Shigo Asia AG
Shigo Asia AG: Strong revenue growth despite difficult market environment
Shigo Asia AG / Final Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Revenue up by 59% - Growth in Europe and China exceeded 100% - Positive Outlook for 2009 Hamburg, 8. April 2009. SHIGO ASIA AG, which has a stock market listing in Frankfurt since May 2008, continued to grow in a difficult market environment last year. Revenue went up 59% to EUR 38.3 million and output (number of produced blankets) increased by 66% to 6.3 million pieces. Due to the difficult market environment the company did not completely reach its targeted growth rate of 80%. Especially the sales in Europe and China have shown a strong performance compared to the previous year. Sales in these regions grew by 138% and 101% respectively. The production output increased significantly in 2008 due to successful refurbishment of existing production lines. This refurbishment was achieved with very low capital expenditure. For 2009, the company plans to invest more than EUR 2 million for the equipment reformation at the Linyi production site. This investment will lead to an increase in production capacity of 1 million blankets until the end of the year. Despite current market conditions, Shigo Asia is confident to maintain its double-digit growth in 2009 and beyond. About SHIGO ASIA SHIGO ASIA AG develops, produces and sells household textiles. The company is the third-largest manufacturer of bedspreads in the world. SHIGO has more than 1 400 employees and observes the highest international standards in its production operations in China. SHIGO's competitive strengths are the development of innovative products and modern production technology. High-quality workmanship and lavish design are outstanding features of the textile products, which are optimised on an ongoing basis with the focus primarily on health and comfort. Further information can be found on the company website www.shigo-asia.com. Disclaimer concerning prognoses Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial classification numbers, developments of the financial situation, or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for these forward-looking statements. It is not responsible for updating such information, which only represents the state of affairs on the day of publication. Press inquiries: Kirchhoff Consult AG, Janina Wismar Tel.: +49 40/609186-50, janina.wismar@kirchhoff.de 08.04.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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