DGAP-News: Joyou AG: Profitable growth in the first nine months 2012
(firmenpresse) - DGAP-News: Joyou AG / Key word(s): Preliminary Results
Joyou AG: Profitable growth in the first nine months 2012
12.11.2012 / 08:12
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Preliminary results 9M 2012
Joyou AG: Profitable growth in the first nine months 2012
* Revenues increased by 15.7% to EUR 246.1 million
* Gross Profit increased to EUR 68.2 million, gross margin of 27.7%
* EBIT grew by 18.3% to EUR 37.0 million, bringing EBIT margin to 15.0%
Frankfurt am Main, 12 November 2012. Joyou AG, a leading bathroom solution
supplier in China, achieved improved financial results in the first nine
months of 2012. In comparison to the same period in 2011, the revenues grew
by 15.7% to EUR 246.1 million. This increase resulted from a significant
sales increase in Ceramics and Bathtubs, Bathroom Cabinets, Kitchen
Products, the company's core business segments. Measured in RMB, revenues
increased by 2.9% during the reporting period.
Due to increased ASPs (Average Selling Prices), the gross margin reached
27.7% while the gross profit grew to EUR 68.2 million. EBIT experienced an
increase of 18.3% to EUR 37.0 million, representing an improved EBIT margin
of 15.0% after 14.7% in the comparable period of the previous year.
Joyou will remain to focus on research and design to develop new products,
features and technologies to extend its marketing edge. Also, the expansion
of project business in new markets in China and abroad represent a future
perspective. The company expects the market situation in the current year
will remain challenging; nevertheless Joyou gives a positive outlook for
2012 and expects its growth to continuously outpace that of the market with
improved operating profit. Joyou anticipates to meet its target of 200
retail store openings by the end of 2012.
The full 9M 2012 Report of Joyou AG will be published on 15 November 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 4,033 retail
points of sales as of 30 June 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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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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192618 12.11.2012
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