DGAP-News: Fiscal Year 2014/15: Gross Written Premium of GBP 145.9m - Significantly reduced average claims cost - Higher reserves result in an EBITDA loss of GBP 5.7m - Integrated Group Structure EBITDA brings profit of GBP +4.3m for first half of 2015

DGAP-News: Enterprise Holdings Limited / Key word(s): Final
Results/Half Year Results
Fiscal Year 2014/15: Gross Written Premium of GBP 145.9m -
Significantly reduced average claims cost - Higher reserves result in
an EBITDA loss of GBP 5.7m - Integrated Group Structure EBITDA brings
profit of GBP +4.3m for first half of 2015

24.11.2015 / 09:30

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Fiscal Year 2014/15: Gross Written Premium (GWP) of GBP 145.9m  
Accelerated claims cycle significantly brings down average claims cost  
Higher reserves result in an EBITDA loss of GBP 5.7m  
New integrated Group Structure is the platform for a profitable outlook
with an EBITDA profit of GBP 4.3m for the first six months of 2015

Financial figures summary
The past business year ending 31 March 2015 brought a slightly decreased
volume of premiums which changed from GBP 152.7 million in the previous
year by 4.4% to GBP 145.9 million. Due to the massive settlements of claims
the Group achieved a slightly negative technical result of GBP -0.4 million
(previous year: GBP +9.3 million). Adding the charges from the
non-technical account the Group results show an EBITDA loss of GBP -5.7
million for the financial year.

The net cash outflow from operating activities was GBP 18.5 million.
Compared to GBP 16.2 million net cash inflow in the previous fiscal year
this reflects the acceleration of the claims cycle. The quicker settlement
goes ahead with significantly less average payment per claim, which in the
future will result in higher profits. Within the niche UK motor book, which
is the largest in the Group, average claims settlement per case could be
reduced by one third. For the Group this results in significant annual cost
savings.

Outlook for fiscal year 2015/16
Andrew Flowers, CEO of Enterprise Holdings: "The increased level of claim
settlements in fiscal year 2014/15 brought a net loss but on the other hand
the reduced claims cost form the basis for significantly improved future
profits. We settle claims quicker and additionally have booked sufficient
reserves to our balance sheet. We are well prepared for the future, the
current fiscal year that has started April 2015, will be a milestone in the
companies history. A number of highly profitable distribution businesses
are brought into the Group adding significant value and ultimately
providing the potential to achieve significant economies of scale through
centralisation of some functions. With the positive changes we have shaped
a vertically integrated niche insurance Group for the future. Additionally
we started initiatives where we will see improved claims handling, tighter
underwriting controls and a platform for business growth, which will all
see a return to significant profitability for the Group in the current
financial year. The semiannual report, which will be disclosed in a few
days, will underline this expectation."

The consolidation of the new businesses significantly increased the
shareholders' funds by GBP 21.4 million. Additionally in the current fiscal
year the Group's EBITDA is expected to be between GBP 10 million and GBP 14
million based on the performance of the transferred companies. A positive
EBITDA of GBP 4.3 million has been delivered in the first half of current
fiscal year already. The revenue of the new companies is expected at around
GBP 40 million. The Group now is responsible for employing over 250 people
in various European locations.

Service
The consolidated Group annual statements as of 31 March 2015 are available
on the company's website www.enterprise-holdings.de
Disclosure of the HY2015 financial report as of 30 September 2015 is
scheduled for end of November 2015.

End of corporate news

Enterprise Holdings Ltd. 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
general insurance solutions, apart from life insurance products. The
affiliated companies deliver insurance specific auditing services as well
as administrative and marketing services. The Group focuses its activities
on high-yield niches within the European general insurance market. The main
category of the offered insurances is in the field of automobile damage and
third party insurance, legal costs insurance, household contents insurance
and guarantees. Main markets are currently the United Kingdom, France,
Greece and Italy.

Bond issue 2015/20
Since 30 March 2015 the Enterprise Holdings' corporate bond 2015/20 is
listed in the Entry Standard segment at Boerse Frankfurt (International
Security Identification Number (ISIN): DE000A1ZWPT5). In March 2015 the
bond received a BBB+ rating from Creditreform Rating AG. The issued
volume of the bond 2015/20 is approx. 20m Euro.

Bond issue 2012/17
Enterprise Holdings' corporate bond 2012/17 is listed in the Entry Standard
segment at Boerse Frankfurt (International Security Identification Number
(ISIN): DE000A1G9AQ4) since 26 September 2012. The follow-up rating from
Creditreform Rating AG in 2015, 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. During the exchange offer that ended 26 March 2015,
holders of the bond exchanged 6.3m euro into the new bond 2015/20.
Additionally in October 2015 the company redeemed Euro 9.2m bonds from an
investment fund. Therefore the total volume of the bond 2012/17 currently
is Euro 19.5m euro.

For more information about the bonds please visit our website, especially
the sections "Bond 2015/20" and "Bond 2012/17" 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.



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24.11.2015 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,
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Media archive at www.dgap-medientreff.de and www.dgap.de

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