27.11.2013 Ming Le Sports AG  DE000A1MBEG8

DGAP-Adhoc: Ming Le Sports AG: Increased costs of sales affect profit margins despite strong revenue growth


 
Ming Le Sports AG / Key word(s): Quarter Results 27.11.2013 08:47 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ming Le Sports AG: Increased costs of sales affect profit margins despite strong revenue growth Frankfurt, 27 November 2013 - In the first nine months 2013 Ming Le Sports AG, a rapidly growing branded sportswear company in China, was able to increase its revenues by more than 25 per cent. At the same time profit margins were affected by higher costs of sales resulting from the increased outsourcing of manufacturing to other vendors due to capacity constraints. Ming Le's revenues showed a strong year-on-year growth of 25.5 per cent to 256.6 million Euros (9M 2012: 204.5 million Euros). Measured in RMB, revenues increased by 26.3 per cent. This positive development resulted primarily from higher sales volumes generated from the increased number of authorised retail outlets and increases in the average unit prices. In the first nine months of 2013 Ming Le sold 25.1 million units of footwear and apparels, an increase of 22.2 per cent compared to the previous year. The average unit selling price grew by 3.3 per cent to 11.64 Euros (9M 2012: 11.27 Euros) for footwear products and by 5.0 per cent to 9.70 Euros for apparel products (9M 2012: 9.20 Euros). Gross profit remained almost unchanged amounting to 69.8 million Euros (9M 2012: 70.0 million Euros), representing a slight decrease of 0.3 per cent. Gross profit margin declined from 34.2 per cent in the first nine months 2012 to 27.2 per cent in the same period 2013. This slowdown is mainly attributed to higher costs of sales incurred due to the increased outsourcing of manufacturing to other vendors. As a result, profits of operations (EBIT) also went down by 11.1 per cent to 44.0 million Euros (9M 2012: 49.2 million Euros). EBIT margin fell from 24.1 per cent in 2012 to 17.1 per cent in the first 9 months 2013. Accordingly net profit declined by 23.8 per cent from 43.1 million Euros to 32.9 million Euros in the considered period. This represents a net profit margin of 12.8 per cent (9M 2012: 21.1 per cent). Strong financial position Nevertheless, Ming Le Sports remains financially well-positioned: The company's equity increased by 21.1 per cent from 155.2 million Euros as of December 31, 2012 to 188.0 million Euros as of September 30, 2013. Equity ratio went up to 82.1 per cent (December 31, 2012: 81.9 per cent). Partly revised guidance for the full year 2013 Considering the results of the first nine months 2013, Ming Le Sports stays confident for its future business development. Due to the opening of the new retail outlets and the increased sales orders for the Autumn/Winter 2013 collection, the management expects Ming Le's positive business development to continue in the fourth quarter and anticipates a year-on-year revenue growth of 25 per cent in Euro terms surpassing the 350 million Euro benchmark in 2013. As the pressure on profit margins will continue in the fourth quarter due to the increasing cost of sales, Ming Le has reduced the guidance on the expected net profit margin. For the full year 2013, the company anticipates a net profit margin between 12 and 14 per cent. Following its expansion strategy, Ming Le plans to add 630 stores including 30 self-owned flagship stores to its existing retail network until the end of 2013. By the end of the third quarter 2013 Ming Le had already added 457 stores to its network. As of September 30, 2013, Ming Le's network of 4,247 retail outlets covered 26 provinces across China. The full 9-month report 2013 of Ming Le Sports AG is available on the company website under http://www.mingle-sportswear.com/investor-relations/publications.html. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Ming Le Sports AG Ming Le Sports AG is a rapidly growing branded sportswear company in China targeting 16 to 35-year-old men and women who lead an urban, vibrant and active lifestyle. Ming Le's products include footwear, apparel, accessories and equipment. The company strives to offer comfortable, fashionable and affordable lifestyle and leisure sportswear. Ming Le designs its own products and manufactures them at Ming Le's facilities or through contract manufacturers. Ming Le markets and sells its products through a network of 26 distributors to over 4,200 retail outlets in China. At present, Ming Le has more than 1,400 employees. For further information, please contact: Kirchhoff Consult AG Anja Ben Lekhal Tel: +49(0) 40 609 186 55 Mail: anja.benlekhal@kirchhoff.de Or visit http://www.mingle-sportswear.com 27.11.2013 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: Ming Le Sports AG Westhafenplatz 1 60327 Frankfurt am Main Germany Phone: Fax: E-mail: Internet: www.mingle.cn ISIN: DE000A1MBEG8 WKN: A1MBEG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf End of Announcement DGAP News-Service ---------------------------------------------------------------------------


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023
Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer:

INVESTOR-INFORMATIONEN
©boersengefluester.de
WKN Kurs in € Einschätzung Börsenwert in Mio. €
0,000 0,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 0,00 0,00 0,00
KBV KCV KUV EV/EBITDA
0,00 0,00 0,00 0,00
Dividende '22 in € Dividende '23 in € Div.-Rendite '23
in %
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0,00 0,00 0,00
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,00% 0,00% 0,00% 0,00%
    
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Mode/Textil , A1MBEG