DGAP-News: Asian Bamboo announces strong FY 2010 results

 | Source: EQS Group AG EQS Group AG 

DGAP-News: Asian Bamboo AG / Key word(s): Final Results
Asian Bamboo announces strong FY 2010 results

30.03.2011 / 00:01

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Hamburg, 30 March 2011 - 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, is pleased to
announce the following results for FY 2010 (all percentage numbers are
year-on-year comparisons):

* Revenue grew 29% to EUR 75.9 million (2009: EUR 58.6 million)
* Net profit grew 17% to EUR 33.5 million (2009 Restated: EUR 28.6
million), equivalent to a net profit margin of 44% (2009 Restated: 49%)
* Excluding option costs and road repair costs, the net profit grew 31% to
EUR 37.4 million, equivalent to a net profit margin of 49%
* Cash and cash equivalents grew 94% at EUR 56.7 million (2009: EUR 29.1
million)

The financial performance in FY 2010 was negatively affected by the
rainstorms in June and the snow falls in December. Despite this, Asian
Bamboo managed to achieve satisfactory revenue and net profit growth mainly
as a result of an increase in the mature plantation size and higher prices.

Mr. Lin Zuojun, founder and CEO of Asian Bamboo, commented: 'We have now
started processing bamboo fibre and the outlook for that business is very
promising. Primarily driven by a larger plantation size, we expect to reach
a revenue and net profit margin, including the contribution from the bamboo
fibre processing project, of at least EUR 125 million and 40%,
respectively, in FY 2011.'

The complete FY 2010 annual report can be accessed on www.asian-bamboo.com
(English version) or www.asian-bamboo.de (German version).


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

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30.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.

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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  
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117505 30.03.2011
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