A.S. Création Tapeten AG / Final Results 13.03.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- A.S. Création Tapeten AG, Gummersbach/Germany (ISIN DE0005079909) Sales and earnings reached new record levels in 2007 In the fiscal year 2007, A.S. Création Tapeten AG, Europe's leading wallpaper manufacturer achieved the highest sales in the history of the company. This was announced by the Managing Board at today's annual accounts press conference. At 167.6 million, Group sales were up 10.0% on the previous year's 152.4 million. The higher sales are the result of the 16.6% rise in international business. A.S. Création was able to achieve balanced growth in the individual sales regions, which means that sales increased on a broad basis. The Groups domestic sales were more or less on a par with the previous year. A.S. Création thus isolated itself from the general industry trend of declining domestic sales. Foreign markets accounted for a higher share of the Group's total sales. While 63.1% of the previous year's gross sales were generated abroad, this figure rose to 66.8% in 2007. Building on the increased sales, earnings before taxes also reached a new record level in fiscal 2007. At 14.6 million, they were up 14.9% on the previous years 12.7 million. As a result, the pre-tax return on sales improved moderately from the previous years 8.3% to 8.7%. A more pronounced increase in earnings, which would normally have been expected against the background of the strong sales growth, was precluded by the sharp rise in raw material and energy prices. Increased wage management and maintenance costs as well as higher marketing expenses also weighed on earnings. As a result of special tax effects in 2006 and 2007, consolidated net profit declined moderately from the previous years 10.2 million to 10.0 million in 2007. In 2006, net profit increased by 1.9 million due to the first-time capitalisation of the apportionable corporate income tax credit. In 2007, the adoption of the corporate income tax reform in Germany led to an adjustment of deferred taxes, which caused a 1.1 million rise in net profit. Adjusted for these special effects, net profit reflects the higher earnings achieved by A.S. Création. At 8.9 million, it was up 7.2% on the previous years 8.3 million. The Managing Board and the Supervisory Board will propose to the General Meeting of Shareholders to pay out a dividend of 1.60 per share (2006: 1.65). Based on earnings per share of 3.59 (2006: 3.65), this represents a payout ratio of 44.6% (2006: 45.2%). A.S. Création thus sticks to its dividend policy, which provides for a high payout ratio as long as this is justified by the companys financial situation, and underlines the good reputation of A.S. Création as a high-dividend share. The companys growth strategy was again underpinned by high capital expenditures in 2007. At 11.2 million, they were up 50.9% on the previous years 7.4 million and allowed the A.S. Création Group to create new jobs. As a result, the headcount increased sharply to a new record level of 675 on an annual average (2006: 653). The Managing Board plans to continue the expansive capital expenditure programme and has announced investments totalling approx. 30 million for 2008 and 2009 with a view to expanding its leading position in the European wallpaper market. Capital expenditures will focus on additional production and logistics capacity. The companys projections for fiscal 2008 provide for sales of approx. 185 million and net profit of between 10.5 million and 11.0 million. The Groups key figures for 2007 at a glance: 2007 2006 Change -------------------------------------------------- ------- ------- ------ Sales EUR '000 167,633 152,373 10.0% Earnings before interest and taxes (EBIT) EUR '000 15,005 13,747 9.2% Earnings before income taxes EUR '000 14,562 12,672 14.9% Net profit EUR '000 9,982 10,174 -1.9% Earnings per share EUR/share 3.59 3.65 -1.6% Cash-flow EUR '000 17,926 16,199 10.7% Capital expenditures EUR '000 11,232 7,443 50.9% Depreciation EUR '000 8,397 7,985 5.2% Number of employees (average) 675 653 3.4% Gummersbach, March 13, 2008 A.S. Création Tapeten AG The Managing Board Inquiries: Maik Krämer, Director of Finance, phone +49-(0)22 61/542-387, fax +49-(0)22 61/542-304, e-mail: m.kraemer@as-creation.de The full annual report is available at: www.as-creation.de or from: A.S. Création Tapeten AG, Mrs. Börngen, Südstr. 47, D - 51645 Gummersbach, phone +49-(0)22 61/542-350, e-mail: investor@as-creation.de DGAP 13.03.2008 --------------------------------------------------------------------------- Language: English Issuer: A.S. Création Tapeten AG Südstraße 47 51645 Gummersbach Deutschland Phone: +49 (0)22 615 42-0 Fax: +49 (0)22 6154 2-3 04 E-mail: investor@as-creation.de Internet: http://www.as-creation.de ISIN: DE0005079909 WKN: 507990 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: A.S. Création Tapeten AG: Sales and earnings reached new record levels in 2007
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