25.07.2018
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG DE0005199905
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK's result in the first six months falls within the forecast range
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s):
Half Year Results/Forecast
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK's result in
the first six months falls within the forecast range
25.07.2018 / 08:00
The issuer is solely responsible for the content of this announcement.
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Corporate News
LUDWIG BECK's result in the first six months falls within the forecast range
Munich, July 25, 2018 - The Munich Fashion Group LUDWIG BECK (ISIN DE
0005199905) concluded the first half of the year 2018 with a decline in
sales reflecting the current sector development. Cold weather at the
beginning of spring and midsummer temperatures in April were the main
factors putting pressure on sales volumes nationwide. In addition, the
stationary fashion trade lost further market shares to online stores.
However, through moderate price reductions and an efficient cost structure,
the result could nevertheless be maintained at a high level.
Development of sales
The LUDWIG BECK Group generated gross sales in the amount of EUR 73.2m (June
30, 2017: EUR 77.1m). The LUDWIG BECK segment accounted for sales in the
amount of EUR 41.3m in aggregate (June 30, 2017: EUR 43.2m). Also in the
first half of 2018, the online trade at www.ludwigbeck.de continued to
perform according to the management's positive expectations. The WORMLAND
segment contributed to Group sales with a sales volume of EUR 32.0m (June
30, 2017: EUR 33.9m).
Earnings situation
Gross profit amounted to EUR 29.4m in the first half of 2018 (June 30, 2017:
EUR 30.7m). The gross profit margin was slightly improved from 47.4% to
47.7% as compared to the previous year.
Personnel expenses sank from EUR 14.7m in the previous year to EUR 14.6m in
the period under report. Other operating income came to EUR 1.9m (June 30,
2017: EUR 1.7m).
On account of the decline in sales, earnings before interest and taxes
(EBIT) amounted to
EUR -2.2m (June 30, 2017: EUR -1.6m). The LUDWIG BECK segment contributed
positively to this result with earnings in the amount of EUR 0.8m (June 30,
2017: EUR 1.4m), while the WORMLAND segment recorded a negative amount of
EUR -3.0m (June 30, 2017: EUR -3.1m).
Accordingly, the consolidated earnings before taxes (EBT) was EUR -2.6m
(June 30, 2017:
EUR -2.1m).
Outlook
LUDWIG BECK is unabatedly rising to the occasion of having to come to terms
with the continuing structural changes besetting the German fashion trade.
To that effect, the management relies on the company's sound foundations and
its talent to methodically implement success strategies in times of change.
These include further enhancing the experiential value of the shopping
ambience, focusing on core target groups and services which online traders
cannot provide, and integrating stationary and online trade across all
channels - areas, in which the Group has traditionally excelled and
established a solid market position.
Dieter Münch, member of the Executive Board of LUDWIG BECK AG: This year is
by no means a self-runner. Yet, we will play to the strengths of LUDWIG BECK
also in 2018 in order to achieve our set goal.
Consequently, the Executive Board reaffirms its projections for the future
business development in 2018 and expects gross sales at Group level to range
between EUR 170m and EUR 180m and the EBIT margin to settle between 3.5% and
5% of net sales.
The comprehensive Half-Year Report for the fiscal year 2018 is published
online at the company's website https://kaufhaus.ludwigbeck.de/en/home under
Investor Relations in the Financial Publications sector under the heading
Quarterly Reports.
Key figures of the Group
in EURm 1/1/2018 - 1/1/2017 -
6/30/2018 6/30/2017
Gross sales 73.2 77.1
Net sales 61.6 64.8
Earnings before interest, taxes, -0.1 0.6
depreciation and amortization (EBITDA)
Earnings before interest and taxes -2.2 -1.6
(EBIT)
Earnings before taxes (EBT) -2.6 -2.1
Earnings after taxes -2.6 -2.3
Equity (as per reporting date 6/30) 74.2 74.0
Equity ratio in % (as per reporting date 57.0 55.7
6/30)
Earnings per share (in EUR) -0.69 -0.62
Investments 0.9 1.3
Employees (average number without 880 849
apprentices)
Apprentices (average number) 38 36
About LUDWIG BECK
LUDWIG BECK is one of the top fashion retail companies in Germany. In 2017
with 451 employees it generated gross sales of EUR 99.0m (as per December
31, 2017) on an area of about 12,400 sqm.
LUDWIG BECK is located in the heart of Munich, directly at Marienplatz. On
seven floors the Munich fashion company showcases international fashion,
leather goods and accessories, exclusive cosmetics and with over 120,000
titles Europe's largest onsite collection of classical, jazz and world music
and audiobooks.
About ludwigbeck.de
Since the end of 2012, the singular brand portfolio of the beauty department
is also available for online shopping at www.ludwigbeck.de. Customers can
expect a unique selection of almost 10.000 products of more than 100 luxury
and niche cosmetics brands.
About WORMLAND:
THEO WORMLAND GmbH & Co. KG, based in Hanover, generated sales in the amount
of
EUR 74.2m (as per December 31, 2017) with 417 employees on a total area of
about 16,200 sqm in 2017. The Group is based on two differing store
concepts: WORMLAND and THEO. Today, THEO WORMLAND GmbH & Co. KG ranges among
Germany's top men's fashion retailers with a total of 15 stores.
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021 - 210
f: +49 89 206021 - 610
[email protected]
Group Accounting contact:
LUDWIG BECK AG
Jens Schott
t: +49 89 23691 - 798
f: +49 89 23691 - 600
[email protected]
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25.07.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Marienplatz 11
80331 München
Germany
Phone: +49 (0)89 2 36 91-0
Fax: +49 (0)89 2 36 91-600
E-mail: [email protected]
Internet: www.ludwigbeck.de
ISIN: DE0005199905
WKN: 519990
Listed: Regulated Market in Frankfurt (Prime Standard), Munich;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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707511 25.07.2018
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