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Goldrooster AG announces strong growth in revenue and earnings after first nine months of 2013
Revenue up 24.4 percent to EUR 136.2 Million / Net profit also improves by 24.4 percent to EUR 20.9 Million / Earnings per share at EUR 1.01, up from EUR 0.83
Gross profit rose by 24.3 percent to EUR 38.1 million from January to September 2013. Goldrooster once again expanded its sales network considerably: At the end of September 2013, the company's products were sold through 1,652 retail outlets - an increase of 135 compared with the end of December 2012.
The strong growth and expanded marketing and sales activities reduced cash and cash equivalents to EUR 46.0 million at the end of September 2013 after EUR 50.9 million at the end of December 2012. Equity increased by 35.2 percent to EUR 81.1 million, up from EUR 60.0 million at the end of 2012. This corresponds to an equity ratio of 80.5 percent compared with 74.2 percent at the end of December 2012. The net asset value (NAV) per share was EUR 3.92 after EUR 2.90 at the end of 2012.
Based on its book orders, Goldrooster anticipates a renewed positive business performance in the full 2013 financial year. Due to the macro environment (i.e. slowdown in China's economy) and the intense competition faced by the sportswear industry, Goldrooster expects its growth rate to slow down in 2014 without having any adverse impact on its profitability.
Goldrooster also announces that Mr Ashley Soh, CFO of Goldrooster, will leave the company by amicable mutual agreement with the effect of 31 December 2013. The successor of Ashley Soh will be Mr Vincent Lim, who was appointed by the supervisory board on 7 November 2013 with the effect of 15 November 2013, in order to allow for a smooth handover during the transition period. Mr Lim, a Singapore national aged 35, has a strong audit background having previously worked for international audit firms. Ashley Soh will be leaving the company to pursue new challenges and the management and supervisory board wish him all the best in his future endeavors and thank him for his outstanding work.
This publication constitutes neither an offer to sell nor a solicitation to buy securities of Goldrooster AG. The shares have been offered solely by means of, and on the basis of, the published securities prospectus. The securities prospectus is available on the Company's website (www.goldrooster.de).
This document is not an offer of securities for sale or a solicitation of an offer to buy securities in the United States. The shares of Goldrooster AG ('Shares') have not been registered under the U.S. Securities Act of 1933, as amended ('Securities Act') and may not be offered or sold in the United States, unless registered under the Securities Act or according to an exemption from such registration. There will not be any public offering of the Shares in the United States and the Shares will not be registered under the Securities Act.
This document is only aimed at and is only distributed to (i) individuals outside the United Kingdom, or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ('Order') or (iii) high net worth entities, and other individuals to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (together referred to as 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, buy or otherwise acquire such securities will be engaged in only with, relevant persons. Any individual who is not a relevant person should not act or rely on this document or any of its contents.
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