Asian Bamboo reports solid Q1-Q3 results

DJ DGAP-Adhoc: Asian Bamboo reports solid Q1-Q3 results Asian Bamboo AG / Key word(s): Quarter Results

11.11.2011 06:34

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement.

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Hamburg, 11 November 2011 - Asian Bamboo AG ('Asian Bamboo ', the 'Company', ISIN: DE000A0M6M79, ticker symbol '5AB', ADR trading symbol 'ASIBY'), a leading integrated company in the bamboo industry, is pleased to announce that, despite the current macro-economic challenges, it has achieved a solid Q1-Q3 performance with the following financial highlights (percentage numbers are year-on-year comparisons):

* Revenue increased 28% to EUR 71.4 million (Q1-Q3 2010: EUR 55.7 million) * Net profit increased 23% to EUR 27.6 million (Q1-Q3 2010 Restated: EUR 22.4 million), equivalent to a net profit margin of 39% (Q1-Q3 2010 Restated: 40%) * Cash and cash equivalents were EUR 39.9 million (31 December 2010: EUR 56.7 million)

For the rest of the year, the outlook for the Company remains challenging as the weakness in demand for bamboo trees and bamboo fibre is expected to persist for some time. In FY 2011, the Management Board expects the Company to achieve revenue of at least EUR 95 million and a net profit margin of at least 40%.

In this context, the Management Board wishes to state that the use of fair value accounting, as compared to using the cost method, leads to fluctuations in the net profit which are larger than actual changes in revenue and costs, excluding the impact of fair value accounting.

The Management Board and Supervisory Board will propose a final dividend of at least EUR 40 cents per share to be confirmed by the AGM. The dividend, once confirmed, will be paid on the first working day following the AGM.

For enquiries, please contact:
Asian Bamboo AG:

Peter Sjovall +852-9385 3868 Chief Financial Officer peter.sjovall@asian-bamboo.com

Anja Holst +49-(0)40 37644 798 Investor Relations Director anja.holst@asian-bamboo.com

11.11.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English Company: Asian Bamboo AG Stadthausbrücke 1-3 20355 Hamburg Germany Phone: +49 40 37644 798 Fax: +49 40 37644 500 E-mail: info@asian-bamboo.de Internet: www.asian-bamboo.de ISIN: DE000A0M6M79, DE000A0M6M79 WKN: A0M6M7, A0M6M7 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service
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(END) Dow Jones Newswires November 11, 2011 00:34 ET (05:34 GMT)