DGAP-News: Asian Bamboo announces strong Q1 numbers and raises guidance
(firmenpresse) - Asian Bamboo AG / Quarter Results/Change in Forecast
12.05.2010 00:01
Dissemination of a Corporate News, transmitted by
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Hamburg, 12 May 2010 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading producer of bamboo trees and organic bamboo shoots, is
pleased to announce the following Q1 results. The numbers are excluding
non-recurrent items and all comparisons are with Q1 2009 unless otherwise
stated:
* Revenue was up by EUR 6.2 million (58%) to EUR 16.9 million (2009: EUR
10.7
million)
* The adjusted net profit was up by EUR 4.15 million (62%) to EUR 10.8
million (2009: EUR 6.7 million)
* The adjusted net profit margin for the year was two percentage points
higher at 64% (2009: 62%)
* Including accrued costs for the stock appreciation rights, but excluding
other non-recurrent items, the adjusted net profit was up 40% at EUR 9.3
million and the adjusted net profit margin was 55%
* The cash balance increased, compared to the end of 2009, by EUR 7.9
million to EUR 37 million
* Biological assets and long term pre-payments increased, compared to the
end of 2009, a combined 15% to EUR 205 million
The solid increase in revenue and adjusted net profit was the result of the
additional income derived from increasing the total plantation size,
increased sales to partner companies and higher prices for fresh winter and
spring shoots compared to a year ago.
Lin Zuojun, CEO and founder of Asian Bamboo, commented: 'We have had an
exceptionally strong start to the year. As a consequence of the
significantly increased sales to our partner companies and the current
inflationary environment in China, we adjust up our revenue guidance to
more than EUR 80 million for the year and maintain the adjusted net profit
margin of at least 45%.'
For enquiries, please contact:
Asian Bamboo AG:
Peter Sjovall +852-9385 3868
Chief Financial Officer
Anja Holst +49-(0)40 37644 798
Investor Relations Manager
12.05.2010 00:01 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Asian Bamboo AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 798
Fax: +49 40 37644 500
E-mail: info(at)asian-bamboo.de
Internet: www.asian-bamboo.de
ISIN: DE000A0M6M79, DE000A0M6M79
WKN: A0M6M7, A0M6M7
Listed: Regulierter Markt inFrankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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Datum: 12.05.2010 - 00:01 Uhr
Sprache: Deutsch
News-ID 20708
Anzahl Zeichen: 0
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Kategorie:
Business News
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