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
performs satisfactorily in 1st quarter - new online shop gains strong
momentum
18.04.2013 / 08:00
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Corporate News
LUDWIG BECK performs satisfactorily in 1st quarter - new online shop gains
strong momentum
Munich, April 18, 2013 - Given the adverse weather conditions, the
Executive Board of LUDWIG BECK AG (ISIN DE 0005199905) finds the company's
performance in the first quarter to be very satisfactory. The new online
shop for beauty products (www.ludwigbeck.de) was just launched at the end
of 2012 and is already on the road to success.
Development of sales
From January to March 2013, the Group achieved gross sales of EUR 21.3m
compared to EUR 22.9m in the previous year. In addition to prolonged cold
weather completely ruining the beginning of spring business, two missing
shopping days also had an impact. Last year, the Esprit branch at OEZ,
which was sold at the end of June, positively influenced the Group's sales
figures with EUR 0.8m. On the other hand, sales of ludwigbeck.de GmbH,
launched in December 2012 to operate LUDWIG BECK's online beauty shop,
developed exceedingly positive and clearly surpassed management's
expectations. The HAUTNAH franchise in FÃNF HÃFE defied the unfavorable
climate conditions and generated great sales figures.
Earnings situation
Earnings reflected the prolonged bad weather conditions and expected
start-up expenses for ludwigbeck.de GmbH. Thus LUDWIG BECK generated a
gross profit of EUR 8.8m (previous year: EUR 9.4m) in the first quarter of
2013. Last year's gross profit included EUR 0.3m from the Esprit branch at
OEZ, which was sold at the end of June. The gross profit margin rose to
49.0% (previous year: 48.7%).
With EUR 7.8m, the absolute amount of expenses netted against corresponding
income was slightly higher than in the previous year with EUR 7.5m. This
increase was predominantly caused by the on-schedule start-up costs of
ludwigbeck.de GmbH in the areas of personnel, administration as well as
sales and marketing.
Accordingly, the EBIT for the first quarter of 2013 amounted to EUR 1.0m
(previous year: EUR 1.8m). The EBIT margin was at 5.4% compared to 9.6% in
2012.
Earnings before taxes (EBT) reached EUR 0.6m (previous year: EUR 1.4m). Net
profit for the period amounted to EUR 0.4m compared to last year's EUR
0.9m.
Nonetheless, this performance reflects a typical retail earnings cycle and
is still within the planning parameters of the corporation.
Outlook
Despite a mild recession in the Euro zone, Germany is currently recovering
from the economic downturn that defined the last quarter of 2012. The Kiel
Institute for the World Economy (IfW) states that investment activities are
gradually increasing and utilization of industrial capacity is
significantly growing. Thus hopes are high for a moderate 0.6% increase of
the Gross Domestic Product during the rest of the year. With the job market
remaining strong and additional tax cuts on the horizon, consumer spending
will also show a slight growth of 0.6%, the researchers reckon. The
Association for Consumption Research (GfK) also sees German consumer
confidence stabilizing, unfazed by the current crisis in Cyprus. Based on
the latest research, the GfK optimistically estimates a 1% increase in
private spending. An assessment shared by the German Retail Association
(HDE), whose calculations generated the same figures for the retail trade.
At the same time, the HDE expects online sales to again rise 12% and reach
33b Euro.
It is the view of the LUDWIG BECK management that these trends are, again,
confirming the Group's strategy. Because of its unique location, its
premium selection and sales culture, the Marienplatz flagship store will
definitely continue to generate the same excellent results as in previous
years. With its new path into online sales, the company is, at the same
time, perfectly equipped to activate as yet fallow potentials in an
attractive growing market. 'We are well positioned for 2013 and we trust,
as we did in the past, in our own company dynamic. Adverse weather
conditions will not deter us from our course,' says Dieter Münch, Executive
Board member of LUDWIG BECK AG.
The Executive Board still anticipates a branch-adjusted sales growth on
group's level of 4% to 6% and earnings before taxes (EBT) between EUR 11.0m
and EUR 13.0m for the current fiscal year.
The detailed Interim Report will be published online at
http://kaufhaus.ludwigbeck.de in the 'Financial Publications' section under
'Quarterly Reports'.
Key Figures of the Group
<pre>
in EURm 1/1/2013 1/1/2012
- -
3/31/2013
3/31/2012
Gross sales 21.3 22.9
Net sales 17.9 19.2
Earnings before interest, taxes, depreciation and
amortization (EBITDA) 1.7 2.6
Operating result (EBIT) 1.0 1.8
Earnings before taxes (EBT) 0.6 1.4
Net profit for the period 0.4 0.9
Equity 60.2 54.5
Equity ratio in % 56.7 51.7
Earnings per share (in EUR) 0.09 0.24
Investments 0.4 0.3
Employees (number at relevant date 3/31)1) 462 443
</pre>
1) without apprentices
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 2 36 91 - 798
f: +49 89 2 36 91 - 600
jens.schott@ludwigbeck.de
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 2012, LUDWIG BECK generated gross sales of EUR 103.2m and earnings
before taxes (EBT) of EUR 12.1m.
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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207500 18.04.2013
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK performs satisfactorily in 1st quarter - new online shop gains strong momentum
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