14.05.2014
Leifheit Aktiengesellschaft DE0006464506
DGAP-News: Leifheit Aktiengesellschaft: Operating results significantly improved with stable sales trend in the first quarter of 2014
DGAP-News: Leifheit Aktiengesellschaft / Key word(s): Quarter Results
Leifheit Aktiengesellschaft: Operating results significantly improved
with stable sales trend in the first quarter of 2014
14.05.2014 / 08:59
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Leifheit AG: Operating results significantly improved with stable sales
trend in the first quarter of 2014
- Group turnover remains stable and reached EUR 55.9 million
- Brand Business turnover increases by 4.1% to EUR 47.0 million
- EBIT rises to EUR 4.0 million
- Liquid funds increase to EUR 53.3 million
Nassau, 14 May 2014 - In the first quarter of 2014, the Leifheit group
achieved a turnover of EUR 55.9 million, a slight increase on the previous
year's turnover of EUR 55.6 million.
The operating results (EBIT) increased to EUR 4.0 million, compared to EUR
2.8 million in first quarter of the previous year. Rigorous cost discipline
and the 2.9 percentage points rise of gross margin to 47.0% both
contributed to this positive development. The EBIT margin reached 7.1%. Net
results for the period amounted to EUR 2.5 million, representing an
increase of EUR 0.7 million. Group liquidity rose by EUR 1.3 million in the
first quarter of 2014, totalling EUR 53.3 million as at 31 March 2014.
"We persisted with the implementation of our strategic measures for the
further development of the Leifheit Group in the first quarter of 2014. Our
Brand Business turnover has increased, and Leifheit also has double-digit
growth rates in the forward-looking e-commerce sector. At the same time, as
announced, we have placed a strong focus on profitability this financial
year", said Thomas Radke, Chairman of the Board of Management of Leifheit
AG.
Sales in Brand Business increasing
In the first quarter of 2014, the Group's Brand Business segment achieved a
turnover of EUR 47.0 million, an increase of 4.1% compared to the same
period of the previous year. While the previous year's figure was unusually
low due to the adverse weather conditions, Leifheit has also had to
compensate for the departure from the market of an important customer in
the home improvement/DIY sector in the first quarter of 2014. The growth
achieved in Brand Business was mainly the result of the cleaning and
laundry care product categories. The proportion of Group turnover
represented by our Brand Business thus grew to 84.2%. The segment EBIT
achieved EUR 3.4 million, compared to EUR 2.5 million in the first quarter
of 2013.
The Volume Business division decreased by 14.8% to EUR 8.9 million. This
decline is connected to the strategic concentration of the Leifheit Group
on Brand Business and consistent management of Volume Business with a
particular emphasis on profitability. Volume Business' share of Group
turnover decreased to 15.8%. However, the segment EBIT increased from EUR
0.3 million to EUR 0.6 million in accordance with the objectives set.
Group forecast: Stable turnover and earnings development in 2014
The forecast for the business development of Leifheit AG remains unchanged
from that stated in the 2013 annual financial report. The Group has
resolved to pursue the conservative goal of stable development in 2014:
Turnover at the adjusted level of 2013 is expected. Furthermore, increased
focus will be placed on Brand Business, and Volume Business will be managed
with a particular emphasis on profitability.
Leifheit therefore anticipates an increase in turnover in its Brand
Business of between 1% and 3% for 2014 as a whole. The company anticipates
a slight decline in the turnover of the Volume Business division. Sales
forecasts will be specified in more detail in the course of the year.
Operating results (EBIT) for 2014 are expected to remain at the strong 2013
level (EUR 14.9 million) as a result of the expected stable development of
turnover and present focus on improving margins whilst exercising
discipline with respect to costs.
In the medium term, Leifheit will continue to pursue the goal of achieving
sustainable and profitable turnover growth of 3 to 5% at Group level while
at the same time striving to attain a strong earnings upturn. Specifically,
this means that a turnover of EUR 250 million and an EBIT margin of 8% are
planned by 2016.
Additional information can be found in the Financial Report for the period
ending 31 March 2014, available at
http://ir.leifheit-group.com/websites/leifheit_ir/English/3100/financial-r
eports.html.
About Leifheit
Founded in 1959, Leifheit AG is one of the leading European brand suppliers
of household items. The company stands for high-quality, innovative
products with great utility and pioneering design in the sectors of
cleaning, laundry care, kitchen goods and wellbeing. Leifheit and Soehnle
are among the best-known brands in Germany. Other than in the Brand
Business, Leifheit AG operates in the service-oriented Volume Business via
its French subsidiaries Birambeau and Herby. Taking into account its
international branches, the Leifheit Group has around 1,000 employees in
total.
Contact:
Leifheit AG
D-56377 Nassau
[email protected]
+49 2604 977218
End of Corporate News
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Language: English
Company: Leifheit Aktiengesellschaft
Leifheitstraße
56377 Nassau / Lahn
Germany
Phone: 02604 977-0
Fax: 02604 977-340
E-mail: [email protected]
Internet: www.leifheit.com
ISIN: DE0006464506
WKN: 646450
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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