DGAP-Adhoc: A.S. Création Tapeten AG: Federal Court of Justice rejects appeal

On October 12, 2017, the Düsseldorf Supreme Court announced the verdict in the ongoing antitrust proceedings and set the fines for A.S. Création Tapeten AG and the persons concerned at a total of EUR 13.9 million. A.S. Création Tapeten AG and the persons concerned had lodged against this verdict appeals with the Federal Court of Justice. Yesterday, A.S. Création Tapeten AG was served with the decision of the Federal Court of Justice, according to which the appeals were rejected. This means that the above verdict by the Düsseldorf Supreme Court is final.

The decision by the Federal Court of Justice has no effect on the earnings position of A.S. Création, as the fines imposed by the Düsseldorf Supreme Court had already been fully expensed in the consolidated financial statements for 2017.

An amount of EUR 2.0 million of the fines imposed has been paid so far, leaving A.S. Création with a payment obligation of EUR 11.9 million as a result of the verdict which has now become final. The consolidated balance sheet of A.S. Création for the period ended June 30, 2019 shows cash and cash equivalents in the amount of EUR 22.6 million, which means that sufficient precautions have been taken for the cash outflow arising from the decision by the Federal Court of Justice.

Gummersbach, August 28, 2019

A.S. Création Tapeten AG

The Managing Board

Contact:
Maik Krämer
Director of Finance and Controlling
Südstr. 47
D-51645 Gummersbach
Phone +49-2261-542 387
Fax +49-2261-542 304
E-Mail: m.kraemer@as-creation.de