16.03.2015
A.S. Création Tapeten AG DE000A1TNNN5
DGAP-Adhoc: A.S. Création Tapeten AG: No dividend for the fiscal year 2014
A.S. Création Tapeten AG / Key word(s): Dividend
16.03.2015 15:08
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.
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A proposal will be made to the Annual General Meeting of Shareholders of
A.S. Création Tapeten AG, which is scheduled for May 7, 2015, not to pay
out a dividend for the fiscal year 2014. The Supervisory Board approved the
corresponding profit appropriation proposal by the Managing Board at
today's meeting.
This decision was taken against the background of the fact that A.S.
Création posted a net loss after taxes of EUR -9.3 million for the fiscal
year 2014, whereas a consolidated net profit after taxes of EUR 1.3 million
had been recorded in the previous year. The poorer earnings position is
due, among other things, to exchange losses of EUR 10.4 million and the
penalties of EUR 5.0 million imposed on member companies of the A.S.
Création Group by the French antitrust authorities. A.S. Création reported
on these adverse effects on earnings in two ad-hoc announcements dated
December 16, 2014 and December 23, 2014. At EUR -9.3 million, the
consolidated net loss for the fiscal year 2014 lies within the mid to high
single-digit million range announced by the Managing Board in December
2014. Publication of the consolidated financial statements for the period
ended December 31, 2014 including further details is scheduled for March
25, 2015.
The above profit appropriation proposal by the Managing Board and the
Supervisory Board is in keeping with the dividend policy pursued and
communicated by A.S. Création for many years. This policy provides for a
high payout ratio as long as this is warranted by the company's financial
situation. Consequently, the loss posted by the company for the fiscal year
2014 is reflected in a cancellation of the dividend. Although this means
that no dividend would be paid for the first time since the 1998 IPO, the
Managing Board and the Supervisory Board are convinced that this approach
is in the long-term, sustainable interest of the company and, hence, of its
shareholders.
Gummersbach, March 16, 2015
A.S. Création Tapeten AG
The Managing Board
Inquiries:
Maik Krämer, Director of Finance and Controlling
Suedstr. 47
D-51645 Gummersbach
Phone: +49-2261-542 387
Fax: +49-2261-542 304
E-mail: [email protected]
16.03.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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
End of Announcement DGAP News-Service
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