A.S. Creation Tapeten AG

Earnings Release • Aug 11, 2003

News Details

Ad-hoc | 11 August 2003 08:38

A.S. Création Tapeten english

A.S. Création reports weak first half of 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– A.S. Création Tapeten AG, Germany’s biggest wallpaper manufacturer, today publishs its interim report for the period ending on June 30, 2003. According to this report, sales declined by 3.3% from EUR 63.4 million in the first half of 2002 to EUR 61.3 million in the first half of 2003. In the same period, net profit fell by 33.4% from EUR 2.8 million to EUR 1.8 million. The disproportionate decline in profit was attributable to the lower gross profit which was down from 51.3% to 48.8% and reflected higher raw materials prices as well as aggressive price competition in the wallpaper market. In view of the negative trends in the second quarter of 2003, the Managing Board of A.S. Création Tapeten AG expects no turnaround in the economic environment in the second half of the year. The target figures for fiscal 2003, i.e. sales of EUR 126 million and a net profit of EUR 7.0 million, will therefore probably not be reached. Gummersbach, August 11, 2003 Inquiries: Maik Krämer, Director of Finance, phone + 49 – (0)22 61/542-387, fax + 49 – (0)22 61/542-304, e-mail m.kraemer@as-creation.de The full interim report is available at www.as-creation.com/investor or from: A.S. Création Tapeten AG, Mrs. Börngen, Südstr. 47, D – 51645 Gummersbach, phone + 49 – (0)22 61/542-350 end of ad-hoc-announcement (c)DGAP 11.08.2003 ——————————————————————————– WKN: 507990; ISIN: DE0005079909; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110838 Aug 03