DGAP-News: Asian Bamboo announces strong FY 2010 preliminary results
(firmenpresse) - DGAP-News: Asian Bamboo AG / Key word(s): Preliminary Results
Asian Bamboo announces strong FY 2010 preliminary results
28.02.2011 / 08:00
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Hamburg, 28 February 2011 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading integrated company in the bamboo industry, is pleased to
announce the following preliminary results for FY 2010:
* Revenue grew 30% year-on-year to EUR 75.9 million (2009: EUR 58.6
million)
* The net profit grew 9% year-on-year to EUR 31.6 million (2009 Restated:
EUR 28.9 million) and the net profit margin was 42%
* Excluding option costs and road repair costs, the net profit grew 23% to
EUR 35.5 million and the net profit margin was 47%
Following the implementation of the new principles of the biological asset
valuations, the impact of the biological asset valuations on the net profit
figure is minimised and the net profit numbers are now similar to the
previously stated adjusted net profit numbers.
The solid year-on-year increase in revenue and net profit was primarily the
result of a larger mature plantation size and higher prices. The audited
financial results for FY 2010 will be published on 30 March 2011.
Mr. Lin Zuojun, founder and CEO of Asian Bamboo, commented: 'As a
consequence of the rainstorms in June we sold fewer bamboo trees during the
year than we would have done under normal circumstances. However, this was
offset by an increase in output of other product categories and price
increases, particularly for fresh bamboo shoots. All in all our performance
was satisfactory, which shows the resilience and stability of our business
model.'
Asian Bamboo guides for a revenue and net profit margin of at least EUR 125
million and 40% respectively, in FY 2011
The Management Board stated that it expects the total revenue to reach at
least EUR 125 million in FY 2011. It further expects the net profit margin
in the plantation business to remain above 45% and guides for a net profit
margin, including the fibre business, of at least 40%. The Management Board
expects the fibre business to be profitable in FY 2011 and that the
profitability of this business will gradually improve over time.
In FY 2011, the key growth drivers are expected to be:
* A year-on-year increase in the total size of mature plantations of around
10,000 ha (31%)
* The production and sale of around 15,000 tonnes of bamboo fibre
* Continued favourable demand and pricing developments for all our products
Mr. Lin Zuojun commented: 'We have had a strong operational performance in
the first two months of the year and the outlook for our business continues
to be very promising. In light of the recent sharp increase in the price of
cotton, we expect the fibre business to generate significant additional
revenue and profits. In addition, we expect to increase the mature
plantation size by around 30%, year-on-year, both in FY 2011 and FY 2012.'
End of Corporate News
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28.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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 in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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113622 28.02.2011
Datum: 28.02.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 33311
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