12.05.2016
Leifheit Aktiengesellschaft DE0006464506
DGAP-News: Leifheit Aktiengesellschaft: Leifheit continues on path to growth
DGAP-News: Leifheit Aktiengesellschaft / Key word(s): Quarterly / Interim
Statement/Quarter Results
Leifheit Aktiengesellschaft: Leifheit continues on path to growth
12.05.2016 / 09:12
The issuer is solely responsible for the content of this announcement.
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Leifheit continues on path to growth
- Double-digit increase in Group turnover
- Foreign business accelerated
- Brand Business sees significant growth
- EBIT reaches EUR 6.5 million
- Forecast for year as a whole confirmed
Nassau, 12 May 2016 - Leifheit Group generated turnover of EUR 64.7 million
in the first quarter of the 2016 financial year. This represents an
increase of 11.5% over the previous year's figure of EUR 58.1 million. Both
segments - Brand Business and Volume Business contributed to the strong
growth, with each segment recording a double-digit increase in turnover.
The proportion of overall Group turnover represented by both remaining
virtually unchanged. In contrast, the share of foreign turnover increased
by 4.6 percentage points to 56.9%.
According to Thomas Radke, CEO of Leifheit AG, "The first three months of
the financial year have seen our continued progress along our existing path
to growth. We are delighted at the positive performance of our foreign
operations, which can be attributed to the expansion of the geographic
scope of our business in Central and Eastern Europe. We view this
development as an affirmation of the key role which the consistent
implementation of our 'Leifheit 2020' strategy will continue to play in our
sustained growth."
Group EBIT influenced by foreign currency result
The Leifheit Group has also once more made significant strides in terms of
its operating results, largely as a result of contribution margins from
increased turnover in the amount of EUR 3.6 million. However, due to the
performance of the US dollar and the HK dollar as at the end of the
quarter, the Group recorded a negative foreign currency result in the
amount of EUR 1.4 million, after having benefited from a positive foreign
currency result in the amount of EUR 3.2 million in the equivalent quarter
of the previous year. Overall, the Leifheit Group recorded earnings before
interest and taxes (EBIT) in the amount of EUR 6.5 million in the first
quarter of the current year, as compared to EUR 7.5 million in the first
quarter of 2015. The EBIT adjusted for the foreign currency result rose
from EUR 4.3 million to EUR 7.9 million in the first quarter of 2016. The
EBIT margin amounted to 10.0%.
The net result for the period generated by the Leifheit Group amounted to
EUR 4.3 million after taxes, as compared to EUR 5.0 million in the
equivalent period of the previous year.
Brand Business records significant increase in turnover
The turnover of the Leifheit Group's strategically important Brand Business
segment, which comprises the Leifheit and Soehnle brands, increased by
11.6% to EUR 55.2 million in the first quarter of 2016. This sustained
growth was attributable above all to the expansion of the business
activities in the Central Europe region, the Leifheit brand and the dynamic
development of the e-commerce sales channel, which realised an increase in
turnover of approximately 47%. Products marketed under the Leifheit brand
belonging to the cleaning category - in particular, the floor cleaning
product range and the Leifheit window vacuum cleaner - experienced double
digit growth in turnover. Considerable growth was also recorded in the
kitchen goods and laundry care product categories, while the performance of
the wellbeing category, comprising the Soehnle brand, was in line with that
of the equivalent quarter of the previous year, with a growing proportion
of kitchen scales. The share of Group turnover represented by Brand
Business remained virtually unchanged at 85.3%. The segment's EBIT amounted
to EUR 6.0 million in the first quarter, as compared to EUR 5.8 million in
the equivalent period of the previous year.
Volume Business records strong growth in France
As compared to the equivalent quarter of the previous year, Leifheit
succeeded in raising its turnover in the Volume Business segment, which
comprises the subsidiaries Herby and Birambeau and the project business, by
10.5% to EUR 9.5 million. The proportion of Group turnover represented by
this segment remained at 14.7%. The segment benefited from a new customer
for the kitchen products of Birambeau in France, which has been supplying
since the third quarter of 2015. Furthermore, the company was able to
expand its project business in the USA. The segment's EBIT amounted to EUR
0.5 million in the first quarter, as compared to EUR 1.7 million in the
equivalent period of the previous year.
Annual forecast for turnover and result remains unchanged
Leifheit AG continues to expect growth in Group turnover of between 3 and
4% for the 2016 financial year as a whole. The company anticipates that its
Brand Business, which is at the heart of its "Leifheit 2020" strategy, will
record an increase in turnover of between 4 and 5%, while the turnover of
its Volume Business looks sets to remain at the level of the previous year.
Leifheit confirms its forecast for 2016 of earnings before interest and
taxes (EBIT) in the amount of EUR 22 - 23 million including a positive
foreign currency result of around EUR 1 million. The EBIT forecast is based
on rising contribution margins from increased turnover and the positive
effect on result generated by the new distribution centre in the Czech
Republic.
This year's Annual General Meeting to be held in Frankfurt for the first
time
The Annual General Meeting of Leifheit AG for the past 2015 financial year
will be held at the German National Library (Nationalbibliothek) in
Frankfurt on 25 May 2016. "In view of the considerable changes to our
shareholder structure last year in the wake of the sale of the shares of
our long-standing major shareholder, we have decided, for the first time,
to hold this year's Annual General Meeting in Frankfurt. We also will be
offering our shareholders live transmission of the Management Board speech
and other online services for the first time," says Radke.
Further information can be found in the quarterly statement for the period
ending 31 March 2016, 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, www.soehnle.de.
Contact:
Leifheit AG
D-56377 Nassau
[email protected]
+49 2604 977218
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12.05.2016 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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