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Annual reports

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Maik Krämer

Finance/Controlling

The economic situation of A.S. Création in the crisis year 2022 provides a snapshot of the company under special conditions and does not paint the picture of the company as it will be in the future.

 

 

Annual reports

On March 30, 2023, A.S. Création published its Annual Report 2022:

In the first two months of 2022, Group sales were above the previous year's level, but as the year progressed, the extent to which the consequences of the Ukraine war affected demand for wallpapers became apparent. Overall, A.S. Création's sales declined by 8.0% from € 145.6 million in the previous year to € 134.0 million in fiscal 2022. Despite an attractive product range with many novelties, A.S. Création was unable to escape the general decline in demand.


In 2022, A.S. Création did not succeed in fully offsetting the massive price increases for raw materials and energies by raising its own selling prices. This is reflected in the decline in the gross profit margin from 49.5% in the previous year to 45.8% in the year under review.


In order to adjust A.S. Création to the changed framework conditions, restructuring programs were launched inOn March 30, 2023, A.S. Création published its Annual Report 2022: some Group companies, in particular at A.S. Création Tapeten AG in Germany, in 2022. Apart from the decline in sales revenues and the lower gross profit margin, these restructuring expenses additionally weighed on A.S. Création's earnings position. However, even excluding the restructuring expenses and other special effects, A.S. Création was in the red in fiscal 2022. The corresponding adjusted earnings after taxes declined from € +3.3 million in 2021 to € -2.1 million in 2022. 

 

Due to the loss, the Managing Board and the Supervisory Board do not intend to pay a dividend for fiscal 2022.

 

The annual reports are only available in German. 

 

 

 

Key figures

        2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
 

Sales

Earnings before interest and taxes (EBIT)

EBIT margin

Earnings before taxes

Return on sales before taxes

€'000

€'000

%

€'000

%

 

199,818

10,238

5.1

5,233

2.6

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

 

Earnings per share

Dividend per share

€/share

€/share

 

0.48

0.25

-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

 

Capital expenditures

Depreciation

Cash flow from operating activities

€'000

€'000

€'000

 

8,667

9,469

12,585

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

 

Total assets

Shareholders' equity

Equity ratio

€'000

€'000

%

 

159,067

93,473

58.8

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

 

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

Debt relief period

€'000

years

 

20,317

1.6

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.

 

Return On Capital Employed (ROCE) 

Return On Equity (ROE) 

%

%

 

8.1

1.4

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

 

Number of employees 

Sales per employee

Personnel expenses as % of total output

 

€'000

%

 

837

239

22.5

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

 

© 2023 A.S. Création Tapeten AG