AFKEM AG

  • WKN: A1EMBS
  • ISIN: DE000A1EMBS3
  • Land: Deutschland

Nachricht vom 31.05.2007 | 13:17

Report on business year 2006


AFKEM AG / Final Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this
announcement.
----------------------------------------------------------------------



In 2006, AFKEM AG has further strengthened its position as a marketer of
chemical products. Relations with Eastern European producers of chemicals
have intensified.

AFKEM AG finished 2006 with a profit of EUR 29.781,90.  Compared to the
previous business year, results marginally increased.  Having built up
distribution, turnover has increased as well.  Sales revenue grew by 452%
to EUR 13.200.135,73. Personnel costs amounted to EUR 386.850,56. 
Depreciation on office equipment totalled EUR 22.448,70.  Other operating
expenses amounted to EUR 320.398,58. The financial result of EUR 17.563,91
is mainly due to income on interest on provisions and receivables for
taxes. Gross surplus grew accordingly with turnover. Yet the margin on
gross surplus is not entirely satisfactory because market prices of AFKEM
AG are under enormous pressure as a result of strong competition.

With a turnover of 10 million EUR, titanium dioxide was the main product of
AFKEM and formed 75% of the total turnover in 2006. Titanium dioxide is
mainly used in the varnish and paint industry and in the production of
paper and plastics. It is produced in the Ukraine by Crimea Titan.  The
white pigments of the Ukrainian plant produced by the sulphate process
comply with high quality standards. In 2007, Crimea Titan appointed AFKEM
as official sales representative on the German market. At about 21%, soda
ash was the second most important product and was sold on the Mediterranean
markets. It is also being produced in the Ukraine and imported from the
Crimean Soda Plant.

Good relations to the Ukrainian producers of soda ash and titanium dioxide
will be an asset for future development of sales activities. As the quality
of the Ukrainian products is good there were no claims in 2006. Raising the
margin of gross surplus is the focus of the managing director, though on
the background of highly comparative markets for Soda ash and titanium
dioxide that is not an easy task.



AFKEM AG
Managing Director, Matthäus Ebinal, Tel (040) 5300 300


DGAP 31.05.2007 
----------------------------------------------------------------------
 
Language:     English
Issuer:       AFKEM AG
              Erdmannstraße 10-12
              22765 Hamburg Deutschland
Phone:        +49-(0)40-530030-0
Fax:          +49-(0)40-530030-33
E-mail:       info@afkem.com
www:          www.afkem.com
ISIN:         DE0005422000
WKN:          542200
Indices:      
Listed:       Freiverkehr in Berlin-Bremen, Stuttgart, München; Open Market
              in Frankfurt
 
End of News                                     DGAP News-Service
 

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