DGAP-News: Youbisheng Green Paper AG further improves profit margins in H1 2013
(firmenpresse) - DGAP-News: Youbisheng Green Paper AG / Key word(s): Half Year Results
Youbisheng Green Paper AG further improves profit margins in H1 2013
28.08.2013 / 08:41
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H1 Results 2013
Youbisheng Green Paper AG further improves profit margins in H1 2013
Munich, 28 August 2013. Youbisheng Green Paper AG recorded improved profit
margins in the first six months of 2013 whereas results were on the same
level as in the year 2012. Revenues compared to previous years reporting
period slightly decreased by 3.1 per cent from 48.5 million Euros to 47.0
million Euros. With 12.8 million Euros, gross profit did not change
year-on-year. The operating income (EBIT) slightly increased by 0.9 per
cent from 11.7 million Euros to 11.8 million Euros. Net profit was also
stable, reaching 8.8 million Euros as in the previous year.
Correspondingly, margins of the Chinese manufacturer of eco-friendly
linerboard for the growing Chinese consumer goods industry improved
slightly: For the first half of 2013, gross profit margin was 27.2 per cent
(H1 2012: 26.4 per cent), EBIT margin was 25.0 per cent (H1 2012: 24.1 per
cent) and net profit margin 18.8 per cent (H1 2012: 18.1 per cent).
The slight decrease in revenues reflected the lower prices of raw
materials, that Youbisheng partially passed on to its clients.
Nevertheless, the company managed to improve its profit margin due to lower
prices for recycled paper, strict cost control and enhanced efforts to sell
higher margin products. This resulted in higher margin levels.
Average gross margins rise in all product segments
Youbisheng's sales of self-produced single-sided testliner decreased by
11.6 per cent to 20.5 million Euros between January and June 2013. The main
reasons for this decrease were a lower average selling price and a shifting
of production capacities from single-sided testliner to higher value-added
products, resulting in a lower sales volume. Average gross profit margin in
this segment increased from 27.4 per cent to 28.5 per cent.
The sales of double-sided testliner and anti-counterfeit testliner
increased by 13.8 per cent to 10.7 million Euros and 44.4 per cent to 1.3
million Euros, respectively. While the general demand for double-sided
testliner remained strong, allowing Youbisheng to reap a higher profit
margin, the business with anti-counterfeit testliner also continued its
growth as more costumers were interested in the inherent security feature
of this product. Average gross profit margin for double-sided testliner
improved year-on-year from 31.6 per cent to 32.9 per cent while the average
gross profit margin for anti-counterfeit testliner rose from 34.7 per cent
to 35.5 per cent.
The sales of sub-contracted testliner decreased by 2.0 per cent from 14.9
million Euros in H1 2012 to 14.6 million Euros in H1 2013 with a stable
average gross profit margin of 21.0 per cent.
The company's Group equity increased from 64.0 million Euros as of 31
December 2012 to 75.5 million Euros as of 30 June 2013, representing an
equity ratio of 75.5 per cent. The increase in equity was due to the
generated profits from operations.
Outlook for the full financial year 2013
The demand for linerboard is continuing to grow. This is a result of the
rising demand for consumer goods in China but also of the fact that the
Chinese government is going to slowly replace all packaging products, that
are not environmentally friendly. Despite the slower economic growth in
China, the forecast for the annual linerboard growth until the year 2015 is
about 12 per cent.
Due to limited production capacity of Youbisheng, the management has to
rely on subcontractors and changes in the product mix to increase revenue
as well as to increase the profit margin. The management plans to set up a
new production line in Huanggang city in Hubei. Once the production has
started there, this is expected for 2015, the new production lines will add
300,000 tons of annual production capacity to the company's potential
output.
For the full year 2013 management expects revenues to reach 110 million
Euros and an EBIT margin of at least 24.0 per cent.
The full H1 2013 report of Youbisheng is available on the website at
http://www.youbisheng-greenpaper.de/en.
About Youbisheng Green Paper AG
Youbisheng Green Paper AG is the German holding company of a Chinese
clean-tech leader of eco-friendly produced linerboard from up to 100 per
cent recovered fibres. The high-quality linerboard innovations of
Youbisheng take up a special position in the Chinese market and are
produced in the own production plant near Quanzhou City. They are used in
the packaging industry in the Fujian and Guangdong Province (together about
141 million inhabitants), especially for visually attractive sales
packaging and carrier bags of high-quality consumer goods.
Youbisheng has been operating as a paper producer since 2000. In fiscal
year 2012 and with its production plants operating at full capacity, it
manufactured almost 150,000 metric tons of linerboard, making it one of the
biggest linerboard producers in Fujian and Guangdong Provinces.
For further Information please contact:
Kirchhoff Consult AG
Sebastian Bucher
Tel.: +49 (0)40 60 91 86 18
sebastian.bucher(at)kirchhoff.de
Youbisheng Green Paper AG
Gustav-Heinemann-Ring 44
81739 München
contact(at)youbisheng-greenpaper.de
Disclaimer concerning prognoses
This communication contains forward-looking statements Forward-looking
statements are statements that are not historical facts instead they
reflect the current views and expectations of Youbisheng Green Paper AG 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 materialize or if the assumptions underlying any of
the forward-looking statements of Youbisheng Green Paper AG are proving to
be incorrect, the actual results of Youbisheng Green Paper AG may be
materially different from those expressed or implied by such
forward-looking statements. Youbisheng Green Paper AG 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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28.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Youbisheng Green Paper AG
Gustav-Heinemann-Ring 44
81739 München
Germany
Phone: 089 - 451 63992
Fax: 089 - 451 63993
E-mail: contact(at)youbisheng-greenpaper.de
Internet: www.youbisheng-greenpaper.de
ISIN: DE000A1KRLR0
WKN: A1KRLR
Listed:Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
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227806 28.08.2013
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Datum: 28.08.2013 - 08:41 Uhr
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