Snowbird AG
Snowbird AG: Snowbird AG reports results for the first nine months of 2014 – Double digit sales growth in all product segments – Gross margin at a high level of 36.8% – Conference call (in English) today at 10:30am CET
DGAP-News: Snowbird AG / Key word(s): 9-month figures/Interim Report 18.11.2014 / 08:00 --------------------------------------------------------------------- Snowbird AG reports results for the first nine months of 2014 - Double digit sales growth in all product segments - Gross margin at a high level of 36.8% - Conference call (in English) today at 10:30am CET Hamburg, 18 November 2014 - Snowbird AG (ISIN: DE000A1PHEL8, Ticker Symbol: 8S9), listed on Frankfurt Stock Exchange since 29 September 2014, today announced its financial results for the nine months ending 30 September 2014. Group sales revenues increased 37.2% to EUR 125.9 million (9-months 2013: EUR 91.8 million). All products have recorded double digit growth rate as a result of increased marketing effort and strong customer demand. Earnings before taxes (EBT) amounted to EUR 33.6 million (9-months 2013: EUR 25.7 million). Net cash inflow from operations for the first nine months was EUR 15.0 million (9-months 2013: EUR 5.1 million). On 30 September 2014, Snowbird's cash and cash equivalents amounted to EUR 39.8 million (31 December 2013: EUR 16.8 million). The Company's equity amounted to EUR 107.1 million, compared to EUR 67.6 million on 31 December 2013. This results in an equity ratio of 72.4% (31 December 2013: 66,7%). The number of shares issued at 30 September 2014 was 31,583,334. Highlights of the Third Quarter 2014 Continuing construction of the new and modern sewing plant with a production capacity of 6.3 million pieces per year. Start of operations expected by end of 2014. Initial Public Offering (IPO) in the Prime Standard segment of the Frankfurt Stock exchange on 29 September 2014. "Beside growing our group sales revenues at continuing high margins, the successful IPO in Frankfurt was the most important event in the third quarter", commented Changzai Yan, Chief Executive Officer of Snowbird AG. "With the IPO we have increased the awareness for our products in Asia and simultaneously have created a sound basis for new sales possibilities in Europe." Third Quarter of 2014 (IFRS) In the third quarter of 2014, the Company generated revenues in the amount of EUR 47.8 million, compared to EUR 46.1 million in the same quarter of 2013. Earnings before Tax (EBT) amounted to EUR 12.3 million (Q3 2013: EUR 12.5 million). Due to the seasonality of the business model almost 2/3 of the annual sales revenues are generated in the second half of the financial year. Snowbird will hold a conference call today at 10:30 am CET to present the Q3 Results 2014 and report on current developments. Dial-in number for the conference call (in English, listen-only): Germany: +49 (0) 69 7104 45516 Please dial in five minutes before the beginning of the conference. The complete Q3 Interim Report 2014 (January - September) is available on our website www.snowbird-ag.com (PDF-file) Upcoming Event The Snowbird Management will hold an investors presentation at the German Equity Forum in Frankfurt on Wednesday 26 November starting 09.30am. Investors and interested parties attending the conference are highly welcome to join the presentation. Please feel free to contact our investor relations partner to organize a one-to-one meeting at the conference. 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: ir@snowbird-ag.com 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. No offer or sale of transferable securities is being made to the public outside Germany and Luxembourg. The offer in Germany and Luxembourg was made exclusively by means of and on the basis of a prospectus published on the company's website www.snowbird-ag.com and available free of charge at CM-Equity AG, Munich. --------------------------------------------------------------------- 18.11.2014 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 --------------------------------------------------------------------- Language: English Company: Snowbird AG c/o HRG Hansische Revisions-Gesellschaft mbH, Ferdinandstr. 25 20095 Hamburg Germany Phone: +49 89 139 28890 E-mail: ir@snowbird-ag.com Internet: www.snowbird-ag.com/de ISIN: DE000A1PHEL8 WKN: A1PHEL Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin - Tradegate Exchange, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 297684 18.11.2014
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