DGAP-News: TOM TAILOR experiences surge in growth in Q1 2011
(firmenpresse) - DGAP-News: TOM TAILOR Holding AG / Key word(s): Quarter
Results/Quarter Results
TOM TAILOR experiences surge in growth in Q1 2011
11.05.2011 / 07:30
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- Group sales up 13.0% to EUR 86.3 m
- Controlled retail space grows by 20.4% to 112,000 square metres
- EBITDA increases to EUR 4.0 m
- Retail segment reports strong like-for-like growth of 27.3% in April
- Outlook for 2011 reaffirmed
Hamburg, 11 May 2011. The 2011 financial year started with a surge in
growth for TOM TAILOR Holding AG. The Group increased its sales by 13.0% to
EUR 86.3 m (Q1 2010: EUR 76.4 m). This growth was driven by sales increases
in the Retail segment of 35.0% to EUR 27.4 m (Q1 2010: EUR 20.3 m) and in
the Wholesale segment of 5.0% to EUR 58.9 m (Q1 2010: EUR 56.1 m).
On a like-for-like basis, sales for the first three months were up 2.8% in
the Retail segment, even though this year the traditionally strong Easter
business will not be reflected in results until the second quarter.
Therefore, TOM TAILOR outperformed the German textile industry, which
remained at last year's level in the first quarter. The Retail segment
comprises the stores run by TOM TAILOR itself and its e-commerce business.
The Group continued to implement its strategy of expanding its own
controlled retail space in the first quarter. This retail space encompasses
the Company's own retail stores, including the TOM TAILOR e-shop, franchise
stores and shop-in-shops. In the first three months of the year, TOM TAILOR
increased its own controlled retail space to 112,000 square metres overall.
The number of retail stores rose from 158 at the end of 2010 to 173 as of
31 March 2011. TOM TAILOR is aiming to open between 60 and 70 new retail
stores this year.
'Our strong growth rates are continuing and the implementation of our
expansion strategy in all of our core markets is progressing well. On a
like-for-like basis, we grew faster than the market once again in the first
quarter, even though trading around the Easter time occurred a number of
weeks later than last year. The second quarter has got off to a promising
start, with strong figures reported for April,' commented Dieter Holzer,
CEO of TOM TAILOR Holding AG.
TOM TAILOR recorded like-for-like growth of 27.3% in April 2011. This
figure reflected the positive impact of Easter trading, which occurred late
this year. Year to date April like-for-like growth amounted to 9.4%.
EBITDA improved in the first quarter from EUR 2.9 m to EUR 4.0 m and is in
line with the Company's expectations.
'We foresaw that certain negative factors would affect our income in the
first quarter and have incorporated this in our planning for 2011 at an
early stage. We confirm our sales and earnings targets for the full year.
In recent months we implemented the appropriate measures and now the first
effects can be seen. Therefore, we are confident that this will lead to an
improvement in our income over the coming quarters,' explained Dieter
Holzer.
The financial result was considerably better thanks to changes in the
Group's financing structure. It came in at EUR -0.1 m after EUR -7.4 m in
the same quarter last year. This led to a rise in the net result for the
period from EUR -10.6 m to EUR -1.9 m. Earnings per share improved to EUR
-0.11 (Q1 2010: EUR -1.79). Adjusted for one-off items, earnings per share
amounted to EUR -0.04(Q1 2010: EUR -0.32).
In the first quarter TOM TAILOR recorded cash flow from operating
activities of EUR -10.9 m after EUR -14.2 m in the previous year. While the
Group was able to build up its working capital in the reporting period
thanks to faster expansion via its own retail stores, the debt from
interest paid decreased. With an almost unchanged equity ratio of 33.6% (Q1
2010: 34.0%) TOM TAILOR remains solidly financed.
The Management Board confirmed its targets for the current year. TOM TAILOR
is aiming to achieve sales of at least EUR 400 m and an increase in EBITDA
to between EUR 48 and 51 m in 2011.
KEY FIGURES FOR THE GROUP
EUR million Q1 2011 Q1 2010 Change in %
Sales 86.3 76.4 13.0%
Retail 27.4 20.3 35.0%
Wholesale 58.9 56.1 5.0%
Gross profit 38.7 35.9 7.8%
Gross profit margin (in %) 44.8 47.0
Adjusted EBITDA 4.0 9.9 -59.6%
Adjusted EBITDA margin (in %) 4.6 12.9
Non-recurring effects 0.0 7.0 -100%
thereof due to IPO 0.0 6.3
EBITDA 4.0 2.9 37.9%
EBITDA margin (in %) 4.6 3.7
Adjusted net result for the period -0.7 -1.9 63.2%
Adjusted earnings per share (in EUR) -0.04 -0.32 87.5%
Non-recurring effects incl. calc. tax
effect 1.2 8.7 -86.2%
thereof due to IPO 0.0 4.4
Net result for the period -1.9 -10.6
Earnings per share (in EUR) -0.11 -1.79
Cash flow from operating activities -10.9 -14.2 23.2%
Capital expenditure 5.2 5.7 -8.8%
March 31, 2011 Dec 31, 2010
Total assets 288.0 295.0 -2.4%
Shareholders' equity 96.8 100.2 -3.4%
Equity ratio (in %) 33.6 34.0
Liquid funds 5.4 22.5 -76.0%
Net debt 70.6 52.1 35.5%
Points of sale March 31, 2011 Dec 31, 2010 ChangeAbout TOM TAILOR
Retail stores 173 158 +15
Franchise stores 175 175 +/-0
Shop-in-shops 1,508 1,441 +67
TOM TAILOR - Casual fashion for a casual life!
The TOM TAILOR Group is an international and vertically integrated
lifestyle company. It offers stylish casual wear and accessories for men,
women, teenagers and children in the medium price range. Since the
Company's establishment in 1962 its authentic fashions have highlighted a
positive and light-hearted attitude to life. Every year 12 collections are
developed for each of the product lines TOM TAILOR Casual and TOM TAILOR
Denim. The high-quality fashion sphere is complemented by 19 licensed
product groups. The Group distributes its collections via the wholesale and
retail segments. TOM TAILOR is a dynamic company that has been growing and
expanding continuously for many years. At the end of the first quarter of
2011, TOM TAILOR was represented by 173 dedicated stores, the TOM TAILOR
e-shop, 175 franchise stores, 1,508 shops-in-shops, and over 6,000
multi-label sales centres in 35 countries. The TOM TAILOR Group reported
revenues of EUR 86.3 m in Q1 2011 (Q1 2010: EUR 76.4 m). The Company
employs 1,280 people worldwide (as of 31 March 2011).
Press and investor contact
Dr Andrea Rolvering
Head of Investor Relations&Corporate Communications
TOM TAILOR Holding AG
Phone: +49 (0) 40 58956-429
Fax: +49 (0) 40 58956-498
Email: anr(at)tom-tailor.com
Erika Kirsten
Corporate PR
TOM TAILOR GmbH
Phone: +49 (0) 40 58956-420
Fax: +49 (0) 40 58956-498
Email: ek(at)tom-tailor.com
Information also available at www.tom-tailor.com.
End of Corporate News
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Language: English
Company: TOM TAILOR Holding AG
Garstedter Weg 14
22453 Hamburg
Deutschland
Phone: +49 (0) 40 589 56 0
Fax: +49 (0) 40 589 56 398
E-mail: info(at)tom-tailor.com
Internet: www.tom-tailor.com
ISIN: DE000A0STST2
WKN: A0STST
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart
End of News DGAP News-Service
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123939 11.05.2011Unternehmensinformation / Kurzprofil:
Datum: 11.05.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 34020
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