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08 Mar 2007
Zapf Creation achieves EBIT turnaround in 2006
Roedental, March 8, 2007 - Zapf Creation AG, Europe's leading manufacturer of play and functional dolls, today announced that it has achieved a turnaround in terms of its operating result in 2006. The company reported positive earnings for the year. Based on preliminary, un-audited figures, the consolidated earnings before interest and taxes, adjusted for restructuring costs and one-off effects (adjusted EBIT), were € 5.4 million, up from € -6.2 million in the previous year. Including restructuring costs and one-off effects, EBIT almost broke even at € -0.8 million (previous year:€ -12.3 million). Consolidated sales totaled € 116.1 million, down approximately 4% compared to the previous year's figure of € 120.7 million. In the fourth quarter, which is an important quarter for Zapf Creation, the Group grew sales by 10% compared to the same quarter of 2005. The sales and earnings figures presented above do not include operations in the Americas because MGA Entertainment Inc. took over the sale of Zapf Creation products in this region in early 2007, as previously announced. Zapf Creation therefore discontinued its US operations.
Pursuant to IFRS, the final earnings figure for the Americas sales region of
€ -5.3 million (previous year: € -6.9 million) is shown separately under "income and income tax from discontinued operations." Together with the after-tax result from continued operations (€ -6.0 million after € -20.8 million in the previous year), the Group reports a net result for the 2006 financial year of € -11.3 million, which is an improvement of € 16.5 million compared to 2005 (€ -27.7 million).
The final annual financial statements for 2006 will be published on March 28 and explained during the annual financial statements press conference and analyst conference.
Further information:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: +49 (0) 54 04 - 91 92 0
Fax: +49 (0) 54 04 - 91 92 29
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