15.05.2018
Leifheit Aktiengesellschaft DE0006464506
DGAP-News: Leifheit Aktiengesellschaft: Group turnover almost on a par with the previous year
DGAP-News: Leifheit Aktiengesellschaft / Key word(s): Quarterly / Interim
Statement/Quarter Results
Leifheit Aktiengesellschaft: Group turnover almost on a par with the
previous year
15.05.2018 / 08:40
The issuer is solely responsible for the content of this announcement.
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Leifheit AG: Group turnover almost on a par with the previous year
- Strong growth in Germany despite unfavourable weather conditions
- Brand Business increases
- Volume Business down year on year
- Forecast 2018 slightly adjusted
Nassau, 15 May 2018 - The Leifheit Group concluded the first quarter of
financial year 2018 with stable year-on-year turnover in spite of
unfavourable weather conditions. Group turnover fell only just short of the
previous year at EUR 62.2 million (previous year: EUR 62.5 million). Strong
growth in Germany was not able to fully compensate for the decline in
business in Central and Eastern Europe. Earnings before interest and taxes
(EBIT) declined slightly by EUR 0.4 million to EUR 4.7 million (previous
year: EUR 5.1 million).
Substantial growth in Germany business
Leifheit further expanded its position in Germany in the first quarter of
2018 despite the unfavourable weather conditions in March. Group turnover in
Leifheit's domestic market grew by 4.9% to EUR 30.3 million (previous year:
EUR 28.9 million) while the share of overall turnover attributed to Germany
business increased to 48.7% (previous year: 46.2%). The company particularly
benefited from product innovations such as the new Leifheit Regulus PowerVac
2in1 Cordless Vacuum Cleaner and Soehnle Connect products.
By contrast, the Group recorded a decline in turnover to EUR 31.9 million
(previous year: EUR 33.6 million) in its international business. This was
due to a lack of sales volumes in Central and Eastern Europe. In the first
quarter of the previous year significant brand-building activities led to
substantial growth in Eastern Europe. Similar programmes are planned for
upcoming quarters.
Brand Business involving the Leifheit and Soehnle brands closed the first
quarter of 2018 with a slight rise in turnover of 0.3% at EUR 52.8 million
(previous year: EUR 52.7 million). Product innovations and the strong
results in Germany and France contributed in particular to this growth
trend. Significant turnover growth was recorded in the laundry care and
wellbeing product categories. However, turnover in the cleaning and kitchen
categories failed to match the previous year's figures.
In the smaller Volume Business, which is managed with a focus on
profitability, turnover fell by 4.1% to EUR 9.4 million. Strong turnover
growth in Germany was not able to fully compensate for the lack of sales
volumes for Herby laundry care products in France. That being said, turnover
involving Birambeau kitchen products in France and steam iron products in
the laundry care category developed positively.
In the first quarter of 2018, the Leifheit Group posted EBIT of EUR 4.7
million (previous year: EUR 5.1 million). The EUR 0.4 million decline was
due to a decline in gross profit caused by currency effects and increased
material costs. Improvements in the areas of distribution costs and
administrative costs were unable to fully compensate for this trend. The
EBIT margin was down year on year at 7.5% (8.2%) and fell just short of the
long-term target corridor of 8%. The Leifheit Group generated a net result
for the period of EUR 3.1 million (previous year: EUR 3.4 million) in the
first quarter of 2018.
"We once again expanded our position in our core market of Germany and
therefore also our Brand Business in the first quarter of 2018, in spite of
unfavourable weather conditions for our business in March," said Thomas
Radke, Chairman of the Board of Management of Leifheit AG. "The
reorganisation of the sales force in our Brand Business is already bearing
fruit, while our product innovations are making an ever-increasing
contribution to company turnover. Nevertheless our business in Central
Europe and in specialty trade remained behind our expectations. We are
getting on with implementing our amended 'Leifheit 2020' strategy to respond
to changing market conditions and return to broader, sustainable growth."
2018 forecast slightly adjusted
For Business year 2018 the Group expects to generate a turnover growth
slightly below the forecast of around 4% to 5%. After some weaknesses in
March respectively in Central Europe, the Board of Management will analyse
the further Business development very carefully and will concretise the
turnover forecast for the half year reporting. EBIT for the financial year
2018 is expected to be at the lower end of the forecast of around EUR 17
million to EUR 18 million.
Additional information can be found in the quarterly statement for the
period ending 31 March 2018, 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 functional 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 1,100 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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15.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Leifheit Aktiengesellschaft
Leifheitstraße
56377 Nassau
Germany
Phone: 02604 977-0
Fax: 02604 977-340
E-mail: [email protected]
Internet: www.leifheit-group.com
ISIN: DE0006464506
WKN: 646450
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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