- WKN: PLD555
- ISIN: DE000PLD5558
- Land: Deutschland
Nachricht vom 30.04.2012 | 10:14
Powerland AG offers a dividend in its first financial year
Powerland AG / Key word(s): Final Results/Dividend
POWERLAND AG offers a dividend to shareholders
- Group revenues in EUR rose by 30.5% year-on-year to EUR 146.9 million
- Gross profit improved by 45.2% to EUR 65.0 million
- EBIT increased by 19.4% to EUR 32.2 million
- Earnings per Share (EPS) were EUR 1.22 in 2011
- Dividend of EUR 0.25 per ordinary share will be proposed to shareholders
- Expansion of sales network in China to a total number of 164 shops
Frankfurt/Main, 2012-04-30 - POWERLAND AG (ISIN DE000PLD5558 / Prime Standard), the leading Chinese manufacturer of exclusive luxury handbags and leather goods, listed on the Frankfurt Stock Exchange since April 2011, presented today its annual report 2011 and closed successfully its first financial year as a listed company. Year-on-year POWERLAND Group revenue increased by 30.5% to EUR 146.9 million. Gross profit increased by 45.2% to EUR 65.0 million. EBIT for the financial year 2011 grew by 19.4% to EUR 32.2 million. Profit before tax increased by 5.3% to EUR 27.5 million. Earnings per share were EUR 1.22.
'Due to our successful financial year 2011 and against the background of the expected constant growth in the Chinese and the worldwide luxury markets POWERLAND will be able to pursue its successful and ambitious growth strategy and its targets even faster', stated Shunyuan Guo, CEO of POWERLAND AG. Because of the successful business development and the high level of profitability POWERLAND AG aims to pay a dividend of EUR 0.25 per ordinary share to its shareholders for the financial year 2011. Therefore shareholders will be able to participate at the company's success just in the first financial year as a listed company.
Group Revenue increased from EUR 112.6 million in 2010 by EUR 34.3 million to EUR 146.9 million in 2011. Revenue in the Luxury segment increased by 51.7% or EUR 27.3 million from EUR 52.9 million to EUR 80.2 million which corresponds to 54.6% of total Group revenue. For 2011, EBIT for the Luxury segment amounted to EUR 15.1 million, an increase of 58.8 % over previous year. Revenue in the Casual segment increased by 11.7% to EUR 66.8 million in 2011. EBIT of the segment amounted to slightly lower EUR 17.2.
Gross profit of POWERLAND Group was up 45.2 % reaching EUR 65.0 million in 2011 after EUR 44.8 million in 2010. Gross profit margin improved to 44.2 % as a result of the strong growth in the Luxury segment.
Selling and distribution (S&D) costs increased from 2010 to 2011 by EUR 8.4 million to EUR 19.6 million driven by increases in marketing costs for higher advertisement cost upon commencement of airport advertisement and launching POWERLAND Luxury Products. Administrative and other expenses increased to EUR 13.2 million.
Group EBIT of POWERLAND advanced by 19.4 % to EUR 32.2 million year-on-year. Profit before tax increased from EUR 26.0 million in 2010 to EUR 27.5 million in 2011. As a result of several external factors net profit of POWERLAND Group decreased by EUR 4.3 million to EUR 18.3 million. The decline of net profit occurred in particular due to higher net finance cost as a result of dramatic devaluation of the Euro against the Chinese currency (RMB), the expiration of the tax holiday and the enhanced marketing acitivities in the Luxury segment. In addition, the successful public listing expenses of EUR 2.3 million had also caused the decline of net profit. The total cost of POWERLAND's IPO in April 2011 was approximately EUR 7.5 million, all of which was charged to equity in the second quarter.
Assuming China's macroeconomic situation will remain healthy in 2012 management aims to achieve higher sales in 2012 and 2013 than in previous years. The consolidated EBIT should also rise, both as reported and on adjusted basis. The Luxury segment is anticipated to be the company's primary source of higher sales and earnings. New store openings and increased productivity from the 54 stores opened in 2011 will contribute substantially to segment growth in 2012. Overall, mid- and long-term growth will be achieved by broadening the product portfolio, in particular by adding new and innovative Luxury segment's products and also by upgrading the Casual segment's product mix. It is also POWERLAND's clear goal to further strengthen its position as a leading brand in China's mid- to high-end luxury market. The Company aims to be among the most profitable companies in the industry. The Company believes that its average annual sales growth in 2012 and 2013 will be higher than China's overall luxury goods consumption growth. The Company will also continue its successful path of expanding its overall distribution network and launching more and more self-operated stores in particular. POWERLAND aims to have a total of 300 stores by 2014.
The aim of POWERLAND is for its shareholders to participate proportionately in the Company's future success.
* Earnings per share calculation is based on 15.0 million shares
For additional information please refer to www.POWERLAND.ag
For additional information, please contact:
End of Corporate News
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|Lyoner Straße 14|
|60528 Frankfurt am Main|
|Phone:||+49 172 - 67 49 792|
|Fax:||+49 6196 - 777 99 66|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|
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