DGAP-News: Joyou AG / Key word(s): Preliminary Results Joyou AG: International sales drive diversified growth in 2013 10.03.2014 / 08:20 --------------------------------------------------------------------- Preliminary Results 2013 Joyou AG: International sales drive diversified growth in 2013 * Sales revenues increased to 357.8 million Euros representing a growth of 8.6 per cent compared to 2012 * EBIT grew from 50.8 million Euros to 53.2 million Euros corresponding to an EBIT margin of 14.9 per cent Hamburg, March 10, 2014. Joyou AG, a leading bathroom solution supplier in China, continued along its growth path in 2013. With sales of 90.3 million Euros in the fourth quarter 2013, full year group sales revenues went up by 8.6 per cent to 357.8 million Euros (2012: 329.6 million Euros) or 9.0 per cent in RMB terms. The main growth driver was international sales supported by strong sales in the domestic markets in China. "Our success in the international sales is a result of the collaborative efforts with the Grohe Group as well as new customers we gained in the last two years", says Jianshe Cai, CEO and Chairman of Joyou's Management Board. "After the acquisition of our parent Grohe Group S.à r.l. by the LIXIL Corporation, Japan's largest company for building materials and housing equipment, we see further growth opportunities ¬- last but not least because of the wide distribution network in Asia and abroad." Along with the positive sales development, Joyou AG improved the operating profit (EBIT) which grew at a rate of 4.6 per cent to 53.2 million Euros according to the preliminary calculations for the financial year 2013. EBIT was impacted by start-up expenses for the international business. The annual report 2013 of Joyou AG will be published on March 31, 2014 and will be available on the website at www.joyou.com. About Joyou Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces and mainly sells products for the entire bathroom solution in China under its brand name "Joyou" and is also engaged as a OEM/ODM-manufacturer for international brands and trading companies in the United States and Europe as well as other emerging markets, as well as Joyou branded international sales. In 2012 Joyou was one of the leading single-brand manufacturers of bathroom, and other faucets in China in terms of revenues (according to BSRIA's China Bathroom Study 2013). Joyou has established an extensive distribution network in China with over 4,100 franchised retail stores as of 31 December 2013. Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian Province in China. Joyou mainly sells under its own brand name and has the following nine product groups in its business portfolio: Bathroom Faucets, Kitchen Products, Shower Products, Ceramics and Bathtubs, Bathroom Cabinets, Bathroom Accessories, Other Faucets and Sanitary Hardware, Copper and Semi-Finished Components, Grohe Products. In 2012, Joyou realised group revenues of 329.6 million Euros, an operating profit (EBIT) of 50.8 million Euros and a net profit of 39.8 million Euros. For further information, please contact: Joyou AG Gasstraße 18, Haus 6A 22761 Hamburg Ian M. Oades, tel.: +86-595-8618 8887, [email protected] Kirchhoff Consult AG Jens Hecht, tel.: +49 40 60 91 86 0, [email protected] or visit the company website at: http://www.joyou.com Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts instead they reflect Joyou'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 Joyou's forward-looking statements are proving to be incorrect, Joyou's actual results may be materially different from those expressed or implied by such forward-looking statements. Joyou 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 --------------------------------------------------------------------- 10.03.2014 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: Joyou AG Gasstraße 18, Haus 6 A 22761 Hamburg Germany E-mail: [email protected],[email protected] Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 256528 10.03.2014