A.S. Création Tapeten AG, DE000A1TNNN5

A.S. Création Tapeten AG, DE000A1TNNN5

04.05.2017 - 16:52:15

A.S. Création Tapeten AG: Annual General Meeting of Shareholders decides dividend of EUR 1.25 for 2016. Modest start to the new year.

A.S. Création Tapeten AG, Gummersbach (ISIN DE000A1TNNN5)Annual General Meeting of Shareholders decides dividend of EUR 1.25 for 2016. Modest start to the new year. At today's Annual General Meeting of Shareholders in Gummersbach, A.S. Création Tapeten AG, Europe's leading wallpaper manufacturer, presented the consolidated financial statements for 2016. The AGM thanked all employees of A.S. Création for their commitment in the past fiscal year. The Managing Board and the Supervisory Board were released from liability by a large majority of the shareholders. It was decided to pay out a dividend of EUR 1.25 per share from the profit for the year 2016 (previous year: EUR 0.60 per share). A.S. Création thus confirms its reputation as a high dividend paying company.

The interim report for the period ended March 31, 2017 was also presented at the AGM. At EUR 41.7 million, Group revenues were down by 6.6% on the previous year's EUR 44.7 million. Compared to the fiscal year 2016, when A.S. Création recorded an 8.4% drop in revenues, the decline in Q1 2017 was more moderate. The Managing Board is of the opinion that A.S. Création has developed a good product range over the past months which has been very well accepted by the customers.

In Q1 2017, the gross profit margin was adversely affected by rising commodity and energy prices as well as by fierce price competition on the sales side. In conjunction with the low sales revenues, this sent earnings before interest and taxes falling by as much as EUR 2.4 million or 54.3% from EUR 4.5 million in Q1 2016 to EUR 2.1 million in the reporting period. Earnings after taxes amounted to EUR 1.9 million in the first three months of 2017 (previous year: EUR 3.9 million) or EUR 0.69 (previous year: EUR 1.41) per share. This modest start to the year 2017 had been projected in the plans and budgets for 2017, as the Managing Board expects the environment in which A.S. Création operates to remain difficult.

In spite of several imponderables, the Managing Board of A.S. Création maintains the Group's projections for the full year 2017, which provide for sales revenues of between EUR 155 million and EUR 160 million and an operating result of between EUR 3 million and EUR 4 million, barring any significant burdens from the antitrust proceedings and exchange losses.

The Group's key figures for the first three months of 2017 are summarised below:

    01.01.-31.03. 01.01.-31.03. Change     2017 2016   Sales revenues EUR '000 41,720 44,651 - 6.6% Earnings before interest and taxes (EBIT) EUR '000 2,068 4,528 - 54.3% Earnings before taxes EUR '000 2,651 5,506 - 51.9% Earnings after taxes EUR '000 1,914 3,884 - 50.7% Earnings per share EUR/share 0.69 1.41 - 51.1% Cash flow EUR '000 3,166 4,806 - 34.1% Capital expenditures EUR '000 792 1,292 - 38.7% Depreciation EUR '000 1,857 1,947 - 4.6% Number of employees (average)   757 770 - 1.7%  

Gummersbach, May 4, 2017

A.S. Création Tapeten AG

The Managing Board

Inquiries: Maik Krämer, Director of Finance and Controlling, phone +49-(0)22 61/542-387, fax +49-(0)22 61/542-304, e-mail m.kraemer@as-creation.de

The full 3-month report is available at: www.as-creation.de or from: A.S. Création Tapeten AG, Frau Börngen, Südstr. 47, D - 51645 Gummersbach, phone +49-(0)22 61/542-350, e-mail investor@as-creation.de

04.05.2017 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. Archive at www.dgap.de

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

570289  04.05.2017 

@ dgap.de

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