Corporate | 16 March 2011 12:29
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Ahlers AG / Key word(s): Final Results/Dividend
March 16, 2011 PRESS RELEASE Ahlers reports 77 percent earnings growth for FY 2009/10 and presents optimistic outlook on FY 2010/11 Menswear manufacturer Ahlers has emerged successfully from the crisis and posted a consolidated net income for the year of EUR 8.5 million in the past fiscal year (+77 percent on the previous year's EUR 4.8 million). In Q4 2010, sales revenues increased by 8.6 percent, while full-year sales rose by 0.6 percent to EUR 250.8 million (previous year: EUR 249.8 million). With cash flow from operations up by 85 percent on the previous year, the company's sound financial position improved even further. The equity ratio climbed from 58 percent in the previous year to 61 percent. For the current fiscal year Ahlers' management projects growing sales and earnings. The increase in the fashion company's sales revenues is primarily attributable to the Premium Brands, Pierre Cardin, Baldessarini and Otto Kern. This segment grew by 5.2 percent and now accounts for 52 percent of total sales (previous year: 50 percent). Sales revenues in the Retail segment rose by an impressive 23 percent and now represent 9 percent of total sales (previous year: 7 percent). All brand segments increased their respective profit contributions in the fiscal year 2009/10. Earnings in the Premium segment doubled. The profit contribution made by the reliable Pioneer activities in the Jeans & Workwear segment climbed by 25 percent. The menswear company's Management Board is optimistic about the current fiscal year 2010/11. Incoming orders in the first six months were up by 3 percent on the previous year. Current orders for the second half of the year are up by a double-digit percentage. Accordingly, Ahlers' sales revenues should rise at a single-digit rate, while consolidated net income is expected to increase by a double-digit percentage in 2011. CEO Dr. Stella A. Ahlers commented on the company's performance: 'We have optimised the company and focused it on fewer activities in the past years. Going forward, we want to grow our fully integrated brands both nationally and internationally. At present we are expanding our Retail activities and want to increase the number of own stores and spaces at clothing retail stores.' The fashion company has just opened one store in Munich and one in Switzerland for the Baldessarini and Gin Tonic brands and is about to open another store in Munich. Besides the Gin Tonic online shop, which has just been launched, online shops for Otto Kern and Baldessarini will be opened in 2011. At the end of 2010, Ahlers had 27 own stores (previous year: 24). 132 mono-label stores are operated by partners and franchisees (previous year: 117). The Management Board and the Supervisory Board will propose a dividend of EUR 0.55 per common share (previous year: EUR 0.30) and of EUR 0.60 per preferred share (previous year: EUR 0.35) to the Annual Shareholders' Meeting on May 4, 2011. The dividend will thus increase by a total of 78 percent. Moreover, Dr. Julia von Ah, Switzerland, will be proposed for election as new Supervisory Board member of Ahlers AG at the Annual Shareholders Meeting. This way, the company will reach the targets it has set itself with regard to the composition of the Supervisory Board in terms of internationality and the degree of female representation. Summary of Ahlers Group figures:
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| Language: | English | |
| Company: | Ahlers AG | |
| Elverdisser Straße 313 | ||
| 32052 Herford | ||
| Deutschland | ||
| Phone: | +49 (0)5221 979-0 | |
| Fax: | +49 (0)5221 70058 | |
| E-mail: | ahlers-ag@ahlers-ag.com | |
| Internet: | www.ahlers-ag.com | |
| ISIN: | DE0005009708, DE0005009732 | |
| WKN: | 500970, 500973 | |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Stuttgart | |
| End of News | DGAP News-Service |
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| 115740 16.03.2011 |