Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group concludes fiscal year 2016 with a satisfactory result
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Final Results/Final Results Corporate News LUDWIG BECK Group concludes fiscal year 2016 with a satisfactory result Munich, March 28, 2017 – In the fiscal year 2016, the Munich Fashion Group LUDWIG BECK (ISIN DE 0005199905) had to face some challenges, but was able to master them by the end of the year with a satisfactory result in overall terms. Once again, anticyclical weather patterns proved to have a major impeding impact. However, appropriate seasonal weather for the Christmas business provided a boost in sales. The WORMLAND segment, newly acquired in 2015, concluded its first full fiscal year under the umbrella of the LUDWIG BECK Group and developed in line with expectations during that period. With the launch of the new WORMLAND flagship store in Nuremberg in October 2016 a promising milestone in the history of this long-established company has been set. Development of sales Earnings situation Accordingly, earnings before taxes (EBT) amounted to EUR 5.2m (previous year: EUR 17.3m). Thus, the EBT margin came to 3.5% (previous year: 12.9%). Taxes on income of EUR 2.3m (previous year: EUR 2.1m) were incurred in 2016. The previous year’s result had included a non-recurring tax-exempt Group income from initial consolidation of the WORMLAND Group in the amount of EUR 9.8m. Consolidated net income amounted to EUR 2.9m (previous year: EUR 15.2m). As per the reporting date of December 31 2016, the Group’s equity totaled EUR 79.0m (previous year: EUR 79.4m). The equity ratio was 58.9% (previous year: 60.2%). Dividend payout Outlook The management of LUDWIG BECK shares these expectations. At the same time, the Executive Board is engaged in the analysis of the ongoing structural changes unfolding in German textiles retail in order to come up with strategic conclusions. Against this background, the Fashion Group remains committed to its high target of a sound, sustained development also in 2017. In 2017, we will focus all our efforts on our customers. In these challenging times we have made this our central key topic, member of the Executive Board, Dieter Münch, said. Based on this assumption, the Executive Board expects sales on Group level to reach between EUR 170m and 180m and earnings before interest and taxes (EBIT) to settle between EUR 4m and 6m in 2017. For further information regarding the company and the share please refer to the corporate website at http://kaufhaus.ludwigbeck.de/english/. Key figures of the Group
1) without apprentices About LUDWIG BECK 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. About ludwigbeck.de Investor Relations contact:
28.03.2017 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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