31.03.2016
Leifheit Aktiengesellschaft DE0006464506
DGAP-News: Leifheit Aktiengesellschaft: Leifheit proposes increased dividend of EUR 2.00 plus special dividend of EUR 0.75 per share
DGAP-News: Leifheit Aktiengesellschaft / Key word(s): Final Results/Dividend
Leifheit Aktiengesellschaft: Leifheit proposes increased dividend of EUR
2.00 plus special dividend of EUR 0.75 per share
31.03.2016 / 10:29
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Leifheit proposes increased dividend of EUR 2.00 plus special dividend of
EUR 0.75 per share
- Growth in turnover of 5%
- EBIT of EUR 21.7 million exceeds earnings forecast
- "Leifheit 2020" strategy already bearing fruit
- Adapted dividend policy
- Outlook for 2016: Solid growth in turnover and result expected
Nassau, 31 March 2016 - The Leifheit Group ended the 2015 financial year
with higher turnover and a slightly improved result (EBIT) as compared to
the previous year. Group turnover amounted to EUR 231.8 million, which
represents a 5.0% increase over the previous year.
Strategically significant Brand Business also experienced considerable
growth in 2015
The turnover of our Brand Business, which comprises the Leifheit and
Soehnle brands, increased by 4.3% to EUR 188.1 million as of the end of the
financial year. This continual growth is principally due to increasing
demand for Leifheit branded products, primarily in the cleaning category,
and being bolstered by renewed growth in double-digit amounts in the
context of the e-commerce sales channel.
The turnover of the significantly smaller Volume Business rose by 8.6% to
EUR 43.7 million, with this segment having benefited from the strong growth
recorded in the kitchen goods and laundry care product categories in
France, largely as a result of the first-time furnishing of a newly
acquired commercial customer with Birambeau kitchen products.
With regard to its earnings before interest and taxes (EBIT) in the amount
of EUR 21.7 million, the Leifheit Group recorded a slight increase over the
figure for the previous year (EUR 21.5 million), in spite of significantly
lower foreign currency gains. The EBIT margin realised was 9.3%, as
compared to 9.8% in 2014. The EBIT adjusted for the foreign currency result
rose by EUR 2.8 million to EUR 19.2 million and the adjusted margin by
approximately one percentage point to 8.3%. The Leifheit Group's net result
for the period, after deduction of taxes, amounted to EUR 14.3 million,
having increased slightly from EUR 14.1 million in the previous year.
As at 31 December 2015, Leifheit had Group liquidity in the amount of EUR
68.2 million, with this increase in liquid funds of EUR 5.4 million over
the previous year being primarily due to the cash flow from operating
activities in the amount of EUR 20.8 million. The equity ratio continued to
improve, rising to 44.9% as of the end of the 2015 financial year from
42.5% as at the balance sheet date for 2014.
Shareholder oriented dividend policy adapted
"The consistent implementation of our 'Leifheit 2020' strategy has already
enabled us, in the first year of its application, to generate new and
positive impetus, which has also had an impact on the market. In light of
our positive business performance we will be proposing the payment of an
increased dividend in the amount of EUR 2.00 (previous year: EUR 1.80) per
share to the Annual General Meeting. In addition, due to our good liquidity
we will be proposing a special dividend of EUR 0.75 per share" says Thomas
Radke, CEO of Leifheit AG,
In principle the dividend policy provides for distributing around 75% of
the net result for the period or the free cash flow of a financial year to
shareholders as ordinary dividends. In addition Leifheit will in future
consider the distribution of special dividends, if year-end Group liquidity
exceeds the expected liquidity needs for potential M&A activities and for
seasonal fluctuations of working capital in the amount of approx. EUR 55
million, as well as for dividends pay-out for the previous financial year.
This was decided by the Management Board and the Supervisory Board in its
recent meeting. "Our new dividend policy secures our financial flexibility
for potential M&A transactions and is at the same time the expression of
our shareholder oriented corporate management", says Dr Claus-O. Zacharias,
CFO of Leifheit AG.
Outlook for 2016: Solid growth in turnover and result
The focus of the Management Board of Leifheit AG in the current business
year remains on the implementation of the Group's strategy "Leifheit 2020",
in particular by means of the expansion of its activities at the
international markets and the further development of its product portfolio.
The Leifheit Group aims to increase its turnover by between 3% and 4% in
2016, anticipating growth of between 4% and 5% in its Brand Business and
turnover for its Volume Business in line with that for 2015. The company
expects Group result (EBIT) of between EUR 22 million and EUR 23 million.
Further information can be found in the Leifheit annual financial report
for 2015, which is available at
http://financial-reports.leifheit-group.com.
About Leifheit
Leifheit AG, founded in 1959, 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. In addition to the
Brand Business, Leifheit AG operates in the service-oriented Volume
Business via its French subsidiaries Birambeau and Herby. The Leifheit
Group and its international branches combined have around 1,000 employees.
More information on Leifheit is available online at www.leifheit-group.com,
www.leifheit.de and www.soehnle.de.
Contact:
Leifheit AG
D-56377 Nassau
[email protected]
+49 2604 977218
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31.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News Service
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450041 31.03.2016
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