Zapf Creation AG

euro adhoc: Financial Figures/Balance Sheet
Zapf Creation AG: Supervisory Board adopts annual financial statements for 2006 upon receiving unqualified auditor's opinion

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annual report

01.10.2007

Roedental, Germany, October 1, 2007 - The Supervisory Board of Zapf Creation AG, Europe's leading manufacturer of play and functional dolls, today adopted the company's annual financial statements for the 2006 financial year. Previously, KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft, Wirtschaftsprüfungsgesellschaft, Nuremberg, Germany, had issued an unqualified auditor's opinion for Zapf Creation's annual financial statements and consolidated financial statements for 2006. The company intends to publish its 2006 annual report later this week.

According to the audited financial statements, the Zapf Creation Group reports a net result for 2006 (result after taxes) of EUR -12.7 million (previous year: EUR -27.7 million). The difference compared to the preliminary result of EUR -11.3 million for the 2006 financial year that was announced on March 8, 2007, is due to expenses arising from a tax audit of the period from 1999 through 2002, which has been completed in the meantime, as well as allowances for receivables related to the company's US activities, which were discontinued as of the end of 2006. Consolidated earnings before interest and taxes (EBIT), adjusted for restructuring costs and one-off expenses, improved from EUR -6.2 million to EUR 5.4 million. Consolidated sales were EUR 116.1 million, down four percent from EUR 120.7 million in 2005.

The Management Board now aims to rapidly implement the Group's long-term financing structure that was agreed to on July 20, 2007. It provides for a new syndicated loan of EUR 65 million, as well as an equity contribution of EUR 30 million that is guaranteed by some of the company's major shareholders. The syndicate extended its initial deadline for this equity contribution from October 31, 2007, to November 30, 2007. Simultaneously, the previous syndicate agreed to extend the grace period for repayment of the extant syndicated loan of EUR 45 million from October 31, 2007, to November 30, 2007. Plans are to raise equity by issuing 3.2 million new shares under the extant authorized capital; shareholders will be able to exercise their subscription right. Additional details regarding the capital increase will be announced shortly.

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ots Originaltext: Zapf Creation AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: + 49 54 04 91 92 0  
Fax: + 49 54 04 91 92 29

Branche: Consumer Goods
ISIN:      DE0007806002
WKN:        780600
Index:    CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / official 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



Weitere Meldungen: Zapf Creation AG

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