DGAP-News: LUDWIG BECK closes a challenging 2019 financial year with sales at the previous year's level
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
/ Key word(s): Annual Results
LUDWIG BECK closes a challenging 2019 financial year with sales at the previous year's level
26.03.2020 / 14:27
The issuer is solely responsible for the content of this announcement.
LUDWIG BECK closes a challenging 2019 financial year with sales at the previous year's level
Munich, March 26, 2020 - In the 2019 financial year, Munich Fashion Group LUDWIG BECK (ISIN DE 0005199905) generated sales at the previous year's level with its remaining business divisions. After the sale of the WORMLAND group division, LUDWIG BECK focused on the core business in the parent company at Marienplatz in Munich.
Development of sales
In the Fiscal Year 2019, LUDWIG BECK generated gross sales of € 95.3m (previous year: € 95.5m). Sales were in line with the management's expectations of between € 94m and € 98m, which management had published for the continued operations after the sale of WORMLAND.
In the "Textile" segment, the Group generated gross sales of € 68.0m (previous year: € 68.2m). In the "Nontextile" segment, which also includes the Beauty online shop at www.ludwigbeck.de, sales of € 27.3m (previous year: € 27.4m) were realized.
In 2019, the entire German textile retail trade was struggling with climatic uncertainties, which, to say the least, caused sales in the fourth quarter with the Christmas business to fall short of expectations due to the mild temperatures. In addition, pressure from textile e-commerce companies on stationary retail has increased further.
Development of earnings
In line with the development of sales at group level, net gross profits of € 38.6m were at the previous year's level (€ 38.7m).
Earnings before interest and taxes (EBIT) amounted to € 7.0m (previous year: € 7.6m).
Due to the first-time impact on earnings from the application of IFRS 16 (Finance Lease) with a total amount of € -0.7m as well as the one-time special charges in connection with the sale of the WORMLAND shares and further restructuring expenses in the amount of € -1.5m, earnings before taxes (EBT) amounted to € 4.6m (previous year: € 6.9m). The result was in line with the management's forecast, which had expected earnings of between € 4m and € 5m from the continuing operations.
Earnings after taxes from discontinued operations amounted to € -17.0m (previous year: € -5.8m). Accordingly, the overall group result was € -13.9m (previous year: € -0.8m).
As of December 31, 2019, the Group's equity totaled € 61.6m (previous year: € 75.8m). The equity ratio was 34.8% (previous year: 59.9%). The equity ratio as of December 31, 2019 was significantly impacted by the first-time application of IFRS 16 in the 2019 financial year. Had the company applied the previous accounting guidelines, the equity ratio would have been 55.3%.
With a balance sheet profit of €0 for the financial year 2019, no dividend will be paid for the fiscal year 2019.
Outlook
In view of the latest developments regarding the spread of the corona virus worldwide and its consequences for the global economy, the German economy, the German retail and LUDWIG BECK in particular, it is not yet possible to estimate the extent to which this will have a negative impact on the economy.
The management of the LUDWIG BECK Group originally expected gross sales of between € 95m and € 97m and earnings before taxes (EBT) of between € 3.5m and € 4.5m for the current fiscal year 2020. Due to the negative effects of the "Corona virus crisis", management is currently unable to provide a reliable forecast for sales and earnings for the 2020 financial year. The extent to which LUDWIG BECK's sales and earnings could be negatively affected by the absence of customers, supplier bottlenecks or possible official orders cannot be estimated as of today.
For further information regarding the company and the shares please refer to the corporate site at http://kaufhaus.ludwigbeck.de.
Key Figures of the Group
in €m |
2019 |
2018 |
Gross sales |
95.3 |
95.5 |
Net sales |
80.1 |
80.3 |
Earnings before interest, taxes, depreciation and amortization (EBITDA) |
12.9 |
10.3 |
Earnings before interest and taxes (EBIT) |
7.0 |
7.6 |
Earnings before taxes (EBT) |
4.6 |
6.9 |
Consolidated net profit/loss from continued activities |
3.4 |
5.0 |
Consolidated net profit/loss from discontinued activities |
-17.0 |
-5.8 |
Consolidated net profit/loss |
-13.9 |
-0.8 |
Equity |
61.6 |
75.8 |
Equity ratio in % |
34.8 |
59.9 |
Capex |
-1.7 |
-2.5 |
Average number of employees without apprentices |
442 |
455 |
Earnings per share (in €) |
-3.68 |
-0.22 |
Contact Investor Relations:
Andre Deubel
t: +49 89 206021 - 745
f: +49 89 206021 - 600
[email protected]
26.03.2020 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 |
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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 |
EQS News ID: |
1008367 |
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End of News |
DGAP News Service |
1008367 26.03.2020
Die wichtigsten Finanzdaten auf einen Blick
|
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
Umsatzerlöse1 |
145,57 |
139,58 |
80,08 |
51,49 |
55,40 |
70,40 |
72,70 |
EBITDA1,2 |
10,93 |
8,40 |
12,89 |
4,33 |
12,99 |
11,27 |
9,94 |
EBITDA-Marge3 |
7,51 |
6,02 |
16,10 |
8,41 |
23,45 |
16,01 |
|
EBIT1,4 |
6,46 |
1,95 |
6,96 |
-1,88 |
6,64 |
4,91 |
3,11 |
EBIT-Marge5 |
4,44 |
1,40 |
8,69 |
-3,65 |
11,99 |
6,97 |
4,28 |
Jahresüberschuss1 |
3,26 |
-0,81 |
-13,59 |
-1,74 |
3,63 |
2,24 |
0,43 |
Netto-Marge6 |
2,24 |
-0,58 |
-16,97 |
-3,38 |
6,55 |
3,18 |
0,59 |
Cashflow1,7 |
8,69 |
4,32 |
7,87 |
-3,50 |
10,24 |
6,88 |
5,76 |
Ergebnis je Aktie8 |
0,88 |
-0,22 |
-3,68 |
-0,47 |
0,98 |
0,60 |
0,12 |
Dividende8 |
0,65 |
0,00 |
0,00 |
0,00 |
0,00 |
0,00 |
0,65 |
Quelle: boersengefluester.de und Firmenangaben
Geschäftsbericht 2023 - Kostenfrei herunterladen. ![](/wp-content/uploads/assets/icon/pdf_24x24.png)
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: BTU Treuhand
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INVESTOR-INFORMATIONEN |
©boersengefluester.de |
Ludwig Beck |
WKN |
Kurs in € |
Einschätzung |
Börsenwert in Mio. € |
519990 |
18,700 |
Halten |
69,10 |
KGV 2025e |
KGV 10Y-Ø |
BGFL-Ratio |
Shiller-KGV |
34,63 |
29,81 |
1,16 |
55,00 |
KBV |
KCV |
KUV |
EV/EBITDA |
1,06 |
12,00 |
0,95 |
17,54 |
Dividende '22 in € |
Dividende '23 in € |
Div.-Rendite '23 in % |
Hauptversammlung |
0,00 |
0,15 |
0,80 |
15.05.2024 |
Q1-Zahlen |
Q2-Zahlen |
Q3-Zahlen |
Bilanz-PK |
18.04.2024 |
18.07.2024 |
17.10.2024 |
21.03.2024 |
Abstand 60Tage-Linie |
Abstand 200Tage-Linie |
Performance YtD |
Performance 52 Wochen |
-11,03% |
-15,92% |
-4,10% |
-23,98% |
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