AFKEM AG
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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