DGAP-News: A.S. Création Tapeten AG / Key word(s): Final Results A.S. Création not satisfied with FY 2017 22.03.2018 / 09:30 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- A.S. Création Tapeten AG, Gummersbach (ISIN DE000A1TNNN5) A.S. Création not satisfied with FY 2017 Weak demand in the EU sends revenues falling In the fiscal year 2017, A.S. Création's sales revenues declined by EUR 9.3 million or 6.1% from EUR 152.6 million in the previous year to EUR 143.3 million. Revenues were thus in line with the latest forecast for the year 2017 of EUR 138 million to EUR 143 million. In the EU countries, which were faced with generally weaker demand for wallpapers and furnishing fabrics, A.S. Création's sales revenues fell by 9.6%. Gross revenues in non-EU Eastern European countries were up by a pleasant 9.6% on the previous year in 2017. A.S. Création was also able to increase its exports to non-European markets in 2017. A.S. Création posts loss for FY 2017 In the fiscal year 2017, A.S. Création incurred a loss before taxes of EUR 17.8 million, compared to a profit of EUR 10.2 million in the previous year. This high loss is essentially attributable to the unfavourable outcome of the antitrust proceedings in Germany. The penalty imposed on the company and the additional legal costs had an adverse impact of EUR 13.1 million (previous year: EUR 0.0 million) on earnings before taxes in the reporting year. Moreover, the result was influenced by additional extraordinary effects in both 2017 and 2016, which related to exchange gains and losses as well as restructuring expenses. Adjusted for these extraordinary effects, earnings before taxes declined by EUR 8.8 million from EUR 7.0 million in the previous year to EUR -1.8 million in the fiscal year 2017. This marked deterioration in earnings is attributable to lower revenues, higher commodity and energy prices and the fact that the optimisation of the cost structure was not completed in 2017. In its latest publications, the Managing Board of A.S. Création had projected a loss of between EUR -16 million and EUR -19 million. While this means that the loss is within the projected range, the Managing Board is not satisfied with the fiscal year 2017, all the less so as A.S. Création failed to generate a profit even if adjusted for extraordinary effects. No dividend for FY 2017 A.S. Création's dividend policy provides for a high payout ratio as long as this is permitted by the company's financial situation. In keeping with this dividend policy, the loss posted for the fiscal year 2017 means that no dividend would be paid. It will therefore be proposed to the Annual General Meeting of Shareholders to refrain from paying a dividend. Positive outlook on 2018 The Managing Board projects consolidated sales revenues of between EUR 150 million and EUR 155 million for 2018. Growth should primarily be driven by non-EU Eastern European markets, where another production facility will be taken into operation in spring 2018. A.S. Création also plans to gain market share in the EU, which is the company's largest output market. Building on the planned revenue growth and the cost-cutting measures implemented in the course of 2017, A.S. Création should return to profit in 2018. The Managing Board projects earnings after taxes of between EUR 3 million and EUR 4 million. The Group's key figures for the fiscal year 2017 are summarised below: 2017 2016 Change Sales revenues EUR m 143.3 152.6 - 6.1 % Earnings before interest and taxes EUR m - 5.9 n.a. (EBIT) 15.8 Earnings before taxes EUR m - 10.2 n.a. 17.8 Earnings after taxes EUR m - 7.4 n.a. 17.8 Earnings per share EUR/shar- - 2.70 n.a. e 6.45 Cash-flow from operating activities EUR m 3.2 17.1 - 81.1 % Capital expenditures EUR m 10.2 5.0 103.8 % Depreciation EUR m 6.5 7.6 - 14.1 % Number of employees (average) 761 768 - 0.9 % Gummersbach, March 22, 2018 A.S. Création Tapeten AG The Managing Board Inquiries: Maik Krämer, Chairman of the Managing Board, Director of Finance and Controlling, phone +49-22 61-542-387, fax +49-22 61-542-304, e-mail: [email protected] The 2017 Annual Report is available at www.as-creation.de or from A.S. Création Tapeten AG, Frau Börngen, Südstr. 47, D - 51645 Gummersbach, phone: +49-22 61-542-350, e-mail: [email protected] --------------------------------------------------------------------------- 22.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- 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: [email protected] 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 --------------------------------------------------------------------------- 666983 22.03.2018