DGAP-Adhoc: Upward corrections to Asian Bamboo's Q1-Q2 2012 cash flow statement

Asian Bamboo AG  / Key word(s): Quarter Results

23.08.2012 07:09

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Hamburg, 23 August 2012 - Asian Bamboo AG ('Asian Bamboo', 'the Company',
ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), a
world-leading integrated company in the bamboo industry, hereby makes the
following significant upward corrections to the Company's Q1-Q2 2012 cash
flow statement as presented in the Q2 quarterly report, and the related ad
hoc announcement, which were released on 14 August 2012. The previous error
was caused by using an incorrect number for 'Decreases due to harvest' of
kEUR 15,717, while the correct number should be kEUR 25,634. The correct
number was used in the calculation of cost of goods sold and in the FVBA*
calculation, hence the correction of the error only relates to the cash
flow statement. The changes in the cash flow statement as a result of
correcting the error are:

* Operating cash flow before working capital changes corrected from kEUR
5,536 to kEUR 15,453 (Q1-Q2 2011: kEUR 27,355) resulting in a year-on-year
decrease of 44%
* Net cash generated from operating activities corrected from kEUR 11,365
to kEUR 21,282 (Q1-Q2 2011: kEUR 17,600) resulting in a year-on-year
increase of 21%
* Net increase in cash and cash equivalents corrected from kEUR 3,992 to
kEUR 13,909
* Foreign exchange differences corrected from kEUR 11,500 to kEUR 1,583

*FVBA is an abbreviation for gains/(losses) arising from changes in the
fair value less estimated costs to sell of biological assets

A corrected Q2 2012 quarterly report can be downloaded from the Company's
web-site at www.asian-bamboo.com or from Deutsche Boerse's web-site.

The Management Board apologises for the mistake, which was caused by human
error.

For enquiries, please contact: 

Asian Bamboo AG:

Peter Sjovall   +852-9385 3868
Chief Financial Officer  peter.sjovall@asian-bamboo.com

Anja Holst  +49-(0)40 37644 798
Investor Relations Director anja.holst@asian-bamboo.com


23.08.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Asian Bamboo AG
              Stadthausbrücke 1-3
              20355 Hamburg
              Germany
Phone:        +49 40 37644 798
Fax:          +49 40 37644 500
E-mail:       info@asian-bamboo.de
Internet:     www.asian-bamboo.de
ISIN:         DE000A0M6M79, DE000A0M6M79
WKN:          A0M6M7, A0M6M7
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------