DGAP-News: Weng Fine Art AG / Key word(s): Forecast Weng Fine Art AG returns to Growth Path in 2015 - Positive Outlook for 2016 18.04.2016 / 08:45 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE | 18 APRIL 2016 Weng Fine Art AG returns to Growth Path in 2015 - Positive Outlook for 2016 Weng Fine Art AG returned to a growth path in the short fiscal year 2015 (01.02. - 31.12.). Based on preliminary figures, consolidated sales amounted to about EUR 6.2 million (previous year EUR 5.5 million). Compared to the 2014/15 financial year (01.02.2014 - 31.01.2015), the art trading Company operating now from Monheim am Rhein has thus achieved a total growth of about 13% - in contrary to the general trend on the art market (-8%). Compared to the same time period last year (01.02. - 31.12.2014), sales growth amounted to ca. 25%. Because margins have risen in parallel, the profits have increased considerably more - income figures are expected to be published by the Company in late June. The main sales drivers in the short fiscal year 2015 were the newly structured trading business and the successful start-up of the e-commerce platform "Weng Contemporary" focussing on art multiples. From the portfolio deals reported in autumn 2015, revenues of around 290,000 euros were recorded in the 4th quarter; the rest of the portfolio sales will be accounted for during this year (and possibly 2017). For 2016, Weng Fine Art AG anticipates even greater growth in sales and earnings than in 2015, although the sentiment has deteriorated in the art market since the fall of 2015. Depending on the settlement of some portfolio transactions, sales for the Group over the 2016 financial year are expected to range from 7.5 to 10.0 million EUR with a pre-tax profit of between EUR 1.0 and 2.0 million. ABOUT WENG FINE ART AG Weng Fine Art AG (www.wengfineart.com), with subsidiaries in Germany and Switzerland, is a leading internationally operating art dealing and art service company. The founder-led company combines a long-term expertise in the art market with economic know-how. Other factors of success are the large inventory of artworks of the 20 and 21st century as well as the access to attractive funding. In addition to the traditional art dealing activities the company targets a leading role in the art e-commerce. Market know-how, the lack of competition and the comprehensive company-owned stock of high quality artworks will be the key to success of WFA Online AG in this segment. The shares of Weng Fine Art AG are listed in the Entry Standard of the Frankfurt stock exchange. CONTACT Weng Fine Art AG Rüdiger K. Weng, Vorstand Rheinpromenade 8 | 40789 Monheim am Rhein | Germany Phone +49 (0)2173 690 8700 | Fax +49 (0)2173 690 8701 E-Mail [email protected] --------------------------------------------------------------------------- 18.04.2016 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: Weng Fine Art AG Rheinpromenade 8 40789 Monheim am Rhein Germany Phone: +49(0)2173 6908700 Fax: +49(0)2173 6908701 E-mail: [email protected] Internet: www.wengfineart.com ISIN: DE0005181606 WKN: 518160 Listed: Regulated Unofficial Market in Berlin; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service --------------------------------------------------------------------------- 454967 18.04.2016