TOM TAILOR Holding SE
TOM TAILOR Group signs Term Sheet for loan agreement until end of September 2022 and thus secures the long-term financing of the Group
DGAP-News: TOM TAILOR Holding SE
/ Key word(s): Financing
TOM TAILOR Group signs Term Sheet for loan agreement until end of September 2022 and thus secures the long-term financing of the Group
Due to the planning timeframe through to 2022, as laid out in the Term Sheet and based on the Independent Business Review (IBR) carried out for this time period by BCG, the Management Board is adjusting the preliminary results for fiscal 2018 that were published on 13 May 2019. The adjustment is mainly due to the increase in provisions for contingent losses as a result of a more conservative assessment of the future business performance. In addition, the accounting standard IFRS 5 (discontinued operations) will no longer be applied. The reason for this is that the Management Board has adjusted its estimate with regard to the timing of a potential sale of BONITA. Based on the provisional, unaudited results, the Management Board expects for the TOM TAILOR brand a turnover of EUR618.1 million (13 May 2019: EUR616.9 million), an EBITDA of EUR64.0 million (13 May 2019: EUR70.6 million) and an EBITDA margin of 10.4% (13 May 2019: 11.4%). Turnover at the BONITA division remains at EUR225.7 million. EBITDA, however, has decreased to EUR-38.2 million (13 May 2019: EUR-24.6 million) according to the provisional, unaudited results. As a result of the adjustment, gross profit for TOM TAILOR will increase marginally to EUR349.7 million (13 May 2019: EUR349.4 million) and for BONITA it will remain at EUR140.1 million. “With the increase in provisions and the resulting adjustment of the 2018 figures, we are taking the declining operating development of BONITA into account. At the same time, we are sticking to our strategic growth initiatives for the TOM TAILOR brand, such as strengthening our women’s segment, growth in digital channels and further internationalisation. TOM TAILOR’s successes to date confirm us in this direction”, explains Dr Heiko Schäfer, CEO of the TOM TAILOR Group. Once the financing agreement has been finalised, the company also plans to complete and publish the financial statements and consolidated financial statement for 2018.
Along with its 727 retail stores, BONITA has 80 shop-in-shop spaces. The collections of both brands are also available through their respective online shops. Information is also available at www.tom-tailor-group.com
Media Contact
09.10.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | TOM TAILOR Holding SE |
Garstedter Weg 14 | |
22453 Hamburg | |
Germany | |
Phone: | +49 (0) 40 589 56 0 |
Fax: | +49 (0) 40 589 56 199 |
E-mail: | info@tom-tailor.com |
Internet: | www.tom-tailor-group.com |
ISIN: | DE000A0STST2 |
WKN: | A0STST |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 887895 |
End of News | DGAP News Service |