DGAP-News: KINGHERO AG: Dynamic growth continues
(firmenpresse) - KINGHERO AG / Preliminary Results/Half Year Results
27.08.2010 08:00
Dissemination of a Corporate News, transmitted by
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- Revenues increased by 50% to EUR 32.9 million (RMB 298 million) in H1
2010 compared to previous year
- EBIT margin of operating entities remains above 27%
Munich, 27. August 2010. KINGHERO AG, the German holding company of a
fast-growing Chinese clothing manufacturer and designer with one of the
leading fashion brands in China - listed in the Entry Standard of the
Frankfurt Stock Exchange since 6th August, 2010 - continued its strong
growth in the first half of 2010. According to preliminary, unaudited
calculations, revenues increased by 50% to EUR 32.9 million (RMB 298
million) compared to the first half-year of 2009 (RMB 199 million).
In the second quarter of 2010 KINGHERO generated revenues of EUR 18.9
million (RMB 157 million), which represents an increase of 45% compared to
Q2 2009.
'Due to the New Year celebration, the first quarter is always exceptionally
strong. We are even more pleased that we achieved strong growth compared to
2009 in the second quarter as well', states ZHANG Yu, founder and CEO of
KINGHERO AG.
KINGHERO AG was successfully listed in the Entry Standard of the Frankfurt
Stock Exchange on August 6th, 2010. KINGHERO intends to use the proceeds of
the company's IPO to fund further corporate growth by the opening of new
flagship stores, the expansion of the distribution network as well as the
expansion of the value chain and the production capacities.
As announced, the final results and the half-year report of KINGHERO AG
will be published on September 30, 2010.
About KINGHERO AG
KINGHERO AG is the German Holding Company of the KINGHERO Group of
companies, mainly active in the Peoples Republic of China (PRC). The Group
is a strongly growing apparel manufacturer and designer, featuring a
leading Chinese fashion brand for the strongly growing urban middle class
in China. The key to the Company's success is a high fashion degree with a
European 'touch and feel' as well as an upscale quality. The high speed of
the design and marketing of new collections ensures a fit to the changing
demands of the growing urban middle class in China. Being in this business
for more than 25 years, the group and its 896 employees produce attire for
all seasons under the KINGHERO brand. The product portfolio includes suits,
jackets, shirts, pants, sweaters for men and women and is divided into a
business casual range and a general casual range.
In 2009, the operating companies in the KINGHERO Group generated total
sales of EUR 48.9 million, EBIT of EUR 13.3 million and net profit of EUR
10.7 million. This represents increases over 2008 of 52.3% (sales), 59.4%
(EBIT) and 54.5% (net profit). KINGHERO holds a substantial lead over the
industry average with an EBIT margin of 27%. The company expects Group
sales to increase again significantly in 2010. In the first quarter of
2010, sales rose to EUR 14.9 million. This corresponds to an increase of
42.9% over the sales of EUR 10.4 million in the same quarter the previous
year. The EBIT margin amounted to more than 31%.
Disclaimer
This publication is not an offer of any securities for sale or a
solicitation of an offer to purchase any securities. The shares have been
sold.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
KINGHERO AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
Kirchhoff Consult AG
Verena Rauch
Phone: +49 (0)40 60 91 86 0
verena.rauch(at)kirchhoff.de
KINGHERO AG
Montenstr. 11
80639 Munich
Germany
Phone: +49 (0)89 12 71 13 29
xiaoping.zhao-moll(at)kinghero.de
27.08.2010 08:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: KINGHERO AG
Montenstr. 11
80639 München
Deutschland
Phone: 089 - 127 11 329
Fax: 089 - 127 11 313
E-mail: contact(at)kinghero.de
Internet: www.kinghero.de
ISIN: DE000A0XFMW8
WKN: A0XFMW
Listed: Freiverkehr in Hamburg, Düsseldorf, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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Datum: 27.08.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 32091
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