Corporate | 20 October 2015 08:00


Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group records significant sales growth after the first nine months of 2015


DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): 9-month figures/9-month figures

2015-10-20 / 08:00

Corporate News

LUDWIG BECK Group records significant sales growth after the first nine months of 2015

Munich, October 20, 2015 – The Munich fashion group LUDWIG BECK (ISIN DE 0005199905) generated gross sales in the amount of EUR 100.9m in the first nine months of the 2015 fiscal year (previous year: EUR 69.2m). This strong increase is primarily the result of the takeover of WORMLAND. On account of the effects of this acquisition, comparability of the key figures at group level can be applied only to a limited degree in regard to the same period of the previous year.

Development of sales
With like-for-like sales of EUR 70.6m LUDWIG BECK achieved an increase in sales of 1.9% in comparison to the previous year (EUR 69.2m). In the same period, the German textile retail trade recorded a 2% decrease. In addition to the brick-and-mortar business, the online shop at www.ludwigbeck.de once again emerged as a growth driver. WORMLAND contributed a total of EUR 30.3m to consolidated sales.

Earnings situation
The gross profit amounted to EUR 39.0m (previous year: EUR 28.6m), with WORMLAND’s share at EUR 10.5m. The gross profit margin was 46.0% (previous year: 49.1%). The strong decline in the gross profit margin was due to a forced sell-off of excess stock after the takeover of WORMLAND.

Expenses against corresponding proceeds came to EUR 29.0m (previous year: EUR 23.9m).

Earnings before interest and taxes (EBIT) amounted to EUR 9.9m (previous year: EUR 4.7m).
Earnings before taxes (EBT) climbed to EUR 9.1m (previous year: EUR 3.8m). WORMLAND’s negative operating result was more than compensated by the positive non-recurring effect of initial consolidation (approximately EUR 9.8m). Since this non-recurring effect is to be seen purely as a Group income, no taxes arise therefor. Accordingly, taxes on earnings amounted to EUR 0.5m (previous year: EUR 1.0m).

Earnings after taxes were at EUR 8.6m (previous year: EUR 2.9m).

Outlook
The LUDWIG BECK management considers the past nine months of the fiscal year as positive for the Group. The outstanding event was the acquisition of the men’s fashion retailer WORMLAND. In addition to the premium shopping world presented at the flagship store at Marienplatz in Munich and the consequently implemented trading up strategy, the Group now holds a promising key to the much-courted target group of well-funded, fashion-conscious men which can be operated all over Germany. At the same time the further expansion of the online business gives grounds to expect reliable growth dynamics as a supplement to the brick-and-mortar business.

Dieter Münch, member of the Executive Board of LUDWIG BECK AG: LUDWIG BECK, WORMLAND and our online activities now form the winning trio that will characterize the Group in the future. Sustained stability and growth should be ensured.

The Executive Board expects the fourth quarter to yield additional impulses for a positive business development. With the Christmas business it is traditionally the year’s top-selling quarter for the Group.

Against this background, the management of LUDWIG BECK confirms its half-year forecast and expects annual sales to reach EUR 158 – 163m in 2015. EBIT is expected to rise to EUR 17m – 19m on account of the acquisition of WORMLAND.

The detailed consolidated interim report can be found online at www.kaufhaus.ludwigbeck.de in the Investor Relations section under the heading Quarterly Reports .

Key figures of the Group

in EURm 1/1/2015 –
9/30/2015 		1/1/2014 –
9/30/2014 1 )
Gross sales 100.9 69.2
Net sales 84.7 58.2
Earnings before interest, taxes and depreciation (EBITDA) 12.7 6.9
Earnings before interest & taxes (EBIT) 9.9 4.7
Earnings before taxes (EBT) 9.1 3.8
Earnings after taxes 8.6 2.9
Equity (as per reporting date 9/30) 72.8 63.5
Equity ratio (as per reporting date 9/30) in % 49.1 55.5
Earnings per share (in EUR) 2.34 0.77
Investments 1.3 5.3
Employees (number) 2) 920 466

1) In the figures 2014 WORMLAND is not included.
2) Without apprentices

Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021 – 210
f: +49 89 206021 – 210
mt@esvedragroup.com

Group accounting contact:
LUDWIG BECK am Rathauseck
Jens Schott
t: +49 89 23691 – 798
f: +49 89 23691 – 600
jens.schott@ludwigbeck.de

LUDWIG BECK
The Munich fashion group is one of the top fashion retail companies in Germany. With approximately 500 employees it generates EUR 102.7m in group sales on an area of about 12,400 sqm (as per December 31, 2014). LUDWIG BECK is located in the heart of Munich, directly at Marienplatz. On seven floors LUDWIG BECK 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. Since the end of 2012, LUDWIG BECK has offered the singular brand portfolio of the beauty department with over 100 luxury and niche cosmetics brands also at its online shop www.ludwigbeck.de .

WORMLAND:
Theo Wormland GmbH & Co. KG, based in Hannover, generates sales in the amount of approximately EUR 79.6m (as per December 31, 2014) with 465 employees on a total area of approx. 14,800 sqm. The group of companies is based on two differing store concepts: WORMLAND and THEO. Today, Theo Wormland GmbH & Co. KG ranges among Germany’s top men’s fashion retailers with a total of 15 outlets. It also operates an online shop at www.shop.wormland.de.




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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
End of News DGAP News Service
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