A.S. Création Tapeten AG
A.S. Création Tapeten AG: Revenue shortfall weighing on bottom line
DGAP-News: A.S. Création Tapeten AG / Key word(s): Half Year Results/Interim Report A.S. Création Tapeten AG, Gummersbach Revenue shortfall weighing on bottom line A.S. Création Tapeten AG, Europe’s leading wallpaper manufacturer, today published the interim report for the period ended June 30, 2016. A summary is provided below: Sales revenue decline because of difficult environment Earnings still below the prior year level In fiscal 2015, the company’s earnings were significantly affected by several extraordinary effects such as exchange losses and severence payments in conjunction with the concentration of the German production facilities. Consequently, A.S. Création posted a loss in the second half of 2015. Compared to the previous year, the Managing Board believes that A.S. Création is in a much better state for the second half of the current fiscal year, as the cost structures have been optimised in the meantime. From today’s point of view, the Managing Board therefore assumes that A.S. Création will be able to generate profits also in the remaining six months of the fiscal year 2016. A.S. Création’s earnings exceeded the level of the full year 2015 already at the half-year stage 2016. A profit in the second half of 2016 would further improve the company’s earnings compared to the previous year. Earnings forecast for full year 2016 confirmed In keeping with the company’s dividend policy to date, such an improvement in earnings would lead to a higher dividend for the fiscal year 2016. In view of A.S. Création’s excellent financial position as at June 30, 2016, the Managing Board does not see any financial reasons that would speak against a higher dividend. Financial liabilities have been repaid in full, and A.S. Création had a net credit position of EUR 3.7 million as of June 30, 2016. The equity ratio of 63.3% on June 30, 2016 (previous year: 62.5%) additionally underlines the excellent financial position of A.S. Création. The Group’s key figures for the first six months of 2016 are summarised below:
Gummersbach, August 4, 2016 A.S. Création Tapeten AG The Managing Board Inquiries The full 6-month report is available at:
2016-08-04 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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: | investor@as-creation.de | |
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 |