02.08.2018
A.S. Création Tapeten AG DE000A1TNNN5
DGAP-News: A.S. Création Tapeten AG: Improved Earnings in H1 2018
DGAP-News: A.S. Création Tapeten AG / Key word(s): Half Year
Results/Quarterly / Interim Statement
A.S. Création Tapeten AG: Improved Earnings in H1 2018
02.08.2018 / 08:10
The issuer is solely responsible for the content of this announcement.
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A.S. Création Tapeten AG, Gummersbach
(ISIN DE000A1TNNN5)
Improved Earnings in H1 2018
A.S. Création Tapeten AG, Europe's leading wallpaper manufacturer, today
published the interim report for the period ended June 30, 2018. A summary
is provided below:
Sales revenues not satisfactory
At EUR 72.8 million, A.S. Création's consolidated sales revenues were down
by EUR 2.9 million or 3.9% on the previous year's EUR 75.7 million. In spite
of the successful "Bude 2.0" advertising campaign in Germany, which helped
push domestic revenues up by 4.1%, and the taking into operation of the
Belarus production company, which made the first contributions to the
Group's revenues in the second quarter of 2018, A.S. Création was unable to
increase its global consolidated revenues. One of the main reasons was the
lower demand in the countries of the European Union (excl. Germany), where
A.S. Création's revenues declined by 12.0%. The Managing Board of A.S.
Création is not satisfied with the revenue trend in the current fiscal year
to date.
Improved earnings
A.S. Création has been able to improve its earnings in the current fiscal
year. In the first half of 2018, the Group generated an operating profit of
EUR 0.9 million, compared to a loss of EUR -0.3 million in the same period
of the previous year. Apart from a reduction in other operating expenses and
depreciation, the measures taken last year to reduce personnel expenses made
a major contribution to this EUR 1.2 million improvement in earnings. A
further improvement in the operating result was prevented in the reporting
period by the decline in revenues described above as well as by a sharp
increase in commodity and energy prices.
At EUR -1.3 million (previous year: EUR -1.5 million), the consolidated
financial result also improved slightly in the first half of 2018. The
result posted by the Russian production company, A.S. & Palitra, in which
A.S. Création Tapeten AG holds a 50% stake, has the biggest influence on the
consolidated financial result. Half of A.S. & Palitra's result after taxes
is recognised in A.S. Création's consolidated financial result. Due to
translation-related exchange losses, the joint venture posted a loss in the
first half of 2018, leading to an improved but still negative consolidated
financial result in the reporting period.
The improvement in earnings before interest and taxes and in the financial
result is reflected in increased earnings after taxes. At EUR -1.1 million,
the latter were up by EUR 1.1 million on the previous year's EUR 2.2
million. While this improvement, just like the improvement in EBIT, is
gratifying, the Managing Board had expected earnings to increase more
strongly in H1 2018 based on higher sales revenues. In view of the
unsatisfactory revenue trend, especially in the second quarter of 2018, the
Managing Board now assumes that A.S. Création will probably fail to achieve
the projections for the full year 2018.
The Group's key figures for the first six months of 2018 are summarised
below:
01.01.-30.- 01.01.-30.- Change
06. 06.
2018 2017
Sales revenues EUR 72,756 75,732 - 3.9
'000 %
Earnings before interest and EUR 886 -317 379.3
taxes (EBIT) '000 %
Earnings before taxes EUR -396 -1,768 77.6 %
'000
Earnings after taxes EUR -1,074 -2,238 52.0 %
'000
Earnings per share EUR/sha- -0.39 -0.81 51.9 %
re
Cash-flow from operating EUR -1,894 -2,679 29.3 %
activities '000
Capital expenditures EUR 3,872 2,949 31.3 %
'000
Depreciation EUR 3,079 3,676 - 16.2
'000 %
Number of employees (average) 747 768 - 2.7
%
Gummersbach, August 2, 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 full 6-month 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]
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02.08.2018 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,
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Archive at www.dgap.de
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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
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