Loewe AG: First nine months of 2012

Loewe AG  / Key word(s): Quarter Results/Change in Forecast

01.10.2012 23:20

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Kronach, October 1, 2012. - Third quarter sales of the Loewe Group amounted
to approx. EUR 47 million in fiscal 2012, as measured on a preliminary
basis; this reflects a decline of 30% compared to the same period of the
prior year (EUR 67.4 million). Group sales for the first nine months of
2012 fell by 7%, from EUR 186.1 million in Q1-3 2011 to approx. EUR 173
million in Q1-3 2012. The lower sales and production volumes resulted in a
negative EBIT for the third quarter of 2012.

Following a successful first half of 2012 with growth in both sales and
market share, Loewe's business was impacted in the third quarter 2012
primarily by the negative market trend. The German market for LCD TVs, for
instance, declined by 11% in terms of value during August 2012, with
certain export markets showing significantly stronger market declines. The
persisting euro crisis put a general burden on Loewe's business in large
parts of Europe.

As a result of these developments, the existing guidance of a growth in
sales and a significant improvement in earnings for the year 2012 as a
whole can no longer be sustained. As based on the successful IFA 2012,
however, Loewe does expect a positive market trend for its seasonal
business in the fourth quarter of 2012, primarily in response to the
introduction of new and innovative home entertainment systems and
audiodesign solutions.

Contacts:
Loewe AG
Industriestrasse 11
96317 Kronach, Germany
Investor Relations, Axel Gentzsch
Tel.: +49 (0)9261 99-240
Fax: +49 (0)9261 99-994
Email: axel.gentzsch@loewe.de

Public Relations, Dr. Roland Raithel
Tel.: +49 (0)9261 99-217
Fax: +49 (0)9261 99-444
Email: roland.raithel@loewe.de


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Information and Explaination of the Issuer to this News:

The detailed Loewe Group Interim Report on the first nine months of 2012
will be published on Nov 7th, 2012 as scheduled.

01.10.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Loewe AG
              Industriestrasse 11
              96317 Kronach
              Germany
Phone:        +49 (0)9261 99-984
Fax:          +49 (0)9261 99-994
E-mail:       ir@loewe.de
Internet:     www.loewe.de
ISIN:         DE0006494107
WKN:          649410
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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