Annual reports

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Maik Krämer

Finance/Controlling

The 2023 financial year was characterized by the implementation of the restructuring projects initiated within the Group and the Group's continued focus on value-driven sales growth.

 

 

Annual reports

On March 28, 2024, A.S. Création published its Annual Report 2023:


The A.S. Création Group's consolidated sales revenues declined by 9.5% from € 134.0 million in the previous year to € 121.2 million in the fiscal year 2023. The deteriorating macroeconomic environment in the last two quarters of 2023 was the main reason why the decline in A.S. Création's sales revenues in the second half of 2023 was much stronger than expected.

 

The effects of the restructuring projects initiated are reflected in the significant improvement in the gross profit margin to 48.8% (previous year: 45.8%). This reflects the initial success of the focus of the product and sales policy on higher-margin product ranges. 

 

Moreover, the measures taken enabled A.S. Création to reduce its operating loss to € -2.1 million in the reporting year (previous year: € -8.6 million). However, the operating results of both years were adversely affected by special effects (e.g. restructuring expenses). Adjusted for non-recurring effects in both years, the adjusted operating result fell from € -3.9 million in 2022 to € -1.7 million in the reporting year. This means that A.S. Création's earnings position improved significantly in 2023, even though the low sales level prevented the company from returning to profitability. Overall, the adjusted operating result was within the range of € -2 million to € +1 million that the Managing Board had expected for the fiscal year 2023.

 

Due to the loss, the Managing Board and the Supervisory Board do not intend to pay a dividend for fiscal 2023.

 

The annual reports are only available in German. 

 

 

 

Key figures

        2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
 

Sales

Earnings before interest and taxes (EBIT)

EBIT margin

Earnings before taxes

Return on sales before taxes

€'000

€'000

%

€'000

%

 

189,128

3,306

1.7

-5,052

-2.7

166,515

7,880

4.7

5,622

3.4

152,608

5,917

3.9

10,202

6.7

143,329

-15,808

-11.0

-17,776

-12.4

134,485

-2,885

-2.1

-5,710

-4.2

141,057

4,503

3.2

15,287

10.8

144,869

4,430

3.1

3,695

2.6

145,639

5,710

3.9

5,160

3.5

133,993

-8,554

-6.4

-9,092

-6.8

121,224

-2,086

-1.7

-2,608

-2.2

 

Earnings per share

Dividend per share

€/share

€/share

 

-3.39

0.00

1.19

0.60

2.70

1.25

-6.45

0.00

-2.17

0.00

5.13

0.90

0.53

0.90

1.40

0.90

-1.95

0.00

-0.51

0.00

 

Capital expenditures

Depreciation

Cash flow from operating activities

€'000

€'000

€'000

 

5,115

9,340

14,165

5,342

8,645

17,444

5,014

7,612

17,095

10,218

6,538

3,231

8,304

6,060

3,321

5,933

5,715

-2,139

3,724

5,497

7,009

4,853

5,703

7,978

2,907

6,138

40

3,331

4,923

3,783

 

Total assets

Shareholders' equity

Equity ratio

€'000

€'000

%

 

146,162

86,891

59.4

140,405

93,188

66.4

140,273

96,502

68.8

130,714

75,715

57.9

128,650

72,233

56.1

128,000

79,427

62.1

127,492

78,881

61.9

126,806

81,024

63.9

113,487

76,681

67.6

112,347

72,445

64.5

 

Net financial debt (+)/Net investment position (-)

Debt relief period

€'000

years

 

11,929

0.8

-291

n.a.

-11,651

n.a.

-417

n.a.

3,368

1.0

-6,118

n.a.

-11,446

n.a.

-11,590

n.a.

-5,512

n.a.

-6,332

n.a.

 

Return On Capital Employed (ROCE) 

Return On Equity (ROE) 

%

%

 

2.8

-10.4

7.3

3.7

5.8

7.8

-16.8

-20.6

-3.3

-8.1

5.1

18.6

5.2

1.8

6.8

4.8

-10.4

-6.8

-2.7

-1.9

 

Number of employees 

Sales per employee

Personnel expenses as % of total output

 

€'000

%

 

822

230

23.2

801

208

26.5

768

199

26.8

761

188

28.1

755

178

27.8

750

188

26.5

752

193

26.9

771

189

27.2

754

178

28.8

684

177

28.7

 

© 2024 A.S. Création Tapeten AG