Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group generates significant increase in sales in the first half of 2016
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Half Year Results/Quarter Results Corporate News LUDWIG BECK Group generates significant increase in sales in the first half of 2016 Munich, July 26, 2016 – The Munich fashion group LUDWIG BECK (ISIN DE 0005199905) recorded a substantial growth in sales in the first half of 2016, attributable to the WORMLAND segment newly acquired in May 2015. The German fashion trade concluded the first six months of the year under report with a cumulative 1% decline in sales. Development of sales Earnings situation Personnel expenses went up to EUR 15.4m (previous year: EUR 10.6m). Other expenses were recorded in the amount of EUR 17.4m (previous year: EUR 11.1m). At group level, earnings before interest and taxes (EBIT) amounted to EUR -1.6m (previous year: EUR 11.3m). The LUDWIG BECK segment could improve its result from EUR 1.1m to EUR 1.6m. The WORMLAND segment recorded an EBIT of EUR -3.2m. Consolidated earnings before taxes (EBT) came to EUR -2.1m (previous year: EUR 10.8m). Outlook Dieter Münch, member of the Executive Board of LUDWIG BECK AG, stated: In the medium term, we will lead WORMLAND back to its original strength and economic efficiency. At the same time the management is keeping a watchful eye on potential changes of the political and macroeconomic framework conditions in Germany and in Europe. At any rate, an event like the recent killing spree in the Olympia shopping mall (OEZ) in Munich provides an example of some unforeseen occurrences that can significantly affect a forecast. Furthermore, it is currently impossible to predict whether the terrorist attacks committed in Europe will lead to distinctly slackened tourist traffic in the second half of 2016. At present, the Executive Board expects sales of goods at group level to reach between EUR 180m and EUR 190m and earnings before interest and taxes (EBIT) to amount to EUR 8m to EUR 9m. The comprehensive Half-year Report for the fiscal year 2016 is published online at http://kaufhaus.ludwigbeck.de/english/ under Investor Relations, in the Financial Publications section under the heading Quarterly Reports. Key figures of the Group
*) without apprentices Segment information
LUDWIG BECK WORMLAND: Investor Relations contact:
2016-07-26 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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: | info@ludwigbeck.de | |
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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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
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