DGAP-News: LUDWIG BECK got off to a successful start into its anniversary year and has been on track for record results also in the 1st quarter of 2011
(firmenpresse) - DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Interim Report
LUDWIG BECK got off to a successful start into its anniversary year
and has been on track for record results also in the 1st quarter of
2011
20.04.2011 / 08:00
---------------------------------------------------------------------
Corporate News
LUDWIG BECK got off to a successful start into its anniversary year and has
been on track for record results also in the 1st quarter of 2011
Munich, April 20, 2011 - The Munich fashion group LUDWIG BECK (ISIN DE
0005199905) successfully concluded the first three months of the fiscal
year 2011 and was able to tie in the high sales and earnings levels of the
previous year.
Development of sales
Gross sales of the LUDWIG BECK Group amounted to EUR 22.0m (previous year:
EUR 22.3m) in the months from January to March 2011. Adjusted for the four
branches closed down in comparison to the previous year, gross sales went
up 3.9 % from EUR 21.2m to EUR 22.3m. As usual, the flagship store at
Marienplatz (incl. FÜNF HÖFE) accounted for the largest portion and
generated sales of EUR 20.4m. This corresponds to a 3.7 % increase in
comparison to the previous year (EUR 19.7m). According to the trade
magazine TextilWirtschaft, the German retail trade only recorded sales at
par with the previous year in the period under report which was marked by a
promising start into the year, a slack period in March and the lack of
Easter sales due to calendrical reasons.
Earnings situation
In the 1st quarter of 2011 the gross profits of EUR 9.1m achieved by the
LUDWIG BECK Group were at last year's level (EUR 9.1m). The gross profit
ratio went up 1.0 percentage points and came to 49.3 % in comparison to the
previous year (48.3 %).
The expense ratio (expenses netted against corresponding income) was 45.1 %
in the 1st quarter of 2011 (previous year: 43.0 %). This increase in
comparison to the previous year was due to the fact that costs for the
150th company anniversary in the amount of EUR 0.7m have already been
incurred whereas the positive effects of the anniversary will not occur
before April. The absolute amount of expenses against corresponding income
was EUR 8.3m (previous year: EUR 8.1m).
EBIT came to EUR 0.8m (previous year: EUR 1.0m). The EBIT margin was 4.2 %
in comparison to 5.3 % in the same period last year. In consideration of
the increased expense ratio and Easter spending mainly falling into the
April period, it is noteworthy that earnings before taxes on income (EBT)
reached last year's level of EUR 0.2m even in the traditionally weak 1st
quarter. The EBT margin was 1.0 % (previous year: 1.0 %).
Net income for the first three months of 2011 was EUR 0.1m, and at par with
last year's net income (previous year: EUR 0.1m).
The yield development of the Group has been highly satisfying in the first
three months of 2011 and clearly exceeded the company's expectations.
Outlook
According to the forecast of the economic experts at the Hamburg-based
Institute of International Economics (HWWI) the upturn will continue
throughout the current fiscal year. However, the experts slightly lowered
their expectations for economic development because of increased crude oil
prices and the political turmoil in the Arabian world, and now assume that
the gross domestic product will rise by 2.3 %. The effects of the nuclear
disaster in Japan on the global economy have not been taken into
consideration, and are unratable in the experts' opinion. According to the
German Retail Federation (HDE) the retail trade was looking positively
towards the coming months. The Federation anticipates nominal sales to
increase 1.5 % in the fiscal year 2011; at a price-adjusted basis, this
figure would be at par with last year's level.
'We are highly satisfied with the start of our anniversary year', Dieter
Münch, member of the Executive Board of LUDWIG BECK AG said. 'It is our
goal to permanently expand our good position in the premium segment and to
convince our customers with an exclusive brand portfolio and a unique
ambience. We have ambitious plans for this very special year in our history
and would like to outperform the record result of the previous year.
Therefore, we expect branch-adjusted sales growth to reach 3 % to 4 % and
earnings before taxes (EBT) to amount to EUR 9m to EUR 11m', Münch
concluded.
The detailed Three Months' Report will be published on the Internet at
www.ludwigbeck.de in the 'Interim Reports' section under 'Financial
Publications'.
Key Figures of the Group
in EURm 01/01/2011 - 01/01/2010 -1) Net profits from turnover minus costs of material used; 2) without
31/03/2011 31/03/2010
Gross sales 22.0 22.3
Net sales 18.5 18.8
Gross profit1) 9.1 9.1
Earnings before interest, taxes and
depreciation (EBITDA) 1.5 1.8
Operating result (EBIT) 0.8 1.0
Earnings before taxes (EBT) 0.2 0.2
Net profit for the period 0.1 0.1
Earnings per share (in EUR) 0.03 0.02
Investments 0.5 1.0
Employees (number at relevant date 466 510
31/03)2)
apprentices
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 28 80 81 - 33
f: +49 89 28 80 81 - 49
mt(at)esvedragroup.com
Group accounting contact:
LUDWIG BECK am Rathauseck
Jens Schott
t: +49 89 2 36 91 - 798
f: +49 89 2 36 91 - 600
jens.schott(at)ludwigbeck.de
End of Corporate News
---------------------------------------------------------------------
20.04.2011 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
Deutschland
Phone: +49 (0)89 2 36 91-0
Fax: +49 (0)89 2 36 91-600
E-mail: info(at)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
---------------------------------------------------------------------
120726 20.04.2011Unternehmensinformation / Kurzprofil:
Datum: 20.04.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 33839
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 206 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: LUDWIG BECK got off to a successful start into its anniversary year and has been on track for record results also in the 1st quarter of 2011"
steht unter der journalistisch-redaktionellen Verantwortung von
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
