A.S. Création Tapeten AG
A.S. Création Tapeten AG: No dividend for the fiscal year 2014
A.S. Création Tapeten AG / Key word(s): Dividend 16.03.2015 15:08 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- A proposal will be made to the Annual General Meeting of Shareholders of A.S. Création Tapeten AG, which is scheduled for May 7, 2015, not to pay out a dividend for the fiscal year 2014. The Supervisory Board approved the corresponding profit appropriation proposal by the Managing Board at today's meeting. This decision was taken against the background of the fact that A.S. Création posted a net loss after taxes of EUR -9.3 million for the fiscal year 2014, whereas a consolidated net profit after taxes of EUR 1.3 million had been recorded in the previous year. The poorer earnings position is due, among other things, to exchange losses of EUR 10.4 million and the penalties of EUR 5.0 million imposed on member companies of the A.S. Création Group by the French antitrust authorities. A.S. Création reported on these adverse effects on earnings in two ad-hoc announcements dated December 16, 2014 and December 23, 2014. At EUR -9.3 million, the consolidated net loss for the fiscal year 2014 lies within the mid to high single-digit million range announced by the Managing Board in December 2014. Publication of the consolidated financial statements for the period ended December 31, 2014 including further details is scheduled for March 25, 2015. The above profit appropriation proposal by the Managing Board and the Supervisory Board is in keeping with the dividend policy pursued and communicated by A.S. Création for many years. This policy provides for a high payout ratio as long as this is warranted by the company's financial situation. Consequently, the loss posted by the company for the fiscal year 2014 is reflected in a cancellation of the dividend. Although this means that no dividend would be paid for the first time since the 1998 IPO, the Managing Board and the Supervisory Board are convinced that this approach is in the long-term, sustainable interest of the company and, hence, of its shareholders. Gummersbach, March 16, 2015 A.S. Création Tapeten AG The Managing Board Inquiries: Maik Krämer, Director of Finance and Controlling Suedstr. 47 D-51645 Gummersbach Phone: +49-2261-542 387 Fax: +49-2261-542 304 E-mail: m.kraemer@as-creation.de 16.03.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: A.S. Création Tapeten AG Südstraße 47 51645 Gummersbach Germany Phone: +49 22 61 54 2-0 Fax: +49 22 61 54 2-3 04 E-mail: investor@as-creation.de Internet: http://www.as-creation.de ISIN: DE000A1TNNN5 WKN: A1TNNN Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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