DGAP-News: Ming Le Sports AG: Sustainable growth and high profitability in the first half of 2013
(firmenpresse) - DGAP-News: Ming Le Sports AG / Key word(s): Half Year Results
Ming Le Sports AG: Sustainable growth and high profitability in the
first half of 2013
27.08.2013 / 08:52
---------------------------------------------------------------------
H1 results 2013
Ming Le Sports AG: Sustainable growth and high profitability in the first
half of 2013
- Revenue growth of 25.7 per cent to 159.3 million Euros
- Gross profit went up by 7.8 per cent to 46.8 million Euros
- Significant EBIT increase of 11.8 per cent to 36.5 million Euros
- Favourable outlook for full-year 2013 confirmed
Frankfurt, 27 August 2013 - Ming Le Sports AG, a rapidly growing branded
sportswear company in China, continued on its growth path. Revenues showed
a year-on-year growth of 25.7 per cent and reached 159.3 million Euros (H1
2012: 126.7 million Euros). This positive development resulted from higher
sales volumes in both product segments of Ming Le Sports - 'Footwear' and
'Apparels, accessories and equipment' - as well as from an increased
average unit selling price of 11.80 Euros (H1 2012: 11.10 Euros).
In the same period gross profit increased by 7.8 per cent to 46.8 million
Euros (H1 2012: 43.4 million Euros). Also EBIT recorded a plus of 11.8 per
cent adding up from 32.7 million Euros to 36.5 million Euros year-on-year.
Net profit amounted to 27.4 million Euros (H1 2012: 28.6 million Euros).
However margins decreased compared to the first half year 2012. Higher
costs of sales incurring due to the outsourcing of manufacturing to other
vendors lead to a decline of gross profit margin from 34.3 per cent to 29.4
per cent. EBIT margin slightly went down by 2.9 percentage points to 22.9
per cent (H1 2012: 25.8 per cent).
Ming Le remains highly profitable
Nevertheless, with a net profit margin of 17.2 per cent and an equity
growth of 21.1 per cent from 155.2 million Euros to 187.9 million Euros as
at June 30, 2013, Ming Le continued to be highly profitable in the first
six months 2013. Equity ratio went up to 82.7 per cent (H1 2012: 81.9 per
cent).
Favourable outlook for the full-year confirmed
Presuming that the currency rate between Euro and Renminbi remains stable,
Ming Le confirms its positive outlook given in this year's Q1 report. Due
to the opening of the new retail outlets and the increase in orders during
the Autumn/Winter seasonal sales fair held in spring 2013, Ming Le
anticipates a year-on-year revenue growth of 25.0 per cent in Euro terms in
2013 surpassing the 350.0 million Euro benchmark and a net profit margin
between 17.0 and 18.0 per cent for the full year 2013.
Furthermore the company follows consequently its expansion strategy: Until
the end of 2013 Ming Le plans to add 630 stores including 30 self-owned
flagship stores to its existing retail network. By the end of the second
quarter 2013 Ming Le already had added 302 stores to its network. As of
June 30, 2013, Ming Le's network of 4,092 retail outlets covered 26
provinces across China, while over 85.0 per cent of the retail network is
located in Tier 3 and Tier 4 cities according to the company's strategy.
Ming Le expects that its network will continue to thrive achieving the
market leading position in the respective cities in the near future.
The full half-year report 2013 of Ming Le Sports AG is available on the
company website under
http://www.mingle-sportswear.com/investor-relations/publications.html.About Ming Le Sports AG
Ming Le Sports AG is a rapidly growing branded sportswear company in China
targeting 16 to 35-year-old men and women who lead an urban, vibrant and
active lifestyle. Ming Le's products include footwear, apparel, accessories
and equipment. The company strives to offer comfortable, fashionable and
affordable lifestyle and leisure sportswear. Ming Le designs its own
products and manufactures them at Ming Le's facilities or through contract
manufacturers. Ming Le markets and sells its products through a network of
26 distributors to over 4,000 retail outlets in China. At present, Ming Le
has 1,393 employees.
For further information, please contact:
Kirchhoff Consult AG
Anja Ben Lekhal
Tel: +49(0) 40 609 186 55
Mail: anja.benlekhal(at)kirchhoff.de
Or visit http://www.mingle-sportswear.com
Disclaimer concerning prognoses
This communication contains forward-looking statements Forward-looking
statements are statements that are not historical facts instead they
reflect the current views and expectations of Ming Le Sports and the
assumptions underlying them about future events. Forward-looking statements
are subject to many risks and uncertainties. If any of such risks and
uncertainties materialize or if the assumptions underlying any of the
forward-looking statements of Ming Le Sports are proving to be incorrect,
the actual results of Ming Le Sports may be materially different from those
expressed or implied by such forward-looking statements. Ming Le Sports
does not intend or assume any obligation to update these forward-looking
statements. Any forward-looking statement speaks only as of the date on
which it is made.
End of Corporate News
---------------------------------------------------------------------
27.08.2013 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,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Ming Le Sports AG
Westhafenplatz 1
60327 Frankfurt am Main
Germany
Internet: www.mingle.cn
ISIN: DE000A1MBEG8
WKN: A1MBEG
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf
End of News DGAP News-Service
---------------------------------------------------------------------
227600 27.08.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.08.2013 - 08:52 Uhr
Sprache: Deutsch
News-ID 291066
Anzahl Zeichen: 3860
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 248 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Ming Le Sports AG: Sustainable growth and high profitability in the first half of 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Ming Le Sports AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
