DGAP-News: A.S. Création reports 13.5% increase in earnings in Q1 2012. AGM decides on dividend of EUR 0.75 for 2011.
(firmenpresse) - DGAP-News: A.S. Création Tapeten AG / Key word(s): AGM/EGM/Quarter
Results
A.S. Création reports 13.5% increase in earnings in Q1 2012. AGM
decides on dividend of EUR 0.75 for 2011.
03.05.2012 / 15:14
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A.S. Création Tapeten AG, Gummersbach
(ISIN DE0005079909)
A.S. Création reports 13.5% increase in earnings in Q1 2012. AGM decides on
dividend of EUR 0.75 for 2011.
A.S. Création Tapeten AG, Europe's leading wallpaper manufacturer,
presented the report for the 3-month period ended March 31, 2012 at today's
Annual General Meeting in Gummersbach. The Group's first-quarter sales
revenues were up by 3.4% on the previous year's EUR 53.3 million to EUR
55.1 million. Overall, the Managing Board was satisfied with the sales
performance.
The earnings position of A.S. Création improved markedly in the first three
months of 2012. Earnings before interest and taxes climbed 11.1% from EUR
4.7 million to EUR 5.2 million; accordingly, the EBIT margin reached 9.4%
(2011: 8.7%). The improved earnings position was attributable not only to
the increase in sales revenues but also to higher selling prices and a
moderate easing in the procurement markets. Against the background of the
dramatic rise in commodity and energy costs in 2011, A.S. Création has
raised the selling prices of some of its products with effect from March 1,
2012. Although the price increase did not fully offset the higher
procurement costs, the gross profit margin showed a positive trend and
climbed from 47.9% in Q1 2011 to 49.1% in the current fiscal year, laying
the foundation for an improved earnings position. Net profit rose at an
even higher rate than EBIT and was up by 13.5% on the previous year's EUR
2.9 million to EUR 3.3 million. Accordingly, the Managing Board was
satisfied with the result achieved.
Based on the improved earnings position, A.S. Création was able to reduce
its net financial liabilities from EUR 29.4 million on December 31, 2011 by
EUR 3.4 million to EUR 26.0 million on March 31, 2012. This helped to
improve the company's financial position, which the Managing Board
described as very robust.
In spite of all uncertainties, the Managing Board sees A.S. Création well
on track to realise the Group projections for the year 2012, which provide
for sales revenues of between EUR 195 million and EUR 205 million and a net
profit of EUR 6.0 million to EUR 7.0 million. The start-up of wallpaper
production in Russia, in which A.S. Création is making investments together
with a partner, is also proceeding to plan, which is why the Managing Board
continues to expect the new factory to take up operations in September
2012. The start-up losses incurred in conjunction with the construction and
the start-up of production and the creation of the sales organisation will
weigh on the bottom line as planned in the coming months.
The Group's key figures for the first three months of 2012 are summarised
below:
01.01.- 01.01.-The Annual General Meeting thanked all employees of A.S. Création for their
31.03. 31.03.
2012 2011 Change
Sales EUR '000 55,146 53,326 3.4 %
Earnings before interest and taxes (EBIT) EUR '000 5,174 4,658 11.1 %
Earnings before income taxes EUR '000 4,778 4,257 12.2 %
Net profit EUR '000 3,289 2,897 13.5 %
Earnings per share EUR/share 1.19 1.05 13.3 %
Cash-flow EUR '000 5,504 5,132 7.2 %
Capital expenditures EUR '000 2,103 2,291 -8.2 %
Depreciation EUR '000 2,405 2,559 -6.0 %
Number of employees (average) 808 781 3.5 %
commitment. Discharge of the acts of the Managing Board and the Supervisory
Board was granted almost unanimously. In addition, it was decided to pay
out a dividend of EUR 0.75 per share from the profit for the year 2011. At
over 44%, the payout ratio is at the high level that is typical of A.S.
Création. The company has distributed a dividend every year since the 1998
IPO.
Gummersbach, May 3, 2012
A.S. Création Tapeten AG
The Managing Board
Inquiries:
Maik Krämer, CFO, phone +49-(0)22 61/542-387, fax +49-(0)22 61/542-304,
e-mail m.kraemer(at)as-creation.de
The full 3-month report is available at
www.as-creation.de or
or from:
A.S. Création Tapeten AG, Frau Börngen, Südstr. 47, D - 51645 Gummersbach,
phone +49-(0)22 61/542-350,
e-mail investor(at)as-creation.de
Contact:
Maik Krämer
Vorstand Finanzen
Südstr. 47
D-51645 Gummersbach
Telefon + 49 - (0)22 61/542-387
Fax + 49 - (0)22 61/542-304
E-Mail: m.kraemer(at)as-creation.de
End of Corporate News
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Language: English
Company: A.S. Création Tapeten AG
Südstraße 47
51645 Gummersbach
Germany
Phone: +49 22 61 54 2-0
Fax: +49 22 61 54 2-3 04
E-mail: investor(at)as-creation.de
Internet: http://www.as-creation.de
ISIN: DE0005079909
WKN: 507990
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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