Corporate | 30 April 2008 14:43
A.S. Création Tapeten AG / AGM/EGM/Quarter Results
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A.S. Création Tapeten AG, Gummersbach
(ISIN DE0005079909)
A.S. Création starts fiscal 2008 with 30% increase in earnings. Annual
General Meeting decides to pay out dividend of EUR 1.60 per share.
At today’s Annual General Meeting in Gummersbach, A.S. Création Tapeten AG,
Europe‘s leading wallpaper manufacturer, presented the interim report for
the period ended March 31, 2008. At EUR 49.4 million, the Group’s
first-quarter sales were up 10.9% on the previous year’s EUR 44.5 million.
Both the Wallpaper Division and the Furnishing Fabrics Division contributed
to this increase in sales. The business situation in Germany was positive,
with domestic sales rising by 4.0%. However, foreign markets were again the
most important growth drivers.
The earnings position of A.S. Création improved moderately in the first
quarter. This is attributable to both better internal cost ratios and
higher sales prices, which partly offset the increased raw material and
energy prices. This and the higher sales enabled A.S. Création to boost
earnings before taxes by 15.8% from EUR 4.2 million in Q1 2007 to EUR 4.9
million in the current fiscal year. This represents a return on sales of
9.9% (previous year: 9.5%). As a result of the lower income tax rates that
came into force in Germany on January 1, 2008, the company’s tax load has
been reduced significantly. Accordingly, net profit increased at a much
higher rate than earnings before taxes. At EUR 3.4 million, net profit for
the first three months of 2008 was up 29.9% on the previous year’s EUR 2.6
million.
A.S. Création will continue its comprehensive capital expenditure programme
in 2008. In the first three months of 2008, capital expenditure amounted to
EUR 3.7 million (previous year: EUR 2.2 million). This is attributable to a
new printing machine, which is currently being installed and is scheduled
to be taken into service towards the end of the second quarter of 2008. The
company’s growth strategy is also reflected in the number of employees. At
684, the average headcount in the first quarter of 2008 was up by 25 on the
same period of the previous year.
Against the background of the successful first quarter, the Managing Board
has confirmed its guidance for the full year 2008, which provides for sales
of approx. EUR 185 million and a net profit of between EUR 10.5 and 11.0
million.
First-quarter Group figures at a glance:
01.01. 01.01.
- 31.03. - 31.03.
2008 2007 Change
------------------------------------------------ -------- -------- -------
Sales € ’000 49,390 44,536 10.9 %
Earnings before interest and taxes (EBIT) € ’000 5,152 4,448 15.8 %
Earnings before income taxes € ’000 4,889 4,221 15.8 %
Net profit € ’000 3,355 2,582 29.9 %
Earnings per share €/share 1.21 0.93 30.1 %
Cash-flow € ’000 5,469 4,748 15.2 %
Capital expenditure € ’000 3,743 2,242 66.9 %
Depreciation € ’000 1,989 2,121 -6.2 %
Number of employees (average) 684 659 3.8 %
The Annual General Meeting thanked all employees of A.S. Création for their
commitment, which allowed the company to achieve such excellent results.
Discharge of the acts of the Managing Board and the Supervisory Board was
granted unanimously. In addition, it was decided to pay out a dividend of
EUR 1.60 per share from the profit for the year 2007.
Gummersbach, April 30, 2008
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 interim 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
30.04.2008 Financial News transmitted by DGAP
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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
Internet: http://www.as-creation.de
ISIN: DE0005079909
WKN: 507990
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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