DGAP-News: Snowbird AG / Key word(s): Quarter Results/Dividend Snowbird AG reports results for Q1/2015 - Double digit sales growth and increasing profitability 28.05.2015 / 16:36 --------------------------------------------------------------------- Snowbird AG reports results for Q1/2015 - Double digit sales growth and increasing profitability Hamburg, 28 May 2015 - Snowbird AG (ISIN: DE000A1PHEL8, Ticker Symbol: 8S9), listed on the Frankfurt Stock Exchange since 29 September 2014, today announced its financial results for the first quarter 2015 ending 31 March. Group sales revenues increased by 38.0% to EUR 34.0 million (Q1/2014: EUR 24.6 million). In Q1/2015 down clothing saw the highest increase in quarterly sales from EUR 1.6 million in Q1/2014 to EUR 9.8 million in Q1/2015. Down sales in Q1/2015 remained on previous year's level at EUR 16.6 million. The Group's gross profit for Q1/2015 increased by 76.6% to EUR 13.0 million. Also the gross margin saw a strong increase to 34.3% from 29.8% in Q1/2014. Profit after tax is EUR 8.2 million (Q1/2014: 4.1 million) and has therefore doubled in Q1/2015 compared to the corresponding period. Net cash inflow for operating activities for Q1/2015 was EUR 2.7 million due to the payment of sales related bonuses for distribution partners for 2014. On 31 March 2015, Snowbird's cash and cash equivalents amounted to EUR 64.0 million (31 December 2014: EUR 56.7 million). End of March 2015 the Company's equity amounted to EUR 150.8 million, compared to EUR 126.8 million on 31 December 2014. This results in an equity to asset ratio of 81.5% (31 December 2014: 72.2%). The number of shares issued at 31 March 2015 was 31,583,334. Highlights of Q1/2015 - Finishing construction and starting operations of the new and modern sewing plant with a current production capacity of additional 2.5 million pieces per year. - Start of operations in the new headquarters next to the production facility hosting sales and administration departments as well as Research & Development. Annual General Meeting - first dividend payment The Annual General Meeting is scheduled to take place on 20 July 2015 in Munich. The company proposes to pay EUR 0.25 per share as a dividend to the freefloat shareholders. Outlook "Our investments in production and sales show the first positive effects on sales revenue and profit", commented Changzai Yan, Chief Executive Officer of Snowbird AG. "China still is our main market, however, we will continue our efforts to further expand our markets domestically and internationally. Besides we will further optimize our added value and production efficiency as well as continuously drive innovations." Service The Quarterly Report Q1/2015 (January - March) is available for download on our website www.snowbird-ag.com section News&Reports (PDF-file). End of press release Snowbird AG - one of largest down processing companies worldwide Snowbird is one of the world's leading down processors and known for high quality down-filled textiles and for down bedding, down duvets and down pillows. With its new state of the art production facility, located in China, Henan Province, the company is able to process down at highest quality standards in a sustainable and environmental friendly way. Snowbird operates very profitable along the value chain from down processing to down clothing and down bedding production. Products are sold under the brands "Snowbird" or "Xueniao" or produced as white label based on orders from third parties. Investor Relations Contact Please direct all your requests to: max. Equity Marketing GmbH, Maximilian Fischer, Marienplatz 2, 80331 Munich, Germany Tel: +49 89 139 28890 E-Mail: [email protected] IMPORTANT NOTE - Disclaimer This publication constitutes neither an offer to sell nor an invitation to buy securities. The shares in Snowbird AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")). Furthermore, the shares may not be offered or sold in Japan or to or for the account or benefit of Japanese citizens. --------------------------------------------------------------------- 28.05.2015 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. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Snowbird AG c/o HRG Hansische Revisions-Gesellschaft mbH, Ferdinandstr. 25 20095 Hamburg Germany Phone: +49 89 139 28890 E-mail: [email protected] Internet: www.snowbird-ag.com/de ISIN: DE000A1PHEL8 WKN: A1PHEL Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News-Service --------------------------------------------------------------------- 362833 28.05.2015