Asian Bamboo AG / Quarter Results 29.05.2008 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Asian Bamboo reports strong first quarter results; a net profit of EUR 1.64 million and an adjusted net profits of EUR 5.3 million, up 79% and 477% respectively compared to the same period last year Hamburg, 29 May, 2008 - Asian Bamboo AG ('Asian Bamboo', Ticker Symbol '5AB') today announces its first quarter results for 2008. Key performance highlights are: - Revenue reached EUR 7.8 million, up 208% yoy - Adjusted net profit, excluding gains from changes in value of biological assets and taxes thereon, of EUR 5.3 million, up 477% yoy - Adjusted net profit per share of EUR 0.42 up 500% yoy - Net profit of EUR 1.64 million up 79% yoy - Total size of plantations reached 24,715 ha, up 69% compared to the end of last year - Size of mature plantations (ha) 15,942 up 171% compared to the end of last year The Company's sharp increase in turnover and adjusted net profit was primarily driven by an addition of mature bamboo plantation acreage, together with a general increase in the demand for bamboo shoots and rising unit prices. The gross profit margin increased from 40% in Q1 2007 to 68.1% in Q1 2008, due to higher unit prices and a change in the Companys product mix in favor of fresh shoots, which contributed 88% of the total sales volume in Q1 2008, compared to 48% during the same period in Q1 2007. Asian Bamboo Group earns significantly higher gross profit margins on fresh shoots than on processed shoots. Lin Zuojun, CEO of Asian Bamboo, commented: 'We are pleased with our operational performance in Q1 and we are on track to exceeding our performance targets for the full year. However, we would like to emphasize that although the gross and adjusted net profit margins for the full year are likely to remain high, they may not be as high as in the first quarter, which were helped by a combination of seasonal factors and the effects on supply caused by the winter storms in January.' In its outlook the management states that it expects the turnover for the full year 2008 to exceed EUR 45 million and that the adjusted consolidated net profit margin, excluding revaluation gains and deferred tax thereto of biological assets, will be at least 40 pct. The Management Board will propose a dividend, in line with the Companys profitability in 2008, to be distributed in 2009.' The Q1 report, both in a German and English version, can be accessed on: English: http://www.asian-bamboo.de/en/investor_relations/publikationen.html German: http://www.asian-bamboo.de/de/investor_relations/publikationen.html For further information, please contact: Asian Bamboo: Zhao Tong +852-9011 8258 Head of Investor Relations Brunswick Group: Peter Sjovall +852-9385 3868 Director, Hong Kong Hartmut Schumacher +49-69-24005519 Director, Frankfurt About Asian Bamboo AG Asian Bamboo Group is a leading producer of bamboo trees and organic bamboo shoots in China. Bamboo trees are used in a variety of applications such as flooring, construction and furniture and bamboo shoots are either sold fresh or processed as organic food. The vast majority of the Companys products are sold in China, however processed bamboo shoots are also exported to Japan. The Company signs long-term leases with land owners and currently owns the rights to 18 bamboo plantations comprising a total acreage of more than 24,700 ha in the Fujian Province, which is one of the main areas for growing bamboo in the Peoples Republic of China. Asian Bamboo Groups registered office is located in Hamburg, Germany and the Company is listed on the Frankfurt Stock Exchange. In FY 2007 Asian Bamboo Group generated revenues of 14.7 million and an adjusted net profit of 6.7 million. As of 31 December 2007, Asian Bamboo Group had approximately 300 employees. Further information on Asian Bamboo AG, please visit the Companys web-site at: www.asian-bamboo.com Contact: BRUNSWICK Tong Zhao Phone: 00852-9011 8258 Fax: 00852-2259 9008 tzhao@brunswickgroup.com DGAP 29.05.2008 --------------------------------------------------------------------------- Language: English Issuer: Asian Bamboo AG Stadthausbrücke 1-3 20355 Hamburg Deutschland Phone: +49 40 37644 798 Fax: +49 40 37644 500 E-mail: cornelia.dieker@asian-bamboo.de Internet: www.asian-bamboo.de ISIN: DE000A0M6M79, DE000A0M6M79 WKN: A0M6M7, A0M6M7 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-News: Asian Bamboo AG: Q1 net profit up 79 percent
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