Corporate | 3 May 2007 15:16
A.S. Création Tapeten AG / AGM/EGM/Quarter Results
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
----------------------------------------------------------------------
A.S. Création Tapeten AG, Gummersbach/Germany
(ISIN DE0005079909)
A.S. Création starts fiscal year 2007 with a 21% rise in earnings.
Shareholders’ Meeting approves record dividend of EUR 1.65 per share.
At today’s Shareholders’ Meeting in Gummersbach, A.S. Création Tapeten AG,
Europe’s leading wallpaper manufacturer, presented the interim report for
the three-month period ended March 31, 2007. At EUR 44.5 million,
consolidated sales for the first quarter were up 10.2% on the previous
year’s EUR 40.4 million. Both the Wallpaper Division and the Furnishing
Fabrics Division contributed to this rise in sales, which was driven by
growth in foreign markets, whereas domestic sales merely matched the
previous year’s level. Accordingly, foreign sales account for an increased
percentage of total sales. While 55.9% of the company’s total sales was
generated abroad in the first quarter of 2006, this figure has climbed to
60.1% in the current fiscal year.
According to the Managing Board, the customers of A.S. Création appreciate
the company’s increased investments in innovative wallpaper collections.
Apart from the higher sales, this view is also supported by the development
of the gross profit margin. Although commodity and energy prices increased
over the previous year, the gross profit margin stabilised in the first
three months of 2007. Accordingly, the earnings position of A.S. Création
has improved as well. Earnings before income taxes climbed 20.9% from the
previous year’s EUR 3.5 million to EUR 4.2 million, which represents a
pre-tax profit margin of 9.5% (previous year: 8.6%).
Due to the planned expansion of A.S. Création’s own production capacities,
the company’s capex volume increased sharply in the first three months of
the fiscal year. At EUR 2.2 million, capital expenditure was twice as high
as in the previous year (EUR 1.1 million). The increase in the workforce
from 628 in Q1 2006 to 639 in the current fiscal year is also attributable
to A.S. Création’s growth strategy.
According to the Managing Board, both the Wallpaper Division and the
Furnishing Fabrics Division will benefit from the investments before the
end of the fiscal year. Against the background of the very good first
quarter, the Managing Board is optimistic about the further course of the
year 2007 and confirmed the full-year projections, according to which Group
sales and net profit will reach approx. EUR 160 million and between EUR 8.7
and 9.2 million, respectively.
The Group’s key figures for the first quarter of 2007 at a glance:
01.01. 01.01.
-31.03. -31.03.
2007 2006 Change
------------------------------------------------- ------ ------- ------
Sales EUR '000 44,536 40,411 10.2%
Earnings before interest and taxes (EBIT)EUR '000 4,448 3,778 17.7%
Earnings before income taxes EUR '000 4,221 3,491 20.9%
Net profit EUR '000 2,582 2,173 18.8%
Earnings per share EUR/share 0.93 0.78 19.2%
Cash-flow EUR '000 4,748 4,256 11.6%
Capital expenditures EUR '000 2,242 1,061 111.3%
Depreciation EUR '000 2,121 2,047 3.6%
Number of employees (average) 639 628 1.8%
The Shareholders’ Meeting thanked all employees of A.S. Création for their
strong commitment and contribution to the company’s good results. Discharge
to the Managing Board and the Supervisory Board was granted unanimously. In
addition, it was decided to pay out a dividend of EUR 1.65 per share
(previous year: EUR 1.25) from the profit for the year 2006. This is the
highest dividend in the history of A.S. Création.
Gummersbach, May 3, 2007
A.S. Création Tapeten AG
The Managing Board
Inquiries:
Maik Krämer, Director of Finance, phone +49-(0)22 61/542-387, fax +49-(0)22
61/542-304,
e-mail: m.kraemer@as-creation.de
The full annual report is available at:
www.as-creation.de
or from:
A.S. Création Tapeten AG, Mrs. Börngen, Südstr. 47, D - 51645 Gummersbach,
phone +49-(0)22 61/542-350,
e-mail: investor@as-creation.de
DGAP 03.05.2007
----------------------------------------------------------------------
Language: English
Issuer: A.S. Création Tapeten AG
Südstraße 47
51645 Gummersbach Deutschland
Phone: +49 (0)22 615 42-0
Fax: +49 (0)22 6154 2-3 04
E-mail: investor@as-creation.de
www: investor@as-creation.de
ISIN: DE0005079909
WKN: 507990
Indices:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------------