Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Quarter Results 22.04.2009 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, April 22, 2009 - Even in the face of the downward swing worldwide, the LUDWIG BECK Group (ISIN DE0005199905) was once again able to distance itself from the average 5 % drop in sales endured by the retail trade in general, and to generate branch-adjusted gross sales on last year's level in the 1st quarter of 2009. Development of sales In the months from January to March 2009 gross sales on group level (without branch-adjustment) dropped slightly by 0.8 % and amounted to EUR 21.4m in the 1st quarter of 2009 in comparison to EUR 21.6m in the previous year. Branch-adjusted gross sales (the Regensburg s.Oliver branch was sold in September 2008) reached last year's level. As usual, the flagship store at Marienplatz with sales amounting to EUR 18.6m (excl. FÜNF HÖFE) accounted for the largest portion, slightly increased by 1.5 % as compared to the previous year (EUR 18.3m). The development of sales was not only influenced by unfavorable economic conditions but also by the fact that this year's Easter sales fell in April while the year before they had positively affected the March result. Earnings situation In the first three months of the fiscal year 2009 the LUDWIG BECK Group improved gross proceeds by 1.7 % from EUR 8.4m to EUR 8.5m. The gross profit margin ratio amounting to 47.4 % could be increased by 1.1 percentage points in comparison to the previous year (46.3 %). The expense ratio (expenses against corresponding proceeds) could be reduced by 0.5 percentage points to 44.9 % in the 1st quarter of 2009 (previous year: 45.4 %). Absolute expenses against corresponding proceeds went down from EUR 8.2m in the 1st quarter of the previous year to EUR 8.1m in the reporting period. The EBIT development was marked by a significant EUR 0.3m increase from EUR 0.2m in the corresponding quarter of the previous year to EUR 0.5m in the 1st quarter of 2009. The net loss which had amounted to EUR -0.5m in the 1st quarter of 2008 could be cut by 39.5 % to EUR -0.3m in the first three months of 2009. Consequently, the development of sales in the first three months of the fiscal year turned out to be distinctly better than expected. Outlook Generally, for leading economic research institutes as well as for enterprises it proves difficult to make reliable forecasts for the further course of the year 2009 and beyond since the presently unfolding crisis cannot be compared to any other. The general economic prospects for Germany remain dim: The Institute of International Economics (HWWI) in Hamburg predicts a 3.8 % decline in the real gross domestic product (GDP) for the year. The German Retail Federation (HDE) diagnosed sustained market strain for the retail trade and expects nominal retail turnover to range between 0 to -1 % in 2009. 'The framework conditions could hardly be worse. In spite of that and actually because of that we rely exclusively on our own business performance and development. Our 'trading-up' concept is beginning to bear fruit', Dieter Münch, member of the Executive Board of LUDWIG BECK AG explained. 'We are expecting significant earnings in the current fiscal year which should exceed the 4 % EBT margin. The development of sales presented a positive surprise to us', Münch concluded. The detailed three months' report will also be published on the Internet under www.ludwigbeck.de/Financial Publications. The printed version will be available as of April 29, 2009. Key Figures of the Group in EURm Jan. 1 - Mar. 31, 2009 (Jan. 1 - Mar. 31, 2008) Gross sales (incl. sales tax) 21.4 (21.6) Gross profit1) 8.5 (8.4) Earnings before interest, taxes, depreciation and amortization (EBITDA) 1.3 (1.1) Operative result (EBIT) 0.5 (0.2) Net loss -0.3 (-0.5) Earnings per share (in EUR) -0.09 (-0.15) Investments 0.7 (1.0) Employees (number)2) 513 (524) 1) Net sales minus cost of materials; 2) 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 22.04.2009 --------------------------------------------------------------------------- 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 reported successful 1st quarter of 2009 - Sales remained on last year's level, significantly higher results surpassing all expectations
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