30.03.2015
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG DE0005199905
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK still on growth track in 2014 despite negative branch trend - Executive and supervisory board proposes to increase the dividend by 50% to EUR 0.75 (previous year: EUR 0.50)
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Final Results/Final Results
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK still
on growth track in 2014 despite negative branch trend - Executive and
supervisory board proposes to increase the dividend by 50% to EUR 0.75
(previous year: EUR 0.50)
30.03.2015 / 14:51
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Corporate News
LUDWIG BECK still on growth track in 2014 despite negative branch trend -
Executive and supervisory board proposes to increase the dividend by 50% to
EUR 0.75 (previous year: EUR 0.50)
Munich, March 30, 2015 - The Munich fashion group LUDWIG BECK (ISIN DE
0005199905) remained on its growth track in the fiscal year 2014. The Group
was thus able to further pursue its course of stability, and to
successfully defy problematic factors like counter-cyclical weather
patterns, a decline in tourist visits from Eastern Europe or protracted
construction works on the mezzanine subway/suburban train level at Munich's
Marienplatz.
"The year 2014 has shown that we are well capable of coping with and
absorbing the impacts of a whole range of negative events. This gives us
the leverage to further expand our market position", notes Dieter Münch,
member of the Executive Board of LUDWIG BECK AG. "We will embark on this
path also in 2015".
Development of sales
In 2014, the Group generated gross sales of EUR 102.7m as compared to EUR
102.1m in the previous year. This equals a 0.5% increase. The online shop
at www.ludwigbeck.de proved to be a safe bet for continuous sales growth
with a lot of further development potential. Germany's textile retail
sector closed the 2014 fiscal year with a 3% sales decline.
Earnings situation
Earnings before interest and taxes (EBIT) amounted to EUR 10.6m (previous
year: EUR 12.3m). The EBIT margin was at 12.3% as compared to 14.4% in the
previous year.
Earnings before taxes (EBT) came to EUR 9.5m (previous year: EUR 10.8m).
The EBT margin was 11.0% (previous year: 12.6%). Taxes on income totaled
EUR 2.8m (previous year: EUR 3.4m).
Accordingly, consolidated net profits amounted to EUR 6.7m (previous year:
EUR 7.4m). The result yielded in the fiscal year 2014 thus remained at a
high level even though it could not quite match last year's result on
account of the aforementioned special items.
A key component in 2014 was the investment amount of EUR 6.5m (previous
year: EUR 3.2m). The major part of the investment total was channeled into
the expansion and remodeling of the Men's Fashion department on the lower
ground floor - one of the most extensive construction projects ever
realized in the company's recent history.
Equity rose from EUR 64.4m to EUR 67.2m in the 2014 fiscal year. Major
influential factors were the positive 2014 result and the dividend payout
for 2013 resolved by the Annual General Meeting on May 8, 2014. The equity
ratio came to 60.5% (previous year: 60.6%).
Dividend payment
The Executive Board and the Supervisory Board will propose to the Annual
General Meeting on May 13, 2015 to distribute a dividend of EUR 0.75 per
no-par share entitled to profit. Last year's dividend was EUR 0.50 per
share. This is a way for the Group to assure shareholders that it will use
its best efforts to reinforce and stabilize the value of the LUDWIG BECK
share as an attractive investment and to let investors benefit from the
achieved yields level.
Outlook
Leading economic researchers expect the German economy to continue on its
growth trajectory in 2015 with the consumer climate remaining on a high
level and the purchasing power of consumers enhanced as a result of higher
net income and the low oil price.
While the management of LUDWIG BECK backs up these favorable economic
forecasts, it nevertheless expects the crises of the year 2014 to further
weigh heavily on the progress of the German textile retail sector. However,
the positive economic prospects for Germany together with the expected
stable consumer spending will form a sound and sustainable basis for a
healthy business development.
Confident of this, the Executive Board anticipates an increase in
consolidated sales between 2% and 4%, and earnings before interest and
taxes (EBIT) of approximately EUR 10m in the fiscal year 2015.
For more information about the company and its stock please visit the
company website at www.ludwigbeck.de/english.
Key figures of the Group
in EURm 2014 2013 Gross sales 102.7 102.1 Net sales 86.3 85.8 Earnings before interest, taxes and depreciation (EBITDA) 13.4 15.1 Earnings before interest and taxes (EBIT) 10.6 12.3 Earnings before taxes (EBT) 9.5 10.8 Consolidated net profit 6.7 7.4 Equity 67.2 64.4 Equity ratio in % 60.5 60.6 Investments 6.5 3.2 Employees (persons)1) 478 463 Earnings per share (in EUR) 1.81 2.00 Dividend (in EUR) 0.75 0.501) without apprentices About LUDWIG BECK The Munich fashion group is one of the top fashion retail companies in Germany. With approximately 500 employees on an area of about 12,400 sqm, it generates EUR 102.7m in group sales (as of December 31, 2014). LUDWIG BECK is located right at Marienplatz in the heart of Munich. On seven floors LUDWIG BECK presents international fashion, leather goods, accessories and exclusive cosmetics. With more than 120,000 songs it offers the biggest collection of classical music, jazz, world music and audio books of any in-store location in Europe. Since the end of 2012, LUDWIG BECK has offered the extraordinary brand portfolio of its beauty department also online at www.ludwigbeck.de. A unique selection of almost 10,000 products featuring more than 100 luxury and niche cosmetics brands awaits online customers. 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] --------------------------------------------------------------------- 30.03.2015 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. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 End of News DGAP News-Service --------------------------------------------------------------------- 338931 30.03.2015
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