A.S. Création Tapeten AG
A.S. Création Tapeten AG: Earnings after taxes improve notably
DGAP-News: A.S. Création Tapeten AG / Key word(s): 9-month figures A.S. Création Tapeten AG, Gummersbach Earnings after taxes improve notably A.S. Création Tapeten AG, Europe’s leading wallpaper manufacturer, today published the interim report for the period ended September 30, 2016. A summary is provided below: Revenues decline because of difficult environment Earnings after taxes above prior year level By contrast, earnings after taxes improved notably to EUR 5.5 million, up EUR 2.1 million or 59.7% on the previous year’s EUR 3.4 million. This is mainly attributable to the improved earnings position of the Russian production company, A.S. & Palitra, in which A.S. Création holds a share of 50%. This joint venture has benefited from the changed conditions in Russia, which have led to a shift in demand towards Russian-produced wallpapers. As a result of the increased sales revenues, the joint company’s capacity utilisation and, hence, its earnings improved. Given that A.S. Création holds a 50% stake in A.S. & Palitra, this improved result is not reflected in earnings before interest and taxes, however, but in the financial result of the A.S. Création Group. While a pro-rated loss of EUR 1.3 million was posted in the first nine months of the previous year, A.S. Création benefited from a pro-rated profit of EUR 2.4 million in the current fiscal year. Thanks to the greatly improved profit contribution made by the Russian joint venture, the Group’s earnings after taxes, at EUR 5.5 million, already exceeded the EUR 3.3 million posted for the full year 2015 at the nine-month state of 2016. Earnings forecast for full year 2016 confirmed In keeping with the company’s dividend policy to date, such an improvement in earnings would lead to a higher dividend for the fiscal year 2016. In view of A.S. Création’s excellent financial position as at September 30, 2016, the Managing Board does not see any financial reasons that would speak against a higher dividend. Financial liabilities have been repaid in full, and A.S. Création had a net credit position of EUR 7.6 million as of September 30, 2016. The equity ratio of 64.4% on September 30, 2016 additionally underlines the excellent financial position of A.S. Création. The Group’s key figures for the first nine months of 2016 are summarised below:
Gummersbach, November 3, 2016 A.S. Création Tapeten AG The Managing Board Inquiries The full 9-month report is available at:
2016-11-03 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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, Tradegate Exchange | |
End of News | DGAP News Service |