A.S. Création Tapeten AG

  • ISIN: DE000A1TNNN5
  • Land: Deutschland

Nachricht vom 14.05.2020 | 13:09

A.S. Création Tapeten AG: Annual General Meeting of Shareholders approves dividend of € 0.90 per share for 2019. Q1 2020 in line with expectations.

DGAP-News: A.S. Création Tapeten AG / Key word(s): AGM/EGM/Quarterly / Interim Statement
14.05.2020 / 13:09
The issuer is solely responsible for the content of this announcement.

A.S. Création Tapeten AG, Gummersbach

Annual General Meeting of Shareholders approves dividend of € 0.90 per share for 2019. Q1 2020 in line with expectations.

Due to the contact restrictions imposed in the context of the coronavirus crisis, today's Annual General Meeting of Shareholders of A.S. Création Tapeten AG, Europe's leading wallpaper manufacturer, was held as a virtual meeting without the physical presence of shareholders. In view of the positive earnings performance in 2019, it was decided to distribute a dividend of € 0.90 per share for the past fiscal year. The Chairman of the Supervisory Board, Mr Jochen Müller, thanked all employees of A.S. Création for their great commitment in the past fiscal year. The acts of the Managing Board and the Supervisory Board were ratified of the shareholders.

The interim report for the period ended March 31, 2020 was also presented. At € 37.8 million, the Group's revenues in the first three months of 2020 were down by a moderate 1.1% on the previous year's € 38.2 million. In Germany, A.S. Création was able to increase its revenues slightly by 0.5% in spite of the lockdown imposed in March. This reflects the success of the company's two campaigns "New Walls" and "Neue Bude 2.0", which were presented at the International Partner Days in autumn 2019 and for which deliveries were mostly made in the first two months of 2020. A.S. Création's revenues in the rest of the EU declined by a noticeable 5.1%, however. In some of these countries, stricter restrictions than in Germany were imposed in the context of the coronavirus crisis. Especially in France, sales of wallpapers and furnishing fabrics came to an almost complete standstill in the second half of March. By contrast, strong revenue growth of 5.2% was achieved by A.S. Création in Eastern European countries outside the EU. Total consolidated revenues in the first quarter of 2020 were in line with the company's plans, although the economic conditions became increasingly difficult.

The earnings performance in the first quarter of 2020 was adversely affected by non-cash exchange losses of € -3.5 million resulting from the sharp depreciation of the Russian and Belarusian rouble against the euro. These are the reason why A.S. Création posted a loss in the first three months of 2020 in terms of both earnings before interest and taxes (€ -1.5 million) and earnings after taxes (€ -2.3 million). The situation in the first quarter of 2019 was different, when the Eastern European currencies appreciated slightly against the euro, leading to exchange gains of € 0.7 million at that time.

Adjusted for these exchange losses, A.S. Création's earnings position improved in the first three months of the current fiscal year. Adjusted earnings before interest and taxes rose by € 0.5 million from € 1.5 million in the first quarter of 2019 to € 2.0 million in the reporting period, which was in line with expectations. Apart from cost savings, this increase reflects the successful development of A.S. Création's product range over the past years, which enabled A.S. Création to maintain its gross profit margin at the high level of the previous year in spite of a highly competitive environment.

At this point in time, the Managing Board is unable to reliably estimate the effects the coronavirus crisis will have on the full fiscal year. Therefore, the Managing Board is also unable to make a well-founded statement as to whether and, if so, to what extent the plans and budgets for the full year 2020 should be downgraded. The Managing Board therefore intends to decide at a later date on a possible adjustment of the plans and budgets for the full fiscal year.

The Group's key figures for the first three months of 2020 are summarised below:

    01.01.-31.03. 01.01.-31.03. Change
    2020 2019  
Sales revenues EUR '000 37,814 38,234 - 1.1%
Earnings before interest and taxes (EBIT) EUR '000 -1,453 2,193 n.a.
Earnings after taxes EUR '000 -2,255 3,431 n.a.
Earnings per share EUR/share -0.82 1.24 n.a.
Cash flow from operating activities EUR '000 -2,742 1,576 n.a.
Capital expenditures EUR '000 1,179 1,074 9.8%
Depreciation EUR '000 -1,533 1,530 0.2%
Number of employees (average)   764 749 2.0%

Gummersbach, May 14, 2020

A.S. Création Tapeten AG

The Managing Board

Maik Krämer, Director of Finance and Controlling
phone +49-2261-542 387, fax +49-2261-542 304
e-mail: m.kraemer@as-creation.de

The full interim report is available at:
www.as-creation.de or from
A.S. Création Tapeten AG,
Frau Börngen, Südstr. 47, D - 51645 Gummersbach,
phone +49-2261-542 350,
e-mail: investor@as-creation.de

14.05.2020 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.
Archive at www.dgap.de

show this

Event im Fokus

Termine 2021

10. Juni 2021:Fachkonferenz Immobilien

14./15. Juli 2021: Fachkonferenzen Beteiligungsgesellschaften & Consumer/Leisure

13./14. Oktober 2021: Fachkonferenzen Finanzdienstleistungen/Technologie

10./11. November 2021: Fachkonferenzen Software/IT & Branchenmix

„Je nach aktueller Covid-19 Situation und den bestehenden Vorschriften für Versammlungen entscheidet sich ca. 5 Wochen vor dem Termin, in welcher Form die Konferenzen stattfinden.“


Cryptology Asset Group PLC: 120 % Kurspotenzial

GBC Research hat mit der Coverage der Cryptology Asset Group PLC (ISIN: MT0001770107) begonnen. Die Bewertung der führenden europäischen Investmentgesellschaft für Krypto-Assets und Blockchain-Unternehmen erfolgte mittels der Berechnung des Net Asset Value (NAV). Unter Berücksichtigung aller Beteiligungen ergibt sich zum 05. Juli 2021 eine GBC-Fair-NAV-Bewertung in Höhe von 1,04 Mrd. EUR. Daraus ergibt sich ein NAV je Cryptology-Aktie von 358,43 EUR. Daher empfiehlt GBC Research die Cryptology-Aktie zum Kauf und sieht ein Kurspotenzial von über 120 %.

News im Fokus

Deutsche Wohnen SE: Freiwilliges öffentliches Übernahmeangebot von Vonovia voraussichtlich nicht erfolgreich

23. Juli 2021, 19:10

Aktueller Webcast


H1 2021 Analyst Call

04. August 2021

Aktuelle Research-Studie

Original-Research: Diversified Energy PLC (von First Berlin Equity Research GmbH): Kaufen Diversified Energy PLC

23. Juli 2021