25.07.2018
A.S. Création Tapeten AG DE000A1TNNN5
DGAP-Adhoc: A.S. Création Tapeten AG: Business performance in Q2 2018 below expectations
DGAP-Ad-hoc: A.S. Création Tapeten AG / Key word(s): Half Year
Results/Profit Warning
A.S. Création Tapeten AG: Business performance in Q2 2018 below expectations
25-Jul-2018 / 16:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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In the report for the period ended March 31, 2018, the Managing Board
pointed out that the Group's projections for the full year 2018, which
provided for consolidated revenues of between EUR 150 million and EUR 155
million and EBIT (excl. extraordinary effects) of between EUR 4 million and
EUR 5 million as well as earnings after taxes (excl. extraordinary effects)
of between EUR 3 million and EUR 4 million, materially depend on growing
revenues in the coming quarters. The projections are also based on the
assumption that the Russian joint venture, A.S. & Palitra, is clearly
profitable in 2018.
According to the preliminary figures now available for the second quarter of
2018, the expectations of the Managing Board have not been met. Consolidated
revenues declined by 4.9% in the second quarter of 2018, which means that
revenues for the first six months of 2018 dropped by 3.9% from EUR 75.7
million in the previous year to EUR 72.8 million. Compared to the previous
year, EBIT improved noticeably in the second quarter due to the cost-cutting
measures implemented by the Group. Against the background of the above
revenue trend, the improvement in earnings was lower than planned, however.
A.S. Création posts an operating profit of EUR 0.9 million for the first six
months of 2018, compared to an operating loss of EUR -0.3 million in the
same period of the previous year. Adjusted for currency effects of EUR -0.3
million (previous year:
EUR -0.4 million), EBIT amounted to EUR 1.2 million in H1 2018 (previous
year: EUR 0.1 million). The business performance of the Russian joint
venture also fell short of expectations and A.S. & Palitra failed to break
even in the first half of 2018. Overall, A.S. Création generated earnings
after taxes, adjusted for currency effects, of EUR 0.3 million in the first
six months of 2018, compared to an adjusted loss after taxes of EUR -0.8
million in the same period of the previous year. Reported earnings after
taxes including currency effects amounted to EUR -1.1 million in H1 2018
(previous year: EUR -2.2 million).
After discussion and analysis of the available figures, the Managing Board
today concluded that the revenue and earnings projections for the full year
2018 will probably not be reached although earnings improved in the first
half of 2018.
Further details will be disclosed in the interim report for the period ended
June 30, 2018, which is scheduled for publication on August 2, 2018.
Gummersbach, July 25, 2018
A.S. Création Tapeten AG
The Managing Board
Contact:
Maik Krämer
Chairman of the Managing Board
Director of Finance and Controlling
Südstr. 47
D-51645 Gummersbach
Phone +49-2261-542 387
Fax +49-2261-542 304
E-Mail: [email protected]
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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, Tradegate Exchange
End of Announcement DGAP News Service
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707921 25-Jul-2018 CET/CEST
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