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Zapf Creation AG

euro adhoc: Earnings Forecast
Zapf Creation adjusts guidance for 2008 due to weak Christmas business

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
02.12.2008
Zapf Creation AG
Ad hoc release
Rödental, December 2, 2008 - Zapf Creation AG, Europe's leading 
manufacturer of play and functional dolls, today announced that its 
sales in the recently started Christmas business have been 
significantly lower than expected. This development is due to 
considerable consumer restraint in the European core markets in the 
wake of the general economic downturn, particularly in Germany and 
the United Kingdom. Another reason is the increasingly difficult 
situation of the retail trade, which also includes the bankruptcy of 
one important trading partner. These factors have a clearly negative 
impact on the Christmas business, which is of great importance to the
toy industry. Against this backdrop, the Management Board no longer 
expects to meet the sales and earnings targets of the Zapf Creation 
Group for the 2008 financial year as a whole. Instead, based on the 
information available today, the Management Board anticipates a 
slight decline in consolidated sales compared to the previous year 
and negative consolidated after-tax earnings in the lower 
single-digit million euro range.
For further information:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 (0) 54 04 - 91 92 0
Fax: + 49 (0) 54 04 91 92 29
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: Börse Frankfurt / regulated 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

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