DGAP-News: Weng Fine Art AG / Key word(s): Development of Sales/Miscellaneous

2015-07-15 / 09:00

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PRESS RELEASE | 15 JULY 2015

Weng Fine Art AG sales jump in first half of 2015

- Turnaround comes before end of transformation phase, significantly     earlier than previously expected

- Revitalization of the art market in the middle segment
- First sales of WFA Online help improving group sales
Weng Fine Art AG (WFA) had a very successful start to the fiscal year 2015: At mid-year the turnover is more than 30% higher than the revenues of the same period last year. In addition the trade margin has increased in double digits. Therefore, the profits for the group - even when considering the start-up costs in Switzerland for WFA Online AG - will increase significantly over the previous year.

"After focusing on the strategic development of the company in Germany during 2013 and 2014 and accepting temporary losses in revenues and profits during this period, business is now clearly on the way up again," summarizes WFA CEO and company founder Rüdiger K. Weng. That the turnaround was achieved before the end of the transition period, is mainly due to the B2B trading business: The sentiment in the middle market sector has improved recently, following several years of a slight downward trend.
Moreover, WFA Online AG, the subsidiary set up only a year ago delivers its first significant revenue contributions. The company started its sales activities in late May, and has exceeded the forecasted revenues since then. The e-commerce offering is very well accepted in the art market and therefore an excellent complement to the core business of the group.
Detailed information on the overall strategy and the prospects of the WFA group will be given to the shareholders at the Annual General Meeting, which will take place in Krefeld on 21 September.

ABOUT WENG FINE ART AG

Weng Fine Art AG (www.wengfineart.com), with subsidiaries in Germany and Switzerland, is a leading internationally operating art dealing and art service company. The founder-led company combines a long-term expertise in the art market with economic know-how. Other factors of success are the large inventory of artworks of the 20 and 21st century as well as the access to attractive funding. In addition to the traditional art dealing activities the company targets a leading role in the art e-commerce. Market know-how, the lack of competition and the comprehensive company-owned stock of high quality artworks will be the key to success of WFA Online AG in this segment. The shares of Weng Fine Art AG are listed in the Entry Standard of the Frankfurt stock exchange.

Weng Fine Art AG
Rüdiger K. Weng, CEO
Kimplerstrasse 294 | 47807 Krefeld | Germany
Phone +49 (0)2151 93713-0 | Fax +49 (0)2151 93713-29 E-mail rkweng@wengfineart.com



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2015-07-15 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English Company: Weng Fine Art AG Kimplerstraße 294 47807 Krefeld Germany Phone: 02151 937130 Fax: 02151 93713-29 E-mail: art@wengfineart.com Internet: www.wengfineart.com ISIN: DE0005181606 WKN: 518160 Listed: Regulated Unofficial Market in Berlin; Open Market (Entry Standard) in Frankfurt  
 
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