Heliad Equity Partners GmbH & Co. KGaA announced consolidated earnings results for the financial year 2011. The company generated consolidated sales (IFRS) of EUR 41.7 million from continuing operations in 2011 compared to EUR 51.4 million a year ago. At EUR 4.6 million, operating earnings (EBITDA) were positive compared to EUR 7.1 million a year ago. Net result for period significantly improved to EUR 4.3 million compared to negative net result of EUR 24.8 million a year ago. In the previous year, discontinued operations had negatively affected net income while the effect was positive this year. Net loss from continuing operations was EUR 9.8 million compared to net income of EUR 9.7 million a year ago. This was negatively affected in particular by devaluation of listed investments to account for the negative performance on the capital markets in the second half of 2011. The company's management believes that Heliad is well positioned to generate positive consolidated net income in the year 2012 and to secure the company's successful long-term development by making new investments.