26.04.2016
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG DE0005199905
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group closes first quarter of 2016 with a growth in sales and gross profit - Correction - Integration of WORMLAND is progressing well
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s):
Quarterly / Interim Statement/Quarter Results
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group closes
first quarter of 2016 with a growth in sales and gross profit - Correction -
Integration of WORMLAND is progressing well
26.04.2016 / 09:47
The issuer is solely responsible for the content of this announcement.
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Corporate News
LUDWIG BECK Group closes first quarter of 2016 with a growth in sales and
gross profit - Integration of WORMLAND is progressing well
Munich, April 26, 2016 - The Munich fashion group LUDWIG BECK (ISIN DE
0005199905) has closed the first quarter of 2016 at a satisfactory level
overall. At group level, the company was able to register a distinct
increase in sales in comparison to the previous year, which was due to the
acquisition of the new WORMLAND segment in the second quarter of 2015.
LUDWIG BECK succeeded in holding up like-for-like sales in spite of
challenging conditions. The German fashion trade concluded the first
quarter of the current fiscal year with an accumulated deficit of 2%.
Development of sales
At group level, LUDWIG BECK generated gross sales in the amount of EUR
37.3m (previous year: EUR 21.7m) in the first three months of the year. The
new WORMLAND segment contributed a total of EUR 16.3m to this amount.
Earnings situation
Gross profit reached EUR 14.3m (previous year: EUR 8.5m). The gross profit
margin came to 45.5% (previous year: 46.3%). The reasons for this slight
decline lay in the sales development in the first three months and the
resulting sell-off of fall/winter goods with significant price changes, as
well as the continuous sell-off of old WORMLAND stock.
Personnel expenses increased to EUR 7.7m in comparison to the previous year
(previous year: EUR 4.4m). Non-recurring effects of personnel restructuring
measures in the amount of EUR 0.7m were of consequence in this regard.
Other expenses amounted to EUR 9.2m (previous year:
EUR 3.9m).
Earnings before interest and taxes (EBIT) amounted to EUR -2.4m (previous
year: EUR 0.0m), earnings before taxes (EBT) to EUR -2.7m (previous year:
EUR -0.2m). Earnings after taxes were at EUR -2.5m (previous year: EUR
-0.1m).
Outlook
For the LUDWIG BECK Group, the year 2016 is all about the integration and
consolidation of WORMLAND. Dieter Münch, member of the Executive Board of
LUDWIG BECK AG: It is our goal to reinstate the former strength of WORMLAND
in the market for exclusive men's fashion. To this end, we will apply the
very same measures that have led the LUDWIG BECK Group on a long-standing,
stable growth course.
The Group still stays with its sales target for 2016, which is to generate
trade sales in the amount of EUR 180m to EUR 190m and earnings before
interest and taxes (EBIT) of EUR 8m to EUR 9m.
The comprehensive quarterly report for the first three months of the 2016
fiscal year is published online at http://kaufhaus.ludwigbeck.de/english/
under Investor Relations, in the Financial Publications section under the
heading Interim Reports.
Key figures of the Group
in EURm 1/1/2016 1/12015 - - 3/31/2016 3/31/2015 Gross sales 37.3 21.7 Net sales 31.4 18.3 Earnings before interest, taxes, depreciation and amortization (EBITDA) -1.3 0.8 Earnings before interest and taxes (EBIT) -2.4 0.0 Earnings before taxes (EBT) -2.7 -0.2 Earnings after taxes -2.5 -0.1 Equity (as per reporting date 3/31) 76.7 67.1 Equity ratio in % (as for reporting date 3/31) 56.2 59.4 Earnings per share (in EUR) -0.68 -0.03 Investments 1.0 0.4 Employees *) 870 471 Apprentices (number) 50 47*) without apprentices Segment Information in EURm LUDWIG WORMLAND GROUP BECK Gross sales 21.0 16.3 37.3 Earnings before interest, taxes, depreciation 0.8 -2.1 -1.3 and amortization (EBITDA) Earnings before interest and taxes (EBIT) 0.0 -2.4 -2.4About LUDWIG BECK LUDWIG BECK is one of the top fashion retail companies in Germany. In 2015, with approximately 500 employees it generated gross sales of EUR 104m (as per December 2015) on an area of about 12,400 sqm as well as through its online shop. 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. 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. WORMLAND: THEO WORMLAND GmbH & Co. KG, based in Hanover, generated sales in the amount of approximately EUR 80m (as per December 31, 2015) with 467 employees on a total area of about 14,800 sqm in 2015. The group of companies 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 outlets. 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] --------------------------------------------------------------------------- 26.04.2016 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 --------------------------------------------------------------------------- 457703 26.04.2016
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