Company Releases
21.07.2010
Zapf Creation continues positive performance in the first half of 2010
• Consolidated revenue up 14% year on year
• EBIT improves by € 3.7 million
• Net result up 43%
• Gross profit margin up 10.4 percentage points
• Cash flow from operations remains high at € 8.7 million
• Continued debt reduction
Roedental, July 21, 2010 - The Zapf Creation Group today announced that its business performance in the first half of 2010 was again positive. In the first six months of the year, Zapf Creation's consolidated revenue rose compared to the same period last year. The Group's earnings and cash position also improved.
Ron Oboler, Chief Executive Officer of Zapf Creation AG, commented:
"Zapf's global team has again delivered a positive second quarter and strong, solid half-year results. This significant improvement over 2009 confirms our ability to build our brands and performance as we continue to strive and achieve reduced operating expenses and higher efficiencies. The results are in line with Zapf's 2010 budget. We now look forward to our new Christmas/fall innovative items arriving on the shelves. "
Group development in the first half of 2010 (compared to first half of 2009)
• Consolidated revenue was € 22.3 million, up 13.7% (2009: € 19.6 million).
• The gross profit margin rose to 39.5% (2009: 29.1%).
• Consolidated EBIT € -5.0 million (2009: € -8.7 million).
• Consolidated EBIT amounted to € -3.9 million, adjusted for one-time charges and restructuring costs.
• Operating cash flow at € 8.7 million remained high.
• Net liabilities decreased to € 18.8 million, down from € 25.0 million on December 31, 2009.
The report on the first six months of 2010 will be available on August 13, 2010, at www.zapf-creation.com.
Further information:
Frank Elsner/Jens Heinen
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 (0) 54 04 - 91 92 0
Fax: +49 (0) 54 04 - 91 92 29
Zapf Creation AG is Europe's leading manufacturer of play and functional dolls with accessories. Among Zapf Creation's best known brands are Germany's best-selling functional doll BABY born®, 15 million of which have been sold worldwide since 1991, plus Baby Annabell® and CHOU CHOU. All branded play concepts share a high standard of design, quality, safety and play value. Headquartered in Roedental, Germany, Zapf Creation was founded by Max Zapf in 1932 and went public in April 1999 (ISIN 0007806002). For further information, please visit: www.zapf-creation.com.
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