DGAP-News: A.S. Création Tapeten AG / Key word(s): Final Results A.S. Création Tapeten AG: Earnings improve in spite of revenue shortfall 17.03.2016 / 09:50 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- A.S. Création Tapeten AG, Gummersbach (ISIN DE000A1TNNN5) Earnings improve in spite of revenue shortfall Sales revenues decline in all regions A.S. Création's sales revenues declined by EUR 22.6 million or 12.0% from EUR 189.1 million in the previous year to EUR 166.5 million in the past financial year. As in the previous year, A.S. Création recorded the strongest reduction in sales revenues in non-EU Eastern European countries, where gross revenues were down by 43.5% on the previous year. Besides the poor economic situation in this region, the depreciation of the local currencies against the euro was one of the main reasons for this slump in revenues. It made German-made wallpapers much more expensive than those produced by local competitors, which led to a decline in wallpaper exports, especially to Russia, Belarus and Ukraine. Wallpaper markets in the EU, where A.S. Création generates over 80% of its revenues, failed to stimulate growth that would have offset this reduction in sales revenues. Right on the contrary, sales revenues in the EU were also below the prior year level. Greatly improved earnings position A.S. Création posted earnings before taxes of EUR 5.6 million for the fiscal year 2015, compared to a loss before taxes of EUR -5.1 million in the previous year. This shows that the earnings position of A.S. Création improved significantly, which is not least attributable to the advance in the gross profit margin from 50.1% in the previous year to 53.3% in the fiscal year 2015, as A.S. Création benefited not only from optimised production processes but also from declining commodity and energy prices. The fact that the Russian production company turned around in 2015 also had a positive effect on A.S. Création's consolidated results. Besides these operational improvements, A.S. Création also benefited from the fact that the year 2014 was more strongly affected by extraordinary factors such as exchange losses than the past financial year. On balance, the notable improvement in earnings projected for the fiscal year 2015 in last year's forecast was achieved. Excellent financial position Net financial liabilities, which had amounted to EUR 11.9 million as of December 31, 2014, were repaid in full in the course of the financial year 2015. At 66.4%, the equity ratio exceeded the previous year's high level of 59.4%. The Managing Board is of the opinion that the financial position of A.S. Création is very solid and will allow the company to continue its growth strategy in spite of the uncertain environment. Consistent dividend policy - dividend of EUR 0.60 Given that A.S. Création's dividend policy provides for a high payout ratio as long as this is permitted by the company's financial situation, no dividend was paid in the previous year due to the loss posted by the company. With A.S. Création's earnings position having improved notably in the financial year 2015 - as reflected in earnings after taxes of EUR 3.3 million and earnings per share of EUR 1.19 - a dividend of EUR 0.60 per share will be proposed to the General Annual Meeting of Shareholders. In relation to earnings per share, this is equivalent to a payout ratio of approx. 50%. Outlook on 2016 subject to great uncertainty The Managing Board projects consolidated sales revenues of between EUR 160 million and EUR 170 million for 2016. In view of the extreme uncertainty regarding the factors that will influence earnings in 2016, the Managing Board refrains from issuing a precise earnings forecast for the financial year 2016. Nevertheless, the Managing Board expects earnings after taxes in 2016 to clearly exceed the previous year's EUR 3.3 million. The Managing Board intends to publish a forecast of the results for the financial year 2016 in the further course of the year. The Group's key figures for the fiscal year 2015 are summarised below:

                                                     2015   2014   Change

Sales                                         EUR m 166.5  189.1 - 12.0 %
Earnings before interest and taxes (EBIT)     EUR m   7.9    3.3  139.4 %
Earnings before income taxes                  EUR m   5.6  - 5.1     n.a.
Earnings after income taxes                   EUR m   3.3  - 9.3     n.a.
Earnings per share                        EUR/share  1.19 - 3.39     n.a.
Cash flow                                     EUR m  13.5    6.1  121.3 %
Capital expenditures                          EUR m   5.3    5.1    3.9 %
Depreciation                                  EUR m   8.6    9.3  - 7.5 %
Number of employees (average)                         801    822  - 2.6 %

Gummersbach, March 17, 2016 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: [email protected] The 2015 Annual 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: [email protected] --------------------------------------------------------------------------- 17.03.2016 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: 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 protected] 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 End of News DGAP News Service --------------------------------------------------------------------------- 445787 17.03.2016