DGAP-News: Joyou AG: Joyou opens more than 250 stores in Q1
(firmenpresse) - Joyou AG / Miscellaneous
10.05.2010 09:27
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.
---------------------------------------------------------------------------
Hamburg, Germany, 10 May 2010. Joyou AG, a leading manufacturer for faucets
and a specialist for other sanitary ware products in China, opened 253 new
points of sale in the first quarter of 2010.
The company therefore had a network of 2,780 sales outlets throughout China
as at 31 March 2010. In the same period of last year, Joyou opened 101 new
stores. It therefore achieved growth of approximately 150 per cent in Q1
2010. Opening new stores is one of Joyou AG's primary growth drivers.
Most of the new outlets have been opened in small and medium-sized Chinese
cities (tier 3 and tier 4), resulting in growth figures of 179 per cent and
165 per cent respectively in the first quarter of the current year. This is
in line with the company's strategy of focusing its growth on smaller and
medium-sized locations in particular.
Joyou AG intends to increase its number of stores to 4,500 by 2013.
500 Grohe stores planned
Joyou AG, which was successfully incorporated into the Prime Standard
segment of the Frankfurt Stock Exchange on 30 March 2010, signed a
marketing agreement with Grohe in October 2009, which allows Joyou to
market Grohe products in China using independent regional intermediaries.
To do so, Joyou intends to open some 500 sales outlets in 2010. The first
Grohe stores have already been opened.
Strong turnover and profit growth
Joyou's total turnover increased from EUR 44.9 million in 2007 to EUR 135.0
million in 2008, and then to EUR 172.3 million in 2009, which equates to an
average annual growth rate of 96% during this period. Joyou's operating
result (EBIT) increased by an average of 97% per annum, from EUR 10.0
million in 2007 to EUR 25.0 million in 2008 and EUR 39.0 million in 2009.
The company's net profit correspondingly increased by an annual average of
69%, from EUR 7.8 million in 2007 to EUR 16.1 million in 2008 and EUR 22.3
million 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
evenues (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 concerning prognoses
Certain statements in this communication contain formulations or terms
referring to the future or future developments, as well as negations of
such formulations or terms, or similar terminology. These are described as
forward-looking statements. In addition, all information in this
communication regarding planned or future results of business segments,
financial classification numbers, developments of the financial situation,
or other financial or statistical data contains such forward-looking
statements. The company cautions prospective investors not to rely on such
forward-looking statements as certain prognoses of actual future events and
developments. The company is neither responsible nor liable for these
forward-looking statements. It is not responsible for updating such
information, which only represents the state of affairs on the day of
publication.
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
10.05.2010 09:27 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
---------------------------------------------------------------------------
Bereitgestellt von Benutzer: EquityStory
" alt="FORMATION METALS RAISES $10 MILLIONDatum: 10.05.2010 - 09:27 Uhr
Sprache: Deutsch
News-ID 20539
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 301 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Joyou AG: Joyou opens more than 250 stores in Q1"
steht unter der journalistisch-redaktionellen Verantwortung von
Joyou AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
