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DGAP-News: A.S. Création Tapeten AG / Key word(s): 9 Month figures/Quarterly / Interim Statement
A.S. Création Tapeten AG, Gummersbach (ISIN DE000A1TNNN5)
Gratifying revenue and earnings performance in the current fiscal year
Growing revenues in current fiscal year
Earnings severely affected by commodity price trend
The Managing Board is concerned about the strong price increases in the procurement markets, especially for petroleum-based raw materials, which started in late February/early March 2021 and are weighing heavily on A.S. Création's gross profit margin. As a result, A.S. Création's gross profit margin literally collapsed from 54.5% in the first quarter of 2021 to 48.5% in the second quarter of 2021 and 45.6% in the third quarter of 2021. This means that A.S. Création lost 8.9 percentage points of its gross profit margin within six months. It was not possible for the company to offset this massive increase in the prices of raw materials and energy by cutting costs. The increase in A.S. Création's own sales prices implemented in mid-2021 was clearly not sufficient, either. As a result, earnings before interest and taxes have deteriorated in the year to date. While A.S. Création was able to generate earnings before interest and taxes (excluding exchange rate effects) of
Plans for the full year 2021 no longer achievable
Against this highly uncertain background in the coming months, the Managing Board currently projects revenues of between € 140 million and € 147 million, EBIT (excluding exchange effects) of between € 3.0 million and € 4.0 million and earnings after taxes (excluding exchange rate effects) of between € 1.8 million and € 2.5 million for the full year 2021.
In spite of all these temporary uncertainties and risks, the Managing Board still considers A.S. Création to be very well positioned. With wallpaper and furnishing fabrics, A.S. Création's product portfolio comprises products that are likely to benefit from (mega)trends such as individualisation, the return to the home (hiving, cocooning) and changes in the world of work (working from home). Moreover, A.S. Création has a robust financial structure, high internal financial resources and sufficient liquidity to make the necessary modernisation investments. Such investments form the basis for both meeting customers' changing requirements and seizing the new opportunities and possibilities offered by the changing framework conditions.
Gummersbach, November 4, 2021
A.S. Création Tapeten AG
The interim statement is available at
04.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
A.S. Création Tapeten AG
+49 22 61 54 2-0
+49 22 61 54 2-3 04
Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
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