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Zapf Creation AG

EANS-Adhoc: Zapf Creation AG
Development of the Zapf Creation Group's business in 2009 impacted by sluggish demand for play and functional dolls

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
Preliminary financial figures 2009
19.02.2010
Roedental, February 19, 2010 - The Zapf Creation Group today 
announced that it has accelerated its strategic development from a 
doll manufacturer to a provider of branded girls' toys in 2009. 
However, the development of revenue and earnings was adversely 
affected by the declining demand for dolls particularly in the 
important fourth quarter. According to preliminary figures, 
consolidated revenue in the 2009 financial year was EUR 78.8 million,
down 24.5% from the previous year's figure of EUR 104.4 million.
Total operating expenses fell by 16.3% in 2009 compared to the 
previous year while finance costs decreased 26.1% year on year. The 
streamlined cost management was unable to fully offset the decline in
revenue. Consolidated earnings before interest and taxes (EBIT) were 
EUR -3.4 million in 2009, down from EUR 1.3 million the previous 
year. This amount does not yet contain a possible payment obligation 
in the amount of EUR 0.9 million under a licensing agreement with MGA
Entertainment, Inc. that has not yet taken effect. The consolidated 
net loss after taxes was EUR 9.0 million (2008: EUR 6.3 million). 
Adjusted for an extraordinary, non-cash effect from provisions for 
taxes related to the Group's Hong Kong subsidiary, the loss for the 
period in the financial year just ended was EUR 8.1 million.
The operating cash flow was positive in 2009, climbing significantly 
to EUR 8.6 million (2008: EUR 1.1 million).
The Zapf Creation Group will continue optimizing its structures and 
streamlining its cost management in 2010. The changes in the 
composition of the Management Board that were announced on January 
29, 2010, ensure that the Group will be in a position to swiftly 
achieve additional efficiency gains. The Group also intends to 
further push the development of innovative girls' toys. Based on the 
positive response of retailers to the product innovations and the 
potential offered by the cooperation with the Disney Group, the 
Management Board is confident that the new products will noticeably 
stimulate business in 2010.
end of announcement                               euro adhoc

Further inquiry note:

Katrin Kühnel
Telefon: +49 (0)9563-7251-513
E-Mail: katrin.kuehnel@zapf-creation.de

Branche: Consumer Goods
ISIN: DE0007806002
WKN: 780600
Index: MDAX, CDAX, Classic All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

Plus de actualités: Zapf Creation AG
Plus de actualités: Zapf Creation AG