Xin Rui Ke (China) AG
CWZ China Flowers AG publishes 2014 half-year results
CWZ China Flowers AG / Key word(s): Half Year Results Corporate News of September 30, 2014 CWZ China Flowers AG publishes 2014 half-year results Cologne, September 30, 2014: CWZ China Flowers AG (German Securities Identification Number (WKN): A1X3YJ1; ISIN: DE000A1X3YJ1; ticker symbol: C9R) has published its business results for the first half of Financial Year 2014 in accordance with IFRS. In the first half of Financial Year 2014, revenue of CWZ China Flowers AG increased by KEUR 195, or 5.1%, from KEUR 3,805 to KEUR 4,000. Gross profit decreased from KEUR 2,862 to KEUR 2,760 due to a rise in cost of sales. Cost of sales includes commission fees, delivery costs, as well as material costs for packaging and distribution of the flower and plant products. Correspondingly, gross margin was 69.0% (1st half-year 2013: 75.2%). Taking into account the remeasurement of biological assets related to the horticultural activities at fair value, gross profit including valuation adjustments decreased from 104.4% to 77.0%. Profit from operations (EBIT) was KEUR 3,094 (1st half 2013: KEUR 4,181). Accordingly, the Company reports a profit for the period in the amount of KEUR 2,686 (1st half 2013: KEUR 3,737). Taking into account foreign currency translation differences, total income for the reporting period came to KEUR 2,741 (1st half 2013: KEUR 4,100). “The 2014 half-year results do not yet reflect the Company’s IPO on August 25, 2014. For the Financial Year as a whole, we expect the Company’s revenue to increase significantly, to approximately KEUR 16,000, resulting from the expansion of the businesses of individual associated companies. At the same time, we expect a gross margin of 69% for the year 2014”, said Yuchang Xiao, CEO of CWZ China Flowers AG. The 2014 half-year report of CWZ China Flowers AG is now available for download at www.cwzflower.com, Investor Relations section. Corporate contacts Investor relations contacts About CWZ China Flowers AG 30.09.2014 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 |
289620 30.09.2014 |