euro adhoc: Financial Figures/Balance Sheet
Zapf Creation Group: 2008 business
performance affected by weak fourth quarter
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Preliminary financial figures 2008
27.02.2009
Roedental, February 27, 2009 - The Zapf Creation Group, Europe´s leading manufacturer of play and functional dolls, today announced that its sales and earnings in 2008 developed in line with the adjusted guidance published by its Management Board in December. According to preliminary, unaudited figures, consolidated sales came in at EUR 104.4 million in the 2008 financial year, which is 5.5% below the previous year's figure of EUR 110.5 million. The decline is partly due to negative currency effects. Business performance was increasingly affected by the strong global economic downturn. Major markets saw severely restrained demand on the part of the company's trading partners especially in the fourth quarter, a period that is of great importance to the toy industry because it includes the Christmas business.
Consolidated earnings before interest and taxes (EBIT) in the financial year just ended totaled EUR 0.9 million after EUR 5.7 million in 2007. Adjusted for restructuring and one-off items, consolidated EBIT amounted to EUR 0.8 million (2007: EUR 6.0 million). The Group's net loss for the year was EUR 5.8 million. This compares to a net loss of EUR 2.7 million in the previous year.
The complete conversion of subordinated shareholder loans into equity as part of the Group's long-term financing significantly raised the Zapf Creation Group's equity ratio to 24.5% at the end of 2008 (December 31, 2007: 12.5%). Net liabilities (including shareholder loans) as of the balance sheet date were EUR 28.0 million, compared to EUR 32.9 million at the end of 2007.
Given that it is currently almost impossible to predict consumer demand in the core markets of the Zapf Creation Group, the Management Board at this point will not make a statement regarding sales and earnings for 2009.
Further information: Frank Elsner Frank Elsner Kommunikation für Unternehmen GmbH Tel.: +49 (0) 54 04 - 91 92 0 Fax: + 49 (0) 54 04 91 92 29
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Katrin Kühnel
Telefon: +49 (0)9563-7251-513
E-Mail: katrin.kuehnel@zapf-creation.de
Branche: Consumer Goods
ISIN: DE0007806002
WKN: 780600
Index: MDAX, CDAX, Classic All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade
Original-Content von: Zapf Creation AG, übermittelt durch news aktuell