DGAP-News: Snowbird AG / Key word(s): Final Results/Dividend
Snowbird AG reports results for fiscal year 2014 - Double digit sales
growth due to new production facilities - Gross profit margin at a
high level of 39.5%
30.04.2015 / 14:51
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Snowbird AG reports results for fiscal year 2014
- Double digit sales growth due to new production facilities
- Gross profit margin at a high level of 39.5%
Hamburg, 30 April 2015 - Snowbird AG (ISIN: DE000A1PHEL8, Ticker Symbol:
8S9), listed on Frankfurt Stock Exchange since 29 September 2014, today
announced its financial results for the fiscal year 2014 ending 31 December
2014.
Group sales revenues increased by 39.9% to EUR 191.5 million (previous
fiscal year 2013: EUR 136.9 million). All product categories, except OEM
production, have recorded double-digit growth rates as a result of
increased marketing efforts and strong customer demand. The Group's gross
profit margin in 2014 saw a slight increase to 39.5% from 38.7% in fiscal
year 2013. Profit after tax is EUR 39.7 million (p/y: 28.2 million) and has
also seen a strong growth of 40.7% for the twelve months ended 31 December
2014 as compared to the corresponding period.
Net cash inflow from operating activities for fiscal year 2014 was EUR 30.8
million (previous year: EUR 5.8 million). On 31 December 2014, Snowbird's
cash and cash equivalents amounted to EUR 56.7 million (31 December 2013:
EUR 16.8 million).
The Company's equity amounted to EUR 126,8 million, compared to EUR 67.6
million on 31 December 2013. This results in an equity ratio of 72.2% (31
December 2013: 66,7%).
The number of shares issued at 31 December 2014 was 31,583,334.
Highlights of fiscal year 2014
- Building and ramp up of new down production facility in Puyang, Henan
Province, China, with an annual production capacity of 3,300 tons high
quality down.
- Continuing construction of the new and modern sewing plant with a current
production capacity of additional 2.5 million pieces per year. Operations
started in Q1/2015.
- Building the headquarters next to the production facility hosting sales
and administration departments as well as Research & Development. Started
operations in March 2015.
- Initial Public Offering (IPO) in the Prime Standard segment of the
Frankfurt Stock Exchange on 29 September 2014.
First dividend payment
The company proposes to pay EUR 0.25 per share as a dividend to the
freefloat shareholders. The pre-IPO shareholders have waived their fiscal
year 2014 dividend rights amounting to EUR 7.5 million to show their
continuous support to the company. The waived dividend amount will be
utilised to grow the business of the company.
Annual General Meeting
The Annual General Meeting is scheduled to take place on 20 July 2015 in
Munich.
Outlook
"Beside growing our group sales revenues at continuing high margins, the
successful IPO in Frankfurt was the most important event in fiscal year
2014", commented Changzai Yan, Chief Executive Officer of Snowbird AG.
"With the IPO we have increased the awareness for our products in Asia and
simultaneously have created a sound basis for new sales possibilities in
Europe. Together with our skilled employees we will continue to emphasize
on innovation, value added product development and continuous improvement
in production efficiency."
Service
The audited Annual Report 2014 (January - December) is available for
download on our website www.snowbird-ag.com section News&Reports
(PDF-file).
End of press release
Snowbird AG - one of largest down processing companies worldwide
Snowbird is one of the world's leading down processors and known for high
quality down-filled textiles and for down bedding, down duvets and down
pillows. With its new state of the art production facility, located in
China, Henan Province, the company is able to process down at highest
quality standards in a sustainable and environmental friendly way. Snowbird
operates very profitable along the value chain from down processing to down
clothing and down bedding production. Products are sold under the brands
"Snowbird" or "Xueniao" or produced as white label based on orders from
third parties.
Investor Relations Contact
Please direct all your requests to:
max. Equity Marketing GmbH, Maximilian Fischer, Marienplatz 2, 80331
Munich, Germany
Tel: +49 89 139 28890 E-Mail: ir@snowbird-ag.com
IMPORTANT NOTE - Disclaimer
This publication constitutes neither an offer to sell nor an invitation to
buy securities. The shares in Snowbird AG (the "Shares") may not be offered
or sold in the United States or to or for the account or benefit of "U.S.
persons" (as such term is defined in Regulation S under the U.S. Securities
Act of 1933, as amended (the "Securities Act")). Furthermore, the shares
may not be offered or sold in Japan or to or for the account or benefit of
Japanese citizens.
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30.04.2015 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
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Language: English
Company: Snowbird AG
c/o HRG Hansische Revisions-Gesellschaft mbH,
Ferdinandstr. 25
20095 Hamburg
Germany
Phone: +49 89 139 28890
E-mail: ir@snowbird-ag.com
Internet: www.snowbird-ag.com/de
ISIN: DE000A1PHEL8
WKN: A1PHEL
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News-Service
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351559 30.04.2015
DGAP-News: Snowbird AG reports results for fiscal year 2014 - Double digit sales growth due to new production facilities - Gross profit margin at a high level of 39.5%
| Source: EQS Group AG