DGAP-News: Asian Bamboo reiterates its FY 2011 guidance
(firmenpresse) - DGAP-News: Asian Bamboo AG / Key word(s): Miscellaneous/Forecast
Asian Bamboo reiterates its FY 2011 guidance
05.06.2011 / 21:40
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Hamburg, 5 June 2011 - In light of the recent share price volatility the
Management Board of 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, reiterates its
previously stated FY 2011 guidance of a revenue of at least EUR 125 million
and a net profit margin of at least 40%. In addition, the Management Board
states the following:
* Asian Bamboo was listed on the Prime Standard (Main Board) of Deutsche
Boerse in November 2007 after going through an IPO process
* The Company's financial statements are audited by Deloitte and Asian
Bamboo's financial statements have received unqualified audit opinions
every year
* Since the listing, as part of the year end audit, the value of the
Company's biological assets has been assessed by Jones Lang Lasalle
Sallmanns ('Sallmanns'), a leading valuation firm with global operations,
after going through a very detailed assessment process. For example, during
the FY 2010 assessment, Sallmanns counted trees in 2,500 random locations
on the Company's plantations
* The Company uses a conservative assessment method for the biological
asset valuation. Only the bamboo trees and bamboo shoots which are on the
plantations at year end are included in the calculation. This means that,
on the Company's balance sheet in the annual report, Asian Bamboo only
values an estimated 25% of all bamboo trees, 5% of all spring bamboo shoots
and 3% of all winter bamboo shoots which are expected to be harvested on
the plantations during the lease period
* By the end of Q1 2011, Asian Bamboo had only EUR 12.3 million in bank
debt of which EUR 10.6 million is a 7-year loan arrangement with Deutsche
Investitions- und Entwicklungsgesellschaft mbH ('DEG'). The Company's debt
to equity ratio was 0.04 at the end of Q1 2011
* The Company is conservatively managed and the Company's business
expansion is carefully planned, implemented and communicated
* The Management Board is incentivised through a stock option scheme which
can be exercised in September 2014 at the earliest
* As a German company, Asian Bamboo has a dual board structure with an
independent Supervisory Board supervising the Management Board
* Mr. Lin Zuojun, Asian Bamboo's founder, CEO and largest shareholder with
a 37.3% stake, founded the Company in 1992 and has developed the company
step by step to what it is today over a period of 20 years
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
End of Corporate News
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05.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Asian Bamboo AGStadthausbrücke 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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127496 05.06.2011
Datum: 05.06.2011 - 21:40 Uhr
Sprache: Deutsch
News-ID 34309
Anzahl Zeichen: 0
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Kategorie:
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