DGAP-News: Shigo Asia AG: SHIGO increases sales and earnings in 2009
(firmenpresse) - Shigo Asia AG / Final Results
17.05.2010 12:30
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Preliminary figures 2009
- Sales increased by 18.6 percent to EUR 45.5 million
- EBIT margin of 14 percent
- Production capacity improved to 9.6 million blankets
- New loan will allow further expansion of production capacities
Hamburg, 17. May 2010. SHIGO ASIA AG, the largest synthetic blanket
supplier in the world, has further expanded its production capacities in
2009: the company produced about 8.86 million blankets in the past
financial year compared with 6.63 million in 2008. According to preliminary
calculations sales increased from EUR 38.2 million in 2008 by 18.6 percent
to EUR 45.5 million in 2009. The Profit from Operations (EBIT) increased by
22.7 percent to EUR 6.4 million (FY 2008: EUR 5.2 million), which
represents an EBIT margin of 14 percent.
'We received the payment of a new loan in the amount of USD 10.5 million
which will allow us to expand our existing production capacity from
annually 9.6 million blankets to 13.2 million acrylic and rachel blankets.
With an order volume of about EUR 6 million for 2010, we are confident that
we will be able to further increase or sales and earnings in 2010,' says
Qian Chunsheng, Chairman of the SHIGO ASIA AG Management Board.
The investment mainly consists of the construction of a new factory
building and an additional waste water treatment plant as well as the
purchase of different types of warping and knitting machines, quality
control equipment, printing lines, washing machines and steaming ovens and
various equipment for the finishing process. Around 5 percent of the total
investment shall be used for research and development.
'The installation of the three production lines for the production of
blankets is already realized. The construction of the production building
and the complete infrastructure are supposed to be finished by the end of
July 2010,' states Qian Chunsheng.
About SHIGO ASIA
SHIGO ASIA AG develops, produces and sells household textiles. The company
is the largest manufacturer of blankets in the world. SHIGO has more than 1
700 employees and observes the highest international standards in its
production operations in China.
SHIGO's competitive strengths are the development of innovative products
and modern production technology. High-quality workmanship and lavish
design are outstanding features of the textile products, which are
optimised on an ongoing basis with the focus primarily on health and
comfort.
Please find further information under www.shigo-asia.com
Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Tel.: +49 40/609186-50, janina.wismar(at)kirchhoff.de
17.05.2010 12:30 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 17.05.2010 - 12:30 Uhr
Sprache: Deutsch
News-ID 20972
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