DGAP-News: FAST Casualwear AG / Key word(s): Preliminary Results FAST Casualwear AG: Half-year revenues on previous year level 29.08.2013 / 14:54 --------------------------------------------------------------------- Preliminary results half-year 2013 FAST Casualwear AG: Half-year revenues on previous year level * Revenues remain stable at 53.9 million Euros * EBIT amounts to 10.0 million Euros with an EBIT margin of 18.5 per cent Hamburg, August 29, 2013 - According to preliminary figures FAST Casualwear AG, a manufacturer of casual footwear and apparel in China, realized stable revenues of 53.9 million Euros in the first six months 2013. In line with the announced strategy, sales activities were expanded, which lead to higher selling and distribution costs. Accordingly EBIT decreased and amounted to 10.0 million Euros, representing an EBIT margin of 18.5 per cent. The companies' largest segment FAST brands grew slightly to 44.7 million Euros. The segment consists of branded shoes and casualwear. Following its strategy, FAST put a stronger focus on sales of FAST branded product in the first six months of 2013 and gave up one of the production plants for OEM/ODM products. This affected the results of the smaller OEM/ODM segment, which decreased by 5.2 per cent to 9.2 million Euros (H1 2012: 9.7 million Euros). Gross profit went down by 14.2 per cent to 13.9 million Euros in the first six months 2013 due to higher cost of sales. This development together with higher selling and distribution expenses in line with brand building measures impacted the operating profit (EBIT). It decreased by 28.1 per cent to 10.0 million Euros (H1 2012: 13.9 million Euros), representing an EBIT margin of 18.5 per cent (H1 2012: 25.8 per cent). FAST will publish its complete Interim Report Q2 2013 on September 30, 2013. The report will be available under the following link: http://www.fast-casualwear.com/investor-relations/publications.html About FAST Casualwear AG FAST Casualwear AG is the German holding company of FAST Group, a Chinese group of companies engaged in the design, production and sale of casualwear, consisting of footwear and apparel including accessories. It mainly designs and produces casualwear under its own brand name 'FAST', targeting consumers aged between 16 and 35 primarily in the lower tier cities in China. FAST distributes its own brand products through 26 unaffiliated regional distributors, who sell the products via retail outlets operated either by themselves or by third party sub-distributors. Its distribution network consists of more than 951 retail outlets in over 100 cities throughout China. FAST also designs and produces footwear as contract manufacturer for international brand owners, mainly from Europe and the U.S. FAST's operating facilities are located in the southeast of China in Jinjiang City, Fujian Province, one of the largest footwear manufacturing hubs in China. FAST employs around 981 employees. For further information please visit www.fast-casualwear.com or contact FAST Casualwear AG [email protected] Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect FAST Casualwear's current views and expectations and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialise or if the assumptions underlying any of FAST Casualwear's forward-looking statements are proving to be incorrect, FAST Casualwear's actual results may be materially different from those expressed or implied by such forward-looking statements. FAST Casualwear does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. End of Corporate News --------------------------------------------------------------------- 29.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's 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: FAST Casualwear AG c/o Kirchhoff Consult AG, Herrengraben 1 20459 Hamburg Germany Phone: 040 60 91 86 0 Fax: 040 60 91 86 60 E-mail: [email protected] Internet: www.fast-casualwear.com ISIN: DE000A1PHFG5 WKN: A1PHFG Listed: Regulierter Markt in Frankfurt (Prime Standard) End of News DGAP News-Service --------------------------------------------------------------------- 228127 29.08.2013