Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Final Results 11.03.2009 Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Munich, March 11, 2009 - The LUDWIG BECK Group (ISIN DE 0005199905) concluded the fiscal year 2008 with branch-adjusted sales up 1.8 %; earnings before taxes (EBT) were increased by 42.8 %. Development of sales In a burdensome fiscal year for the textile retail trade the fashion house was able to increase branch-adjusted gross sales by EUR 1.9m in comparison to the previous year to EUR 102.6m (previous year: EUR 100.7m). This equals a 1.8 % plus. According to TextilWirtschaft, the branch suffered a 4 % drop in sales. LUDWIG BECK finished the lapsed fiscal year with branch-unadjusted sales amounting to EUR 102.6m (previous year: EUR 103.5m). Net sales were EUR 86.2m (previous year: EUR 87.0m). Earnings situation Earnings before interest, taxes and depreciation (EBITDA) went up from EUR 11.0m in the previous year to EUR 12.2m. The EBITDA margin relating to net sales was 14.2 % (previous year: 12.6 %). The operative result (EBIT) went up 13.5 % to EUR 8.1m in comparison to EUR 7.2m in 2007. Earnings before taxes (EBT) could also be increased in the fiscal year 2008; they amounted to EUR 4.4m (previous year: EUR 3.1m), corresponding to a 42.8 % rise. The consolidated net profit was EUR 2.7m (previous year: EUR 2.6m). Non-recurrent effects of the corporate tax reform in the amount of EUR 0.8m had positively affected the previous year. In the fiscal year 2008, earnings per share on an average of 3.70m outstanding shares amounted to EUR 0.73 (previous year: EUR 0.76 for 3.39m shares). Dividend payment In the fiscal year 2009, LUDWIG BECK continued its shareholder-friendly dividend policy. Therefore Executive Board and Supervisory Board will propose to the General Meeting on May 15, 2009 to distribute a EUR 0.30 dividend per share. Thus LUDWIG BECK presents itself as a reliable dividend-bearing security once again, and shows that its promise - to let all shareholders participate in the company's success - will be kept also in times of economic crisis. Outlook In view of the still uncertain economic framework conditions, it is of course difficult to make long-term forecasts about the development of business; yet LUDWIG BECK relies on its own individual business cycle even in the midst of slackening economic activity. The development of sales up to now was not curbed by the general economic dullness and the Munich fashion house could therefore improve gross sales by 1.8 % as per February 2009. LUDWIG BECK expects the renovation measures carried out in 2008 and the creation of new sales space to become effective in the course of the fiscal year 2009. The company will continue to focus on upgrading product ranges and sales spaces within the scope of the trading up strategy followed for many years. The Designer Department on the 3rd floor is currently being developed into a new highlight and enlarged by approximately 700 sqm. The management expects this measure to generate positive effects on the future development of sales. 'We believe that hard work will be required to score successes in the fiscal year 2009', explains Dieter Münch, Executive Board member of LUDWIG BECK AG. 'Nevertheless, we expect significant earnings exceeding the 4 % EBT margin', Münch concludes. Key figures of the Group in EURm 1/1-12/31/2008 (1/1-12/31/2007) Gross sales (including VAT) 102.6 (103.5) Gross profit1) 41.4 (41.0) Earnings before interest, taxes and depreciation (EBITDA) 12.2 (11.0) Operative result (EBIT) 8.1 (7.2) Earnings before taxes (EBT) 4.4 (3.1) Consolidated net profit 2.7 (2.6) Earnings per share (in EUR)2) 0.73 (0.76) Investments 8.6 (5.8) Employees (number)3) 538 (544) 1) Net profits from sales minus costs of material used; 2) Reference figure 2008: 3.70m shares; 2007: 3.39m shares; 3) Without apprentices Investor Relations contact: esVedra consulting GmbH Metis Tarta-Steck t: +49. 89. 28 80 81 - 33 f: +49. 89. 28 80 81 - 49 mts@esvedragroup.com Group accounting contact: LUDWIG BECK am Rathauseck Jens Schott t: +49. 89. 23691 - 798 jens.schott@ludwigbeck.de DGAP 11.03.2009 --------------------------------------------------------------------------- Language: English Issuer: 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@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 ---------------------------------------------------------------------------
DGAP-News: LUDWIG BECK presents consolidated financial statements for the fiscal year 2008 and reports strong increase in earnings
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