DGAP-News: Joyou AG: Joyou opens first Grohe store in China
(firmenpresse) - Joyou AG / Alliance
20.04.2010 09:00
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Hamburg, 20 April 2010. Joyou AG, a leading manufacturer for faucets and a
specialist for other sanitary ware products in China, opened the first
Grohe store in Beijing. In connection with the distribution agreement
between Joyou and Grohe, the store exclusively offers certain Grohe branded
products on an area of 46 sqm in the prestigious mall in Macolline which
has a total of 100,000 sqm floor space.
The store in Beijing is the first of 10 to be opened by the end of this
month. It will carry 15 Grohe product ranges. Each range has about 8
products, including both the Asian and European product ranges. The next
stores to be opened are located in Tai'yuan, Zheng'zhou, Ning'bo, He'fei,
Xi'an, Hang'zhou, Fu'zhou, Quan'zhou, Shan'tou and in Jin'zhou. They will
be on average 83.3 sqm in size, with the largest in Ning'bo being 213 sqm.
In October 2009, Joyou entered into a distribution agreement with Grohe
under which Joyou agreed to act as a exclusive distributor for certain
Grohe branded products on the Chinese market. For such purposes, Joyou
intends to open approximately 500 points of sale in 2010. The company also
intends to use to a limited extent its existing distribution networks to
market Grohe and Joyou branded products jointly in certain larger points of
sale.
The shares of Joyou AG started trading successfully on the Prime Standard
of the Frankfurt stock exchange on March 30, 2010.
Strong sales and profit growth rates
Joyou's total revenues increased from EUR 44.9 million in 2007 to EUR 135.0
million in 2008 and to EUR 172.3 million in 2009, corresponding to a
compound annual growth rate of 96% over this period. The operating profit
(EBIT) of Joyou increased by a compound annual growth rate of 97%: from EUR
10.0 million in 2007 to EUR 25.0 million in 2008 and to EUR 39.0 million in
2009. Correspondingly, net profits of the company increased by a compound
annual growth rate of 69%: from EUR 7.8 million in 2007 to EUR 16.1 million
in 2008 and to EUR 22.3 million in 2009. Joyou had an average number of
2,529 employees in 2009.
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. Joyou is one of the leading single-brand
manufacturers of bathroom, kitchen and other faucets in China in terms of
revenues (according to BSRIA). Joyou has established an extensive
distribution network in China with 2,527 retail points of sales as of 31
December 2009.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's five main product groups sold in its own brand
business are bathroom faucets, kitchen products, shower products as well as
other bathroom products and other faucets and sanitary hardware. In 2009,
Joyou realised group revenues of EUR 172.3 million, an operating profit
(EBIT) of EUR 39.0 million and a net profit of EUR 22.3 million employing
on average 2,529 persons.
Disclaimer
This publication constitutes neither an offer tosell nor a solicitation to
buy securities of Joyou AG. The shares have already been sold.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of Joyou
AG (the 'Shares') have not been registered under the U.S. Securities Act of
1933, as amended (the 'Securities Act') and may not be offered or sold in
the United States unless registered under the Securities Act or pursuant to
an exemption from such registration. There will be no public offering of
the Shares in the United States and the Shares will not be registered under
the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
This document has been delivered to you on the basis that you are a person
into whose possession this document may be lawfully delivered in accordance
with the laws of the jurisdiction in which you are located and you may not
deliver this document to any other person and you agree not to copy or
retransmit this document or its contents. In particular, this document may
not be forwarded or retransmitted to any person located in the United
States, Canada, the People's Republic of China or Japan.
The information in this document is subject to change and does not purport
to be a complete description of new shares or the offer. The syndicate
banks accept no liability whatsoever for any direct or consequential loss
arising from the use of this document. To the maximum extent permitted by
law, the syndicate banks and their respective directors, officers and
employees shall have no liability whatsoever for any loss or liability of
any kind arising in respect of the information contained, or not being
contained, in this document. The syndicate banks and their respective
directors, officers and employees may, from time to time, have long or
short positions in, buy or sell (on a principal basis or otherwise), and
may act as market makers in, the securities or derivatives, or serve as a
director of any companies mentioned herein. In addition, the syndicate
banks may be serving or have served as a corporate adviser and/or manager
of a public offering of securities by any such company. The syndicate banks
will receive fees for acting in that capacity.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden(at)kirchhoff.de
Janina Wismar, tel.: +49 40 60 91 86 50, janina.wismar(at)kirchhoff.de
or visit the company website at: http://www.joyou.com
20.04.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Joyou AG
Chilehaus A, Fischertwiete 2
20095 Hamburg
Deutschland
Phone:
Fax:
E-mail: ian.oades(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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Datum: 20.04.2010 - 09:00 Uhr
Sprache: Deutsch
News-ID 19295
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Kategorie:
Business News
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