Profit after tax is EUR 39.7 million, compared to EUR 28.2 million the previous year. The company has also seen a strong growth of 40.7% for the twelve months ended 31 December 2014 as compared to the corresponding period.

Double-digit growth rates

All product categories, except OEM production, have recorded double-digit growth rates as a result of increased marketing efforts and strong customer demand. The Group’s gross profit margin in 2014 saw a slight increase to 39.5% from 38.7% in fiscal year 2013.

Net cash inflow from operating activities for fiscal year 2014 was EUR 30.8 million (previous year: EUR 5.8 million). On 31 December 2014, Snowbird's cash and cash equivalents amounted to EUR 56.7 million (31 December 2013: EUR 16.8 million).

The Company’s equity amounted to EUR 126.8 million, compared to EUR 67.6 million on 31 December 2013. This results in an equity ratio of 72.2%.

Highlights of fiscal 2014

Building and ramp up of new down production facility in Puyang, Henan Province, China, with an annual production capacity of 3,300 tons high quality down, has been one of the company’s highlights for the fiscal year 2014.

Operations started in the first quarter of 2015 at the new and modern sewing plant with a current production capacity of additional 2.5 million pieces per year. The headquarters that were built in 2014 next to the production facility hosting sales and administration departments, as well as Research & Development, also started operations in March 2015.

Outlook

“Besides growing our group sales revenues at continuing high margins, the successful IPO in Frankfurt was the most important event in fiscal year 2014,” commented Changzai Yan, Chief Executive Officer of Snowbird AG.

“With the IPO we have increased the awareness for our products in Asia and simultaneously have created a sound basis for new sales possibilities in Europe. Together with our skilled employees we will continue to emphasize on innovation, value added product development and continuous improvement in production efficiency.”

www.snowbird-ag.com