Investment write-downs lead to loss being shown on single-entity financial statements

No dividends for the 2010 financial year / Target IFRS consolidated EBITDA securely achieved / New management sets course for future growth

Frankfurt am Main, (PresseBox) - Heliad Equity Partners GmbH & Co. KGaA ("Heliad") is publishing initial key preliminary data for business developments in 2010. In line with forecasts, Heliad's separateentity financial statements show a loss of EUR -10.6 million, with an IFRS consolidated EBITDA of between EUR 5 and 10 million. Thus, Heliad will not be paying dividends for the financial year gone by. A major reason for this unsatisfactory development, also reflected in the figures for EBIT, consolidated net income and net asset value, are the adjustments to the carrying amounts of investments made at two portfolio companies, which had shown deterioration in 2010 and hence required restructurings. Appropriate measures have already been introduced to improve the situation at the companies in question.

Following an in-depth analysis by the new management team, the reasons for the unsatisfactory development in 2010 and the years before have been identified, and a key strategic and structural change of course has been set, so as to raise the company's potential. Thus, in 2011, the development of existing companies will be front and centre. In addition, selective add-on acquisitions of additional investments will be encouraged, to press ahead even further with the focus on majority shareholdings in mediumsized companies in market niches.

As part of the adjustment to net earnings, Net Asset Value ("NAV") was retroactively reduced to EUR 5.62 per share. Going forward, this will be reported on a quarterly basis, since in the future regular valuations of unlisted investments are to be made not just annually but also quarterly, in order to guarantee realtime reporting.

With its new CEO, Bernd Sexauer (48), Heliad's management has now been taken over by an industry expert who has held responsible positions at established and successful investment companies. Mr. Sexauer will be supported by an experienced, interdisciplinary team, which has been strengthened by the addition of even more professionals with work experience at wellknown firms. At Heliad, consequently, the areas of acquisitions and in-vestment management will now continue to be expanded and optimised. A basis for this has already been put in place and introduced at the companies. The measures taken can already be seen to be having an effect.

Bernd Sexauer, CEO of Heliad: "We have made the necessary course corrections to move Heliad in the direction of sustainable growth. Our very good level of liquidity (ca. EUR 31.5 million at the Group level), the new team and our even more proactive acquisition strategy enable us to take our place among the major players in further market developments, thereby creating rising values for our shareholders in the future."

The audited figures for the year and the annual report will be published on 31 March 2011.

Heliad Equity Partners GmbH & Co. KGaA

Heliad is a corporate group which invests in growth companies in the areas Germany, Austria and Switzerland, providing active management support in their development. The companies of the Group typically generate more than EUR 10 million in annual sales and are generally majority-owned by Heliad. Additional information on the company can be found at www.heliad.com.

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