DGAP-News: Joyou AG continues growth in Q1 2012
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Quarter Results
Joyou AG continues growth in Q1 2012
15.05.2012 / 08:00
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- Group Revenues increased by 13.4% to EUR 72.4 million
- EBIT increased by 7.6% to EUR 12.9 million
- Positive outlook confirmed
Frankfurt am Main, 15 May 2012. Joyou AG, a leading bathroom solution
supplier in China, continued its strong growth in the first quarter of 2012.
Compared to the first quarter of 2011, group revenues increased by 13.4% to
EUR 72.4 million (5% growth in RMB terms). However, due to an increase in
marketing activities, operating income (EBIT) grew more slowly by 7.6% to
EUR 12.9 million. This represents an EBIT margin of 16.9%. The core Joyou
branded market of China saw particularly strong growth in excess of 26.2% to
EUR 64.1 million (16.8% growth in RMB terms).
Joyou's growth continued to exceed the growth in the overall market for
sanitary ware products. The increase of revenues resulted from a significant
sales increase in Ceramics and Bathtubs, Kitchen Products, and Shower
Products.
In 2012, the company is focusing on investments in the area of research and
design. This strengthens both, Joyou's product portfolio and its position as
one of the market leaders in the sanitary products sector. In March 2012,
the Joyou brand was launched internationally in the UK. 'This represented a
major milestone in our internationalisation strategy. We are planning to
enter further markets in Europe, North America and the Middle East in due
course. We are pleased about the strong support provided by our strategic
partner GROHE, and their efforts to promote international expansion of the
Joyou brand,' states Jianshe Cai, CEO of Joyou AG.
Based on these positive results, the management confirms its positive
outlook forecast stretching into the 2012, and expects its growth to
continue to outpace that of the market, and the economy as a whole, with
improved operating profit.
The full Q1 Report 2012 of Joyou AG is available on the website at
www.joyou.com.
Note: During the periods under review there was a 7.4% currency depreciation
of the Euro to RMB from the three months period average of 9.0059 as at 31
March 2011 to 8.3352 as at 31 March 2012.
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products 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, 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 3,957 retail points of sales as
of 31 March 2012.
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
2011, Joyou realised group revenues of EUR 287.1 million, an operating
profit (EBIT) of EUR 45.3 million and a net profit of EUR 38.5 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 materialise 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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15.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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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169808 15.05.2012
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