Asian Bamboo reports strong interim results and raises guidance
Q1-Q2 2009 results highlights (all numbers compared to Q1-Q2 2008):
• Adjusted net profit up 64% to EUR 13 million, equivalent to EUR 1.02 per share
• Adjusted net profit margin up 6 percentage points to 50%
• Raising guidance to a revenue of more than EUR 55 million and an adjusted net profit margin of at least 45%
Hamburg, 13 August, 2009 – Asian Bamboo AG (“Asian Bamboo”, ISIN: DE000A0M6M79, ticker symbol: “5AB”), a world-leading producer of bamboo trees and organic bamboo shoots, increased its revenue for the first half of the year by EUR 7.6 million, or 42%, to EUR 25.8 million (2008 = EUR 18.2 million). The adjusted net profit rose by EUR 5 million, or 64%, to EUR 13 million (2008 = EUR 8 million), which is equivalent to EUR 1.02 per share (2008=EUR 0.62). The sharp rise in the adjusted net profit was mainly a result of an increase in total size of mature plantations by 3,872 ha, or 21% to 22,229 ha, stronger than expected sales, economies of scale and a change in the product mix towards higher margin products.
Mr. Lin Zuojun, CEO and founder of Asian Bamboo, commented: “The revenue and adjusted net profit in the first half of the year has surpassed our expectations. Therefore, I am pleased to announce that we are raising our year-end guidance to a revenue of more than EUR 55 million and an adjusted net profit margin of at least 45%. “
“Looking ahead, compared to the end of 2008, we are on course to double the size of our plantations generating output by 2011, which we expect will lead to a corresponding increase in revenue and adjusted net profit. Longer term, it is our goal to reach a total mature plantation size of 70,000 ha.”, he added.
The Q1-Q2 2009 Interim Report, both in German and English, can be accessed at:
English: http://www.asian-bamboo.de/en/investor_relations/publikationen.html
German: http://www.asian-bamboo.de/de/investor_relations/publikationen.html