Corporate | 19 April 2012 08:00
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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Quarter Results/Quarter Results
Corporate News LUDWIG BECK ends 1 st quarter of 2012 with record earnings / branch-adjusted sales rise 7.8% Munich, April 19, 2012 – In the first three months of the 2012 fiscal year, Munich fashion group LUDWIG BECK (Security Identification Number: 519 990) expanded its success at a high level, clearly exceeding last year's earnings.
Development of sales
Earnings situation
The expense ratio (expenses against corresponding income) decreased by 6.0%-points from 45.1% in the previous year to 39.1%. The absolute amount of expenses netted against corresponding income was only EUR 7.5m (previous year: EUR 8.3m), primarily thanks to a decrease in other operating expenses by more than EUR 0.8m. Last year showed EUR 0.7m in special anniversary costs for this period. All in all, EBIT amounted to EUR 1.8m, a EUR 1.0m increase compared to the previous year (EUR 0.8m). Accordingly, at 9.6%, the EBIT margin was high compared to 4.2% in the 1 st quarter of 2011. Earnings before taxes (EBT) climbed even higher and reached EUR 1.4m (previous year: EUR 0.2m). The EBT margin was 7.2% (previous year: 1.0%) Net profits for the first three months of 2012 rose from last year's EUR 0.1m to EUR 0.9m. Therefore, yield development for the 1 st quarter of 2012 can only be described as highly satisfactory.
Outlook
Dieter Münch, Executive Board member of LUDWIG BECK AG, has a very positive outlook on the Group's further path: 'LUDWIG BECK's running start into the year 2012 was an impressive confirmation for the strategic approach of the Group. Especially the strong increase in sales was a great surprise for us!' Based on these deliberations, the LUDWIG BECK management confirms its already published forecast for the current fiscal year of a branch-adjusted sales growth by 2% to 3 % and earnings before taxes (EBT) between EUR 10.0m and EUR 12.0m. The detailed Three Months' Report will be published on the Internet at www.ludwigbeck.de in the 'Quarterly Reports' section under 'Financial Publications'. Key Figures of the Group
1) Net profits from turnover minus costs of material used; 2) without apprentices About LUDWIG BECK Founded in 1861 as a trimmings and button-making workshop with four journeymen and one apprentice, over time, LUDWIG BECK advanced to become one of the most innovative retail businesses in Germany. Located at Marienplatz in the heart of Munich, with a sales area of 11,500 m 2 spread over seven floors, and close to 500 employees, LUDWIG BECK offers an extraordinary blend of goods in its selection: hip fashion, exclusive leather goods and accessories, unique beauty products, original gift ideas, traditionally exquisite sewn and knitted creations, and the finest of auditory pleasures. In 2011, LUDWIG BECK generated gross sales of EUR 103.3m and earnings before taxes (EBT) of EUR 11.3m.
Investor Relations contact:
Group accounting contact:
End of Corporate News 19.04.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| 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: | Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart | |
| End of News | DGAP News-Service |
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| 165504 19.04.2012 |