DGAP-News: Joyou AG opens almost 100 stores in Q2 2011 and deepens cooperation with Grohe
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Miscellaneous
Joyou AG opens almost 100 stores in Q2 2011 and deepens cooperation
with Grohe
09.08.2011 / 09:34
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- 177 new Joyou stores in H1 2011
- 291 new Grohe stores with Grohe Asian Product Line in H1 2011
- Shareholding vehicle Grohe Asia AG renamed to Joyou Grohe Holding AG
Frankfurt am Main, 9 August 2011. Joyou AG, a leading bathroom solution
provider in China, opened another 96 new Joyou branded stores in the second
quarter of 2011. This is compared to Q2 2010 when 419 Joyou branded stores
were opened. As a result, Joyou opened 177 retail outlets in H1 2011. The
store openings are in line with Joyou's 2011 strategy to open approx. 300
stores by year end, with sales growth coming mainly from increases from
sales per store.
As of 30 June 2011, the company had a network of 3,773 Joyou branded sales
outlets throughout China.
76% of the new stores in Q2 2011 were opened in small and medium-sized
Chinese cities (tier 3 and tier 4). This is in line with the company's
strategy of focusing its growth on smaller and medium-sized locations and
strengthening the brand. Joyou intends to further increase its number of
stores to 4,500 by 2013.
Further, the cooperation between Grohe and Joyou has progressed. In the
first half of 2011 Grohe has equipped their existing 144 stores to sell the
Asian Product Line for which Joyou is the master distributor. With the
support of Joyou, the integrated team has opened an additional 147 stores
in Q2 2011, meaning that in the first half of 2011 a total of 291 stores
were opened carrying the Asian Product Line.
Grohe Asia AG, the non-operating subsidiary of Grohe Holding GmbH, has
changed its name to Joyou Grohe Holding AG subsequent to the share transfer
from Jianshe CAI and Jilin CAI. The new name reflects the shared
participation of 49.9% held by Jianshe CAI and Jilin CAI and 50.1% held by
Grohe Holding GmbH.
The share holdings in Joyou AG at the time was as follows:
- The share holding vehicle Joyou Grohe Holding AG owns 57.2%
- Grohe Holding GmbH directly 6.1%
- CAI family directly 8.8%
- Free Float of 27.9%.
Joyou AG will publish the H1 2011 report on 24 August 2011.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading
provider of bathroom solutions in China under its brand name 'Joyou' and is
also engaged as a OEM/ODM-manufacturer for international brands and trading
companies in the United States and Europe as well as other emerging
markets. In 2010 Joyou was one of the leading single-brand manufacturers of
bathroom, kitchen and other faucets in China in terms of revenues
(according to BSRIA's China Bathroom Study 2011). Joyou has established an
extensive distribution network in China with 3,596 retail points of sales
as of 31 December 2010.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's nine main product groups sold in its own brand
business are Bathroom Faucets, Kitchen Products, Shower Products, Ceramics
and Bathtubs, Bathroom Cabinets, Bathroom Accessories, Other Faucets and
Sanitary Hardware, Copper and Semi-Finished Components, Grohe Business. In
2010, Joyou realised group revenues of EUR 246.6 million, an operating
profit (EBIT) of EUR 43.7 million and a net profit of EUR 33.2 million.
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1,
60327 Frankfurt am Main
Ian M Oades, Tel.: +49 69 710 456 346 or +86 595-8618 8883, ir(at)joyou.net
Kirchhoff Consult AG
Jens Hecht, Tel.: +49 40 60 91 86 0, jens.hecht(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
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09.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Germany
E-mail: ir(at)joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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134890 09.08.2011
Datum: 09.08.2011 - 09:34 Uhr
Sprache: Deutsch
News-ID 43699
Anzahl Zeichen: 0
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Kategorie:
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