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BENE AG / Bene announces results for first quarter of 2009/10

Wednesday 24 June 2009

- Decline in sales by 20 % to EUR 47.6 million
- EBIT of EUR -0.8 million slightly negative
- Still high equity ratio and low net gearing
- Bond of EUR 40 million provides sufficient liquidity reserve
- Package of measures as reaction to changed environment introduced

Bene AG, listed in the prime market of the of the Vienna Stock Exchange, has not been able to escape the continuing
difficult economic environment and has recorded a decrease in sales and earnings
in the first quarter of the current business year (February 1 until April 30,

In total, in the first three months of the current business year, sales of the
Bene Group dropped by 20.2 % to EUR 47.6 million (Q1 2008/09: EUR 59.7 million).
In the home market Austria, the Bene Group´s sales decreased by 26.2 % to EUR
14.5 million (Q1 2008/09: EUR 19.7 million). In Germany, the largest European
office furniture market, the decline in sales by 10.0 % to EUR 14.3 was moderate
(Q1 2008/09: EUR 15.9 million). Despite the acquisition of several projects, due
to the still weakened investment climate, UK sales fell by 22.2 % to EUR 5.3
million (Q1 2008/09: EUR 6.8 million). In Russia, Bene improved sales by 51.0%
to EUR 5.1 million in the first quarter of 2009/10 (Q1 2008/09: EUR 3.4
million). Overall, the \"other markets\" segment recorded a 39.7 % loss in sales
to EUR 8.4 million (Q1 2008/09: EUR 14.0 million).

In line with the sales development, earnings and profitability showed clear
reductions. Compared to the previous year, the EBIT dropped by EUR 4.1 million
to EUR -0.8 million (Q1 2008/09: EUR 3.3 million). The financial result
deteriorated by EUR 0.4 million to EUR -0.5 million (Q1 2008/09: EUR -0.1
million). The EBT reached EUR -1.4 million and thus remained by EUR 4.6 million
below the previous year´s reference value.

Through the issue of an EUR 40 million corporate bond, the Bene Group has a
balanced balance sheet structure and an additional liquidity reserve for the
coming years. As of April 30, 2009, the equity ratio of 33.5 % still remains at
a high level (January 31, 2009: 46.8 %). On the same reference date, net gearing
amounted to only 17.0 % (April 30, 2008: -3.1 %).

In the first quarter of 2009/10, total investments of the Bene Group for the
finalisation and the start of operation of the research and innovation centre at
the site in Waidhofen/Ybbs as well as the ongoing modernisation of the
production facilities and the distribution sites added up to EUR 3.7 million (Q1
2008/09: EUR 4.0 million).

On the reporting date April 30, 2009, the Bene Group had 1.525 employees and
thus 68 people or 4.7 % more than on April 30, 2008.

According to the current economic forecasts, no improvement is expected for the
current business year 2009/10. In order to be able to react appropriately
quickly and comprehensively in this environment, the Management of the Bene
Group increasingly works with scenario models. From today´s point of view, no
reliable outlook for the overall year 2009/10 may be provided.

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