DGAP-News: Ahlers AG: Ahlers' Premium segment increases sales revenues by 3.4 percent in H1 against downward market trend. Total revenues down by 5.3 percent due to discontinuation of Gin Tonic Woman and weather-related slow business.
(firmenpresse) - DGAP-News: Ahlers AG / Key word(s): Half Year Results/Interim Report
Ahlers AG: Ahlers' Premium segment increases sales revenues by 3.4
percent in H1 against downward market trend. Total revenues down by
5.3 percent due to discontinuation of Gin Tonic Woman and
weather-related slow business.
11.07.2013 / 09:42
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July 11, 2013
PRESS RELEASE
Ahlers' Premium segment increases sales revenues by 3.4 percent in H1
against downward market trend. Total revenues down by 5.3 percent due to
discontinuation of Gin Tonic Woman and weather-related slow business. At
EUR 1.0 million, consolidated net income after taxes is below prior year
level (EUR 2.7 million) due to lower sales revenues and start-up costs for
Retail segment and e-commerce. Equity ratio remains above 60 percent.
Stable earnings projected for full year 2012/13.
Baldessarini and Pierre Cardin, the company's Premium brands, both grew in
the first half of 2012/13, thus pushing up segment revenues by 3.4 percent
to EUR 73.5 million (previous year: EUR 71.1 million). As a result, the
Premium segment's contribution to total sales revenues increased from 58
percent in the prior year period to 64 percent in the first half year of
2012/13.
Last year the Management Board decided to reorganise Gin Tonic from scratch
and to give up the ladieswear activities. The discontinuation of Gin Tonic
Woman led to a 2.9 percent decline in sales revenues. Due to the cold
weather throughout Europe, sales in the clothing retail sector dropped
sharply. As a result, intra-seasonal orders received by Ahlers were lower
than in the previous year, reducing sales by another 2.4 percent. At EUR
115.2 million, total sales revenues were down by 5.3 percent on the
previous year's EUR 121.6 million. Sales revenues in the company's own
Retail segment increased by 5 percent in spite of the difficult market
situation in the first half year and the closure of several Gin Tonic
Stores. Accordingly, the Retail segment's relative contribution to total
sales climbed from 10.3 percent to 11.3 percent.
At EUR 1.0 million, first-half earnings after taxes were lower than in the
prior year period (EUR 2.7 million). The EUR 1.7 million decline in gross
profit resulting from the lower sales revenues and additional expenses for
the company's own Retail operations, the start-up of the e-commerce
business and the related additional marketing expenses were responsible for
the decline in earnings in more or less equal measure. As of May 31, 2013,
Ahlers had a solid equity ratio of 60.4 percent (previous year: 62.4
percent). Net working capital declined from EUR 1.4 million to EUR 83.7
million due to lower receivables.
The Management Board of Ahlers AG expects both sales revenues and earnings
to pick up in the second half of 2013 in spite of the discontinuation of
Gin Tonic Woman. This forecast is based on good incoming orders and new
retail spaces and, hence, growing Retail revenues. For the full year
2012/13, the Management Board expects to more or less reach, or maybe
slightly exceed, the prior year result of EUR 7.3 million. While the first
half of 2012/13 was disappointing, the preconditions for a good second
half-year 2013 are in place.
Summary of Ahlers Group figures:
in EUR millions H1 2012/13 H1 2011/12 ChangeEnd of Corporate News
in %
Sales revenues - continued activities 115.1 118.0 -2.4
- incl. Gin Tonic Woman 115.2 121.6 -5.3
EBITDA before special effects 3.7 7.4 -50.0
EBIT margin (in %) before special effects 1.0 3.8 -2.8
Consolidated net income after taxes 1.0 2.7 -63.0
Equity ratio (in %) 60.4 62.5 -2.1
Employees as of the reporting date 2,203 2,181 +1.0
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11.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Ahlers AG
Elverdisser Straße 313
32052 Herford
Germany
Phone: +49 (0)5221 979-0
Fax: +49 (0)5221 70058
E-mail: ahlers-ag(at)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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