows to service the bond." Update on Special Account According to the terms and conditions of the bond, the issuer monthly deposits a certain amount in a specially designated bank account to secure the payments for the interests and the principal amount to the bond holders. Since the bond issue Enterprise Holdings has deposited 10.5m euro in the special account. The second interest payment of 2.45m euro for the 7% bond has been paid to the bondholders on 26 September 2014. As of today the credit balance in the special account is 5.6m euro. The special account development is published regularly on the company's website www.enterprise-holdings.de -> bond -> factsheet. 6 months interim report The consolidated semi-annual report for the six months from 1 April 2014 to 30 September 2014, reviewed by the international audit company Ernst & Young, is now available for download on the company's website www.enterprise-holdings.de in the section Services -> Financial Reports Upcoming Event Andrew John Flowers, CEO and Founder of Enterprise Holdings Ltd., will hold a presentation at the Deutsche Eigenkapitalforum Conference in Frankfurt on 25 November 2014 at 06.30pm in room "Berlin". The conference is Europe's largest and most important capital market event for corporate financing. From 24 to 26 November 2014 this platform for information and networking acts as a meeting point for the entire community - comprising of entrepreneurs, investors and analysts as well as the financial services sector. 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 issue 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 2014, as well as in 2013, confirmed the A- rating that has been achieved in August 2012 when Enterprise Holdings issued a 35m euro bond. For more information about the bond please visit our website, especially the section "Bond" at www.enterprise-holdings.de 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. --------------------------------------------------------------------- 24.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 298907 24.11.2014
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