A.S. Création Tapeten AG / Key word(s): Profit Warning 16.12.2014 11:05 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The FY 2014 guidance provided by the Managing Board of A.S. Création originally anticipated a net profit above the prior year level of EUR 1.3 million. This forecast, which was most recently confirmed on November 10, 2014 as part of the publication of the interim report for the period ended September 30, 2014, was subject to the provisos that there would be no complete slump in the Russian rouble and/or wallpaper exports to eastern Europe and that the cartel proceedings would not entail any significant burdens over and beyond the amount of EUR 2 million already provisioned for. At that time the exchange rate of the Russian rouble stood at approximately 57 RUB/EUR. Noting the dramatic slide in the exchange rate of the Russian currency in recent days, the company now anticipates incurring a clear loss for the financial year 2014 at Group level. The depreciation in the Russian rouble has dramatically accelerated since the end of November 2014, when the exchange rate stood at approximately 57 RUB/EUR. The currency pair has meanwhile reached a level of approximately 80 RUB/EUR. The Russian central bank's attempts to halt the depreciation through interventions in the markets have so far been unsuccessful. Seeing that the central bank's most recent measure, its rate rise of December 11, 2014, has failed to show an effect, the Managing Board now assumes that the exchange rate will not recover by year-end 2014. This would mean that one of the provisos underlying the above mentioned profit guidance would no longer hold. Given that the two Russian member companies of the Group are predominantly funded by euro-denominated loans, A.S. Création's 2014 Group accounts are expected to show considerable exchange rate-related currency translation losses. At this time these currency translation losses will not have a liquidity effect. Based on the assumption that the exchange rate of the Russian rouble will largely remain unchanged by year-end, the Managing Board anticipates reporting a net annual loss in the mid- to high single-digit million range for the full financial year 2014. The figures for the financial year 2014 are scheduled to be published on March 25, 2015. Gummersbach, December 16, 2014 A.S. Création Tapeten AG The Managing Board Inquiries: Maik Krämer, Director of Finance and Controlling Südstr. 47 D-51645 Gummersbach Phone: +49-2261-542 387 Fax: +49-2261-542 304 E-mail: [email protected] 16.12.2014 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: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------