DGAP-News: FAST Casualwear continues very positive development in first nine months 2012
(firmenpresse) - DGAP-News: FAST Casualwear AG / Key word(s): Preliminary Results
FAST Casualwear continues very positive development in first nine
months 2012
14.11.2012 / 08:32
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Preliminary results 9 months 2012
FAST Casualwear continues very positive development in first nine months
2012
* Enhanced revenues of EUR 83.3 million representing a growth rate of 42.5%
* EBIT margin grows up significantly to 24.1%
* Expansion of distribution network leads to further growth
Hamburg, 14 November 2012 - FAST Casualwear AG, a thriving manufacturer of
casual footwear and apparel in China, realized record sales and outstanding
profitability in the first nine months of 2012. The preliminary figures
show a very positive business development with enhanced revenues of EUR
83.3 million and an EBIT margin amounting to 24.1%.
Among others, the expansion of the distribution network led to an increase
in revenues by 42.5% to EUR 83.3 million compared to EUR 58.5 million in
the first nine months of 2011. Measured in local currency RMB, revenues
grew by 26.3%. In the first nine months revenue already surpassed full year
revenues of 2011.
Gross profit rose during the reporting period by 83.8% to EUR 25.0 million.
Furthermore, EBIT amounted to EUR 20.1 million, representing a plus of
76.3% and an EBIT margin of 24.1% (9M 2011: 19.5%). The increase in EBIT
margin results from the cessation of relatively low margin trading business
and the increasing popularity of self-brand FAST products in China.
Positive outlook confirmed
FAST Casualwear confirms its optimistic expectations mentioned in the
half-year report 2012. With regards to its strong production capabilities
and its expanding distribution network, the company expects a revenue
growth rate for the full year 2012 in the range of 20%, measured in local
currency RMB. EBIT margin is expected to amount to at least 20%, including
the IPO expenses.
FAST Casualwear AG will publish its full 9 months report on November 29,
2012.
About FAST Casualwear AG
FAST Casualwear AG is the German holding company of FAST Group, a Chinese
group of companies engaged in the design, production and sale of
casualwear, consisting of footwear and apparel including accessories. It
mainly designs and produces casualwear under its own brand name 'FAST',
targeting consumers aged between 16 and 35 primarily in the lower tier
cities in China. FAST distributes its own brand products through 25
unaffiliated regional distributors, who sell the products via retail
outlets operated either by themselves or by third party sub-distributors.
Its distribution network consists of more than 838 retail outlets in over
100 cities throughout China. FAST also designs and produces footwear as
contract manufacturer for international brand owners, mainly from Europe
and the U.S. FAST's operating facilities are located in the southeast of
China in Jinjiang City, Fujian Province, one of the largest footwear
manufacturing hubs in China. FAST employs around 1,000 employees.
For further information please visit www.fast-casualwear.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49 (0)40 609 186 39
E-mail: baden(at)kirchhoff.de
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect FAST Casualwear'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 FAST
Casualwear's forward-looking statements are proving to be incorrect, FAST
Casualwear's actual results may be materially different from those
expressed or implied by such forward-looking statements. FAST Casualwear
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: FAST Casualwear AG
c/o Kirchhoff Consult AG, Herrengraben 1
20459 Hamburg
Germany
Phone: 040 60 91 86 0
Fax: 040 60 91 86 60
E-mail: contact(at)fastfashion.com.hk
Internet: www.fast-casualwear.com
ISIN: DE000A1PHFG5
WKN: A1PHFG
Listed: Regulierter Markt in Frankfurt (Prime Standard)
End of News DGAP News-Service
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193054 14.11.2012
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Datum: 14.11.2012 - 08:32 Uhr
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