DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Quarter Results/Quarter Results
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends
1st quarter of 2012 with record earnings / branch-adjusted sales rise
7.8%
19.04.2012 / 08:00
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Corporate News
LUDWIG BECK ends 1st quarter of 2012 with record earnings / branch-adjusted
sales rise 7.8%
Munich, April 19, 2012 - In the first three months of the 2012 fiscal year,
Munich fashion group LUDWIG BECK (Security Identification Number: 519 990)
expanded its success at a high level, clearly exceeding last year's
earnings.
Development of sales
In the months from January to March 2012, the Group achieved gross sales in
the amount of EUR 22.9m, thus gaining 3.9%, compared to last year's EUR
22.0m. Like-to-like sales even rose by 7.8%, not only far exceeding the
expectations of the management, but also the development of the retail
industry, which ended the 1st quarter with a modest 1% increase (source:
TWTestclub). As before, the flagship store at Munich's Marienplatz
generated the lion share of the sales with EUR 22.1m (previous year: EUR
20.4m). A reliable guarantor of success, the 'Store of the Senses' achieved
a disproportionally high result and gained a remarkable 8.4%.
Earnings situation
In the 1st quarter of 2012, LUDWIG BECK's gross profit grew by 2.7% to EUR
9.4m compared to EUR 9.1m in the previous year. The gross profit margin was
at 48.7% (previous year: 49.3%).
The expense ratio (expenses against corresponding income) decreased by
6.0%-points from 45.1% in the previous year to 39.1%. The absolute amount
of expenses netted against corresponding income was only EUR 7.5m (previous
year: EUR 8.3m), primarily thanks to a decrease in other operating expenses
by more than EUR 0.8m. Last year showed EUR 0.7m in special anniversary
costs for this period.
All in all, EBIT amounted to EUR 1.8m, a EUR 1.0m increase compared to the
previous year (EUR 0.8m). Accordingly, at 9.6%, the EBIT margin was high
compared to 4.2% in the 1st quarter of 2011.
Earnings before taxes (EBT) climbed even higher and reached EUR 1.4m
(previous year: EUR 0.2m). The EBT margin was 7.2% (previous year: 1.0%)
Net profits for the first three months of 2012 rose from last year's EUR
0.1m to EUR 0.9m.
Therefore, yield development for the 1st quarter of 2012 can only be
described as highly satisfactory.
Outlook
Economic experts agree: After a good start in 2012, the German economy will
experience further growth over the course of the year. The Kiel Institute
for the World Economy (IfW) anticipates economic growth of 0.7%, the
Hamburg Institute of International Economics (HWWI) expects a 0.5%
increase. According to the Association for Consumption Research (GfK), the
retail industry can look forward to a slight rise of 1% in consumer
spending. Many German managers share the positive mood, and pushed up the
Ifo-Institute's business climate index for the fourth consecutive time.
Dieter Münch, Executive Board member of LUDWIG BECK AG, has a very positive
outlook on the Group's further path: 'LUDWIG BECK's running start into the
year 2012 was an impressive confirmation for the strategic approach of the
Group. Especially the strong increase in sales was a great surprise for
us!'
Based on these deliberations, the LUDWIG BECK management confirms its
already published forecast for the current fiscal year of a branch-adjusted
sales growth by 2% to 3 % and earnings before taxes (EBT) between EUR 10.0m
and EUR 12.0m.
The detailed Three Months' Report will be published on the Internet at
www.ludwigbeck.de in the 'Quarterly Reports' section under 'Financial
Publications'.
Key Figures of the Group
|[![CDATA[|[pre|]]]|]
in EURm 1/1/2012 - 1/1/2011 -
3/31/2012
3/31/2011
Sales (gross) 22.9 22.0
Sales (net) 19.2 18.5
Gross profit1) 9.4 9.1
Earnings before interests, taxes on
income, depreciation and
amortisation (EBITDA) 2.6 1.5
Operational result (EBIT) 1.8 0.8
Earnings before taxes on income (EBT) 1.4 0.2
Net profit for the period 0.9 0.1
Earnings per share (in EUR) 0.26 0.03
Investments 0.3 0.5
Employees
(number at relevant date 3/31)2) 443 466
|[![CDATA[|[/pre|]]]|]
1) Net profits from turnover minus costs of material used; 2) without
apprentices
About LUDWIG BECK
Founded in 1861 as a trimmings and button-making workshop with four
journeymen and one apprentice, over time, LUDWIG BECK advanced to become
one of the most innovative retail businesses in Germany.
Located at Marienplatz in the heart of Munich, with a sales area of 11,500
m2 spread over seven floors, and close to 500 employees, LUDWIG BECK offers
an extraordinary blend of goods in its selection: hip fashion, exclusive
leather goods and accessories, unique beauty products, original gift ideas,
traditionally exquisite sewn and knitted creations, and the finest of
auditory pleasures.
In 2011, LUDWIG BECK generated gross sales of EUR 103.3m and earnings
before taxes (EBT) of EUR 11.3m.
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021-210
f: +49 89 206021-610
mt@esvedragroup.com
Group accounting contact:
LUDWIG BECK am Rathauseck
Jens Schott
t: +49 89 23691 - 798
f: +49 89 23691 - 600
jens.schott@ludwigbeck.de
End of Corporate News
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Language: English
Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Marienplatz 11
80331 München
Germany
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
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165504 19.04.2012
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends 1st quarter of 2012 with record earnings / branch-adjusted sales rise 7.8%
| Source: EQS Group AG