At today's meeting, the Supervisory Board of A.S. Création Tapeten AG approved the consolidated financial statements for the fiscal year ended December 31, 2019, which show sales revenues in the amount of € 141.1 million (previous year: € 134.5 million), earnings before interest and taxes of € 4.5 million (previous year: € -2.9 million) and earnings after taxes of € 14.1 million (previous year: € -6.0 million). Earnings per share amount to € 5.13 (previous year: € -2.17).

In the fiscal year 2019, A.S. Création Tapeten AG sold its 50% stake in the Russian joint venture, OOO A.S. & Palitra, as well as the claims from the shareholder loans. The earnings components attributable to these assets are therefore shown separately as net income from discontinued operations. Accordingly, earnings after taxes for the fiscal year 2019 in the amount of € 14.1 million comprise earnings after taxes from continuing operations in the amount of € 2.4 million and earnings after taxes from discontinued operations in the amount of € 11.7 million. Of the earnings per share of € 5.13, € 0.88 is attributable to continuing operations and € 4.25 to discontinued operations.

Since 2003, A.S. Création's dividend policy has been characterised by a payout ratio of approx. 45% of earnings per share. Unlike the fiscal year 2019, earnings per share in previous years were not affected by extraordinary income from the sale of operations. In this sense, the fiscal year 2019 is also a special year in terms of dividend policy. The Managing Board and the Supervisory Board are of the opinion that cash flows from the sale of operations should primarily be used for investments aimed at strengthening and expanding the remaining business segments or building up new ones. Based on the medium-term earnings, investment and financial planning of A.S. Création, the Managing Board and the Supervisory Board expect a higher investment volume in the coming fiscal years. In the opinion of the Managing Board and the Supervisory Board, it is not possible to reliably predict and quantify the effects of the current corona crisis on A.S. Création's financial and earnings position. The Managing Board and the Supervisory Board believe that, in a situation like this, it is advisable to leave a higher proportion of the profit in the company than in the past. Accordingly, the Managing Board and Supervisory Board propose to pay a dividend of € 0.90 per share, which corresponds to a payout ratio of 17.5% of earnings per share of € 5.13. The total distribution would thus amount to € 2.5 million. This profit appropriation proposal for the fiscal year 2019 was approved by the Managing Board and the Supervisory Board today.

The consolidated financial statements for the period ended December 31, 2019 and further details are scheduled for publication on April 2, 2020.

The Managing Board and Supervisory Board also decided to postpone the Annual General Meeting of Shareholders originally convened for May 14, 2020. At the present time, it is impossible to predict whether official permission will be given for holding the Annual General Meeting of Shareholders on that date. The Managing Board will convene the Annual General Meeting of Shareholders as soon as there is planning certainty in this regard.

Gummersbach, March 19, 2020

A.S. Création Tapeten AG

The Managing Board

Contact:
Maik Krämer
Director of Finance and Controlling
Südstr. 47
D-51645 Gummersbach
Phone +49-2261-542 387
Fax +49-2261-542 304
E-Mail: [email protected]