DGAP-News: A.S. Création Tapeten AG / Key word(s): Final Results A.S. Création Tapeten AG: 2013 a disappointing year on balance 20.03.2014 / 09:50 --------------------------------------------------------------------- A.S. Création Tapeten AG, Gummersbach (ISIN DE000A1TNNN5) 2013 a disappointing year on balance Sales revenues reach about EUR 200 million A.S. Création achieved marginal revenue growth of 0.5% from EUR 198.9 million to EUR 199.8 million in the fiscal year 2013. A higher growth rate was prevented by the 6.3% decline in A.S. Création's domestic sales revenues in December 2013. The German wallpaper market was not least affected by the bankruptcy of the Praktiker and Max Bahr DIY store chains. While sales revenues in foreign markets increased by 4.2%, the Managing Board had expected much stronger growth, primarily in Russia. Total sales revenues fell clearly short of the company's high expectations, according to which sales revenues for the fiscal year 2013 had been projected to amount to between EUR 210 million and EUR 220 million. The company is therefore not satisfied with its sales revenues. One-time effects weighing on bottom line A.S. Création's earnings deteriorated in 2013. At EUR 5.2 million, earnings before taxes were down by 61.4% on the previous year's EUR 13.6 million. Adverse factors included increased price competition and higher personnel expenses as a percentage of sales. In addition, higher-than-expected start-up and exchange losses at the Russian distribution company and the Russian wallpaper factory, in which A.S. Création holds 50%, weighed on the bottom line. Also, the company established a provision of EUR 2.0 million in 2013 in conjunction with the pending anti-trust proceedings in Germany. Given that this provision and the pro-rated losses of the Russian joint venture are not tax deductible, net profit declined much more strongly than earnings before taxes. At EUR 1.3 million, net profit was down by 85.1% on the previous year's EUR 8.9 million. This means that the company clearly missed its earnings projections, according to which net profit had been expected to come in at between EUR 9 million and EUR 11 million. Excellent financial position In spite of lower earnings, net financial liabilities were reduced further in the difficult fiscal year 2013 and amounted to EUR 20.3 million on December 31, 2013, down EUR 0.8 million on the previous year's EUR 21.1 million. At 58.8%, the equity ratio exceeded the previous year's high level of 58.6%. 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 A.S. Création's dividend policy is characterised by a high payout ratio. The fixed payout ratio means that the absolute amounts of the dividend payments are not smoothened over time but increase or decrease in line with earnings. In keeping with the dividend policy of the past, it will be proposed to the Annual General Meeting of Shareholders to pay out a dividend of EUR 0.25 per share (previous year: EUR 1.20). Based on earnings per share, this dividend represents a payout ratio of 52.1% (previous year: 44.9%). Outlook on 2014 subject to high uncertainty The deterioration in the company's earnings in 2013 is attributable, among other things, to the start-up and exchange losses in Russia. Accordingly, a special focus will be placed on A.S. Création's Russian activities in 2014. However the economic trend in Russia and the exchange rate trend of the Russian rouble are virtually impossible to predict at present. The Managing Board projects consolidated sales revenues of between EUR 205 million and EUR 215 million for 2014. In view of the high uncertainty regarding the factors that will influence the company's earnings in 2014, the Managing Board intends to issue a precise earnings forecast for the fiscal year 2014 later in the year. The Group's key figures for the fiscal year 2013 are summarised below:

                                                     2012  2013   Change

Sales                                         EUR m 198.9 199.8    0.5 %
Earnings before interest and taxes (EBIT)     EUR m  15.8  10.2 - 35.1 %
Earnings before taxes                         EUR m  13.6   5.2 - 61.4 %
Net profit                                    EUR m   8.9   1.3 - 85.1 %
Earnings per share                        EUR/share  3.22  0.48 - 85.1 %
Cash flow                                     EUR m  19.3  16.4 - 15.0 %
Capital expenditures                          EUR m  13.1   8.7 - 33.7 %
Depreciation                                  EUR m   9.8   9.5  - 3.5 %
Number of employees (average)                         820   837    2.1 %

Gummersbach, March 20, 2014 A.S. Création Tapeten AG The Managing Board Inquiries: Maik Krämer, Director of Finance and Controlling, phone +49-(0)2261/542-387, fax +49-(0)22 61/542-304, e-mail [email protected] The 2013 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] End of Corporate News --------------------------------------------------------------------- 20.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 258462 20.03.2014