DGAP-News: Asian Bamboo AG / Key word(s): Miscellaneous/Forecast Asian Bamboo reiterates its FY 2011 guidance 05.06.2011 / 21:40 --------------------------------------------------------------------- Hamburg, 5 June 2011 - In light of the recent share price volatility the Management Board of Asian Bamboo AG ('Asian Bamboo', 'the Company', ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a world-leading integrated company in the bamboo industry, reiterates its previously stated FY 2011 guidance of a revenue of at least EUR 125 million and a net profit margin of at least 40%. In addition, the Management Board states the following: * Asian Bamboo was listed on the Prime Standard (Main Board) of Deutsche Boerse in November 2007 after going through an IPO process * The Company's financial statements are audited by Deloitte and Asian Bamboo's financial statements have received unqualified audit opinions every year * Since the listing, as part of the year end audit, the value of the Company's biological assets has been assessed by Jones Lang Lasalle Sallmanns ('Sallmanns'), a leading valuation firm with global operations, after going through a very detailed assessment process. For example, during the FY 2010 assessment, Sallmanns counted trees in 2,500 random locations on the Company's plantations * The Company uses a conservative assessment method for the biological asset valuation. Only the bamboo trees and bamboo shoots which are on the plantations at year end are included in the calculation. This means that, on the Company's balance sheet in the annual report, Asian Bamboo only values an estimated 25% of all bamboo trees, 5% of all spring bamboo shoots and 3% of all winter bamboo shoots which are expected to be harvested on the plantations during the lease period * By the end of Q1 2011, Asian Bamboo had only EUR 12.3 million in bank debt of which EUR 10.6 million is a 7-year loan arrangement with Deutsche Investitions- und Entwicklungsgesellschaft mbH ('DEG'). The Company's debt to equity ratio was 0.04 at the end of Q1 2011 * The Company is conservatively managed and the Company's business expansion is carefully planned, implemented and communicated * The Management Board is incentivised through a stock option scheme which can be exercised in September 2014 at the earliest * As a German company, Asian Bamboo has a dual board structure with an independent Supervisory Board supervising the Management Board * Mr. Lin Zuojun, Asian Bamboo's founder, CEO and largest shareholder with a 37.3% stake, founded the Company in 1992 and has developed the company step by step to what it is today over a period of 20 years For enquiries, please contact: Asian Bamboo AG: Peter Sjovall +852-9385 3868 Chief Financial Officer Anja Holst +49-(0)40 37644 798 Investor Relations Manager End of Corporate News --------------------------------------------------------------------- 05.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's 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: Asian Bamboo AG Stadthausbrücke 1-3 20355 Hamburg Deutschland Phone: +49 40 37644 798 Fax: +49 40 37644 500 E-mail: info@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 --------------------------------------------------------------------- 127496 05.06.2011
DGAP-News: Asian Bamboo reiterates its FY 2011 guidance
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