MIFA: Corporate bond uplisted to Frankfurt Stock Exchange's Entry Standard

Sangerhausen, (PresseBox) - From today, the corporate bond of Germany's largest manufacturer of bicycles in terms of sales, MIFA Mitteldeutsche Fahrradwerke AG (ISIN: DE000A1X25B5; WKN: A1X25B), is to be traded in the Entry Standard for bonds on the Frankfurt Stock Exchange. Purchases of the bond are to occur in accordance with the general business terms for the Regulated Unofficial Market on the Frankfurt Stock Exchange. Potential buyers of the bonds can submit purchase orders through any bank that is admitted to trading on the Frankfurt Stock Exchange. MIFA will issue no new bonds in this context, however.

Based on a resolution by MIFA's Management and Supervisory boards on 2 August 2013, and following approval of the listing prospectus by the German Federal Financial Supervisory Authority (BaFin) on Monday, the bonds were uplisted as planned to the Entry Standard, having been included in the Open Market of Deutsche Börse AG (OTC/Regulated Unofficial Market of the Frankfurt Stock Exchange) since 5 August 2013. The listing prospectus can be viewed on the websites of Deutsche Börse AG and MIFA (in its Investor Relations area). The corporate bond comprises a volume of EUR 25 million and is denominated in bonds of EUR 1,000 each. equinet Bank AG as sole lead manager and sole bookrunner placed the bond exclusively among institutional investors as part of a private placement in early August, with the books being significantly oversubscribed. The bond carries a five-year maturity with a first maturity date on 12 August 2018, and the interest coupon is 7.50 %. Feri EuroRating Services AG awarded the security a BBB- rating (investment grade).

MIFA CEO Peter Wicht regards the uplisting of the MIFA corporate bond as a logical step: "Inclusion of our corporate bond in the Entry Standard should underscore the high transparency claims that we make of our company. All bondholders will be informed continuously and immediately about all relevant developments in our company. We are thereby continuing on the path on which we started in summer 2012 when our share was uplisted to the Prime Standard."

MIFA-Bike Gesellschaft mbH

MIFA Mitteldeutsche Fahrradwerke AG, headquartered in Sangerhausen (Saxony-Anhalt), is Germany's largest manufacturer of bicycles in terms of sales. The company offers a comprehensive range of bicycle models spanning entry price through to premium end. The components included in bicycle production are sourced from renowned suppliers and assembled at the company's sole production site in Sangerhausen, Germany. Business in this context focuses on product-related order production for major retail chains and OEM (Original Equipment Manufacturer) customers. Ebikes have also been manufactured since 2011. MIFA produces e-bikes for automotive manufacturer Smart, manufactures for the Deutsche Post bicycle fleet, and supplies communal lending systems with multi-user vehicles, among other customers. In 2012, MIFA acquired Berlinbased e-bike manufacturer Grace and Bavaria-based cult bicycle forging company Steppenwolf, thereby intensifying its sales activities via specialist dealers. MIFA sells its bicycles predominately on its domestic German market. Further sales markets are located mainly in Western Europe. Both the operating business and administration and logistics are managed at the company's sole production location in Sangerhausen.

MIFA sold around 546,000 bicycles in 2012 (previous year: around 644,000). The company generated EUR 111.3 million of sales revenue, up 10.7 % compared with the previous year (EUR 100.5 million). E-bikes represented 30.0 % of total revenue (previous year: 12.5 %). On this revenue base, the company achieved operating profit (EBIT) adjusted for acquisition effects of EUR 2.9 million (previous year: EUR 4.6 million), and correspondingly adjusted net income stood at EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been a listed company since May 2004. Its shares are traded in the Prime Standard of the Regulated Market of the Frankfurt Stock Exchange.

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