A.S. Création Tapeten AG: Earnings forecast for FY 2019 upgraded
In the interim report for the period ended June 30, 2019, the Managing Board had confirmed the expectations communicated for the fiscal year 2019. According to these expectations, consolidated revenues would amount to between EUR 135 million and EUR 140 million, with EBIT coming in at between EUR 1 million and EUR 2 million; these figures did not include any extraordinary effects such as exchange gains or losses. In the fourth quarter of 2019, the sale of the 50% stake in Aspect Ru (formerly A.S. & Palitra) will be concluded, which will have a positive one-time effect on consolidated earnings after taxes. In view of this positive effect, the previous plans and budgets for the full year 2019 had projected very high consolidated earnings after taxes of between EUR 10 million and EUR 11 million.
According to the figures now available for the third quarter of 2019, the positive performance of the first six months has continued. A.S. Création was able to increase its consolidated revenues by 5.5% to EUR 108.3 million in the first nine months of 2019 (previous year: EUR 102.7 million). Against the background of these positive developments, the Managing Board expects consolidated sales revenues for the full year 2019 to come in at the upper end of the planned range of EUR 135 million to EUR 140 million.
For the first nine months of 2019, A.S. Création posted an operating profit (EBIT) of EUR 4.2 million (previous year: operating loss of EUR -2.0 million). Adjusted for currency effects, EBIT rose by EUR 3.9 million and improved significantly from a loss of EUR -1.0 million in the first nine months of 2018 to a profit of EUR 2.9 million in the reporting period. Although an operating loss cannot be ruled out in the seasonally weak fourth quarter, the Managing Board of A.S. Création now projects EBIT adjusted for extraordinary effects of between EUR 2 million and EUR 3 million for the full year 2019. Consequently, the Managing Board today decided to upgrade the EBIT forecast accordingly.
Because of the upward revision of the EBIT forecast, consolidated earnings after taxes in the fiscal year 2019 are also expected to be higher than originally assumed, at between EUR 11 million and EUR 12 million, from today's point of view.
Further details will be provided in the interim report for the period ended September 30, 2019, which is scheduled for publication on November 7, 2019.
Gummersbach, November 5, 2019
A.S. Création Tapeten AG
The Managing BoardContact: Maik Krämer Director of Finance and Controlling Südstr. 47 D-51645 Gummersbach Phone +49-2261-542 387 Fax +49-2261-542 304 E-Mail: firstname.lastname@example.org
05-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: 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: email@example.com 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 EQS News ID: 904891 End of Announcement DGAP News Service
904891 05-Nov-2019 CET/CEST