DGAP-News A.S. Création Tapeten AG: Successful fiscal year 2020
DGAP-News: A.S. Création Tapeten AG / Key word(s): Annual Report/Annual Results
A.S. Création Tapeten AG, Gummersbach
Successful fiscal year 2020
In spite of the difficult environment caused by the COVID-19 pandemic, A.S. Création was able to clearly grow its revenues in the fiscal year 2020. At € 144.9 million, consolidated revenues were up by 2.7% on the previous year's € 141.1 million. The successful revenue trend was primarily supported by strong growth in Germany.
Greatly improved results from operations
Earnings before interest and taxes stood at € 4.4 million (previous year: € 4.5 million) and earnings after taxes from continuing operations at € 1.5 million (previous year: € 2.4 million). As the Russian and Belarusian roubles depreciated against the euro in the course of 2020, A.S. Création had to absorb significant exchange losses in the year under review, compared to exchange gains in the previous year. Adjusted for these non-cash currency effects, earnings before interest and taxes for 2020 stood at € 8.8 million (previous year: € 3.4 million) and earnings after taxes from continuing operations at € 5.5 million (previous year: € 1.4 million). The clearly improved result is primarily due to the increase in revenues, which was achieved with a simultaneous increase in the gross profit margin from 50.5% in the previous year to 53.0% in the fiscal year 2020. This growth primarily reflects the expansion of the share of higher-value products in the total product range as well as the increased share of high-margin low-volume business in 2020.
Constant dividend of € 0.90 per share planned
Against the background of the improved results from operations, the very good financial position and the positive outlook, the Managing Board and the Supervisory Board propose to distribute an unchanged dividend of € 0.90 per share to the shareholders for the fiscal year 2020. A decision on this proposal will be made by the Annual General Meeting of Shareholders scheduled for May 6, 2021.