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    DGAP-News  767  0 Kommentare Asian Bamboo announces final Q1-Q2 2014 results


    DGAP-News: Asian Bamboo AG / Key word(s): Half Year Results
    Asian Bamboo announces final Q1-Q2 2014 results

    14.08.2014 / 06:46

    ---------------------------------------------------------------------

    Asian Bamboo announces final Q1-Q2 2014 results

    Hamburg, 14 August 2014 - Asian Bamboo AG ("Asian Bamboo", "the Company",
    ISIN: DE000A0M6M79, ticker symbol: "5AB", ADR ticker symbol "ASIBY"),
    announces the following final results for the period Q1-Q2 2014 (percentage
    numbers are year-on-year comparisons):

    - Revenue decreased 22% to EUR 10.8 million* (Q1-Q2 2013: EUR 13.7
    million*)

    - Gross profit including FVBA-changes** increased 204% to EUR 5 million
    (Q1-Q2 2013: EUR 1.6 million), equivalent to a gross profit margin
    including FVBA-changes of 46% (Q1-Q2 2013: restated: 12%)

    - Net profit of EUR 8.1 million (Q1-Q2 2013 restated: net loss of EUR 2.2
    million)

    - Operating cash flow before movements in working capital was EUR 1.3
    million (Q1-Q2 2013: EUR 4.5 million)

    - Net cash generated from operating activities was positive EUR 4.2
    million (Q1-Q2 2013: negative EUR 4 million)

    - Cash and cash equivalents of EUR 26 million (31 December 2013: EUR 28.5
    million)

    * Revenue numbers do not include sales of bamboo fibre as it is treated as
    a discontinued operation
    **FVBA is an abbreviation for gains/(losses) arising from changes in the
    fair value less estimated costs to sell of biological assets

    In the first half of the year the performance remained unsatisfactory due
    to the structural issues the plantation business is facing. In addition,
    the spring bamboo shoot harvest was negatively affected by heavy rain
    during the key harvesting weeks, which also had a negative impact on the
    production of dried bamboo shoots. The Management Board continued to
    exercise stringent cost control and the provisions made for onerous
    plantation lease contracts have lowered the total amortisation costs. In
    addition, on 22 April the Company announced an agreement to give up the
    rights to certain plantations, which resulted in an accounting gain of EUR
    6.8 million in Q2. Most importantly, the business continued to be net
    operating cash flow positive.

    For enquiries, please contact:

    Asian Bamboo AG:

    Peter Sjovall +852-9385 3868
    Chief Financial Officer peter.sjovall@asian-bamboo.com

    Anja Holst +49-(0)40 37644 798
    Investor Relations Director anja.holst@asian-bamboo.com

    About Asian Bamboo AG:

    Asian Bamboo is a leading integrated company in the bamboo industry. The
    Company currently owns long-term leasing rights for 40 bamboo plantations
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    DGAP-News Asian Bamboo announces final Q1-Q2 2014 results DGAP-News: Asian Bamboo AG / Key word(s): Half Year Results Asian Bamboo announces final Q1-Q2 2014 results 14.08.2014 / 06:46 --------------------------------------------------------------------- Asian Bamboo announces final Q1-Q2 2014 results …

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