DGAP-News: Snowbird AG reports results for Q1/2015 - Double digit sales growth and increasing profitability


DGAP-News: Snowbird AG / Key word(s): Quarter Results/Dividend
Snowbird AG reports results for Q1/2015 - Double digit sales growth
and increasing profitability

28.05.2015 / 16:36

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Snowbird AG reports results for Q1/2015
- Double digit sales growth and increasing profitability

Hamburg, 28 May 2015 - Snowbird AG (ISIN: DE000A1PHEL8, Ticker Symbol:
8S9), listed on the Frankfurt Stock Exchange since 29 September 2014, today
announced its financial results for the first quarter 2015 ending 31 March.

Group sales revenues increased by 38.0% to EUR 34.0 million (Q1/2014: EUR
24.6 million). In Q1/2015 down clothing saw the highest increase in
quarterly sales from EUR 1.6 million in Q1/2014 to EUR 9.8 million in
Q1/2015. Down sales in Q1/2015 remained on previous year's level at EUR
16.6 million.

The Group's gross profit for Q1/2015 increased by 76.6% to EUR 13.0
million. Also the gross margin saw a strong increase to 34.3% from 29.8% in
Q1/2014. Profit after tax is EUR 8.2 million (Q1/2014: 4.1 million) and has
therefore doubled in Q1/2015 compared to the corresponding period.

Net cash inflow for operating activities for Q1/2015 was EUR 2.7 million
due to the payment of sales related bonuses for distribution partners for
2014. On 31 March 2015, Snowbird's cash and cash equivalents amounted to
EUR 64.0 million (31 December 2014: EUR 56.7 million).

End of March 2015 the Company's equity amounted to EUR 150.8 million,
compared to EUR 126.8 million on 31 December 2014. This results in an
equity to asset ratio of 81.5% (31 December 2014: 72.2%).
The number of shares issued at 31 March 2015 was 31,583,334.

Highlights of Q1/2015
- Finishing construction and starting operations of the new and modern
sewing plant with a current production capacity of additional 2.5 million
pieces per year.
- Start of operations in the new headquarters next to the production
facility hosting sales and administration departments as well as Research &
Development.

Annual General Meeting - first dividend payment
The Annual General Meeting is scheduled to take place on 20 July 2015 in
Munich. The company proposes to pay EUR 0.25 per share as a dividend to the
freefloat shareholders.

Outlook
"Our investments in production and sales show the first positive effects on
sales revenue and profit", commented Changzai Yan, Chief Executive Officer
of Snowbird AG. "China still is our main market, however, we will continue
our efforts to further expand our markets domestically and internationally.
Besides we will further optimize our added value and production efficiency
as well as continuously drive innovations."

Service
The Quarterly Report Q1/2015 (January - March) 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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28.05.2015 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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