DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends 1st quarter with 2.4% gain in sales

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DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Quarter Results/Development of Sales
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends
1st quarter with 2.4% gain in sales

23.04.2014 / 08:00

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Corporate News

LUDWIG BECK ends 1st quarter with 2.4% gain in sales

Munich, April 23, 2014 - Munich Fashion Group LUDWIG BECK (ISIN DE
0005199905) ends the 1st quarter of the 2014 fiscal year with an increase
in sales. Consideration deserves the fact that this year's revenue effect
of Easter business will be delayed into the 2nd quarter.

Development of sales
In the 1st three months of the 2014 fiscal year, LUDWIG BECK generated
gross sales of EUR 21.8m on Group level (previous year: EUR 21.3m),
corresponding a 2.4% increase. The main reasons are consumer-friendly
weather conditions and an undampened shopping mood among consumers.
According to TextilWirtschaft(TW), the fashion retail sector also generated
a 3% gain in the same period. The flagship store at Munich Marienplatz,
again, contributed the biggest portion to sales. Likewise, the development
underlined the great popularity of the relatively young online store. Thus,
the 1st quarter, usually the one generating the lowest sales, fulfilled
management's expectations even without the effect of Easter sales.

Earnings situation
Gross profits showed a neutral development, amounting to EUR 8.8m, similar
to the previous year, due to one-time positive special items adding to last
year's 1st quarter. The gross profit margin reached 48.0% (previous year:
49.0%).

With EUR 8.3m, the absolute amount of expenses netted against corresponding
income was higher than in the previous year with EUR 7.8m. Mainly
responsible were a 6.5% pay raise for the company's employees effective in
the 2nd quarter of 2013 and higher distribution costs in connection with
the online store.

The operating result (EBIT) reached EUR 0.5m (previous year: EUR 1.0m). The
EBIT margin was at 2.5% (previous year: 5.4%).

Earnings before taxes (EBT) reached EUR 0.2m (previous year: EUR 0.6m).  

Net profit for the period amounted to EUR 0.2m compared to last year's EUR
0.4m.

Outlook 
For the remainder of the business year, the Group continues to rely on the
implementation of its successful Trading Up strategy. The Executive Board
trusts the dynamic of its own economic strength in connection with
favorable political, economic and weather conditions. The grand re-opening
of Men's Fashion on the lower ground floor of the Munich flagship store on
an enlarged sales area will be a highlight of the current business year. It
comes with further quality upgrades in presentation and product line. "On
now 1,500 sqm, we create a top address for classy upscale apparel for
fashion conscious men," so Dieter Münch, member of the LUDWIG BECK
Executive Board. Furthermore, the Executive Board expects the online store
www.ludwigbeck.de to continue its strong positive development as
top-selling second pillar next to the in-store business.

Considering these driving forces, the Executive Board expects a sales
growth in the middle one-figure percentage area and a result at the level
of the previous year for the 2014 business year.

A detailed interim report for the 1st quarter will be published online at
www.ludwigbeck.de/english under Investor Relations, Financial Publications
in the Quarterly Reports section.

Key Figures of the Group

<pre>

                                                         1/1/2014  1/1/2013
                                                                -         -
in EURm                                                  3/31/2014
3/31/2013
Gross sales                                                  21.8      21.3
Net sales                                                    18.3      17.9
Earnings before interest, taxes, depreciation and
amortization (EBITDA)                                         1.2       1.7
Earnings before interest and taxes (EBIT)                     0.5       1.0
Earnings before taxes (EBT)                                   0.2       0.6
Net profit for the period                                     0.2       0.4
Equity (at end of period 3/31)                               64.4      59.9
Equity ratio in % (at end of period 3/31)                    60.3      56.4
Earnings per share (in EUR)                                  0.05      0.11
Investments                                                   0.6       0.4
Employees (at end of period 3/31)*)                           457       462
Apprentices (Number)                                           44        49


</pre>

 *) without apprentices

LUDWIG BECK
The Munich Fashion Group is one of the top fashion retail companies in
Germany. With approx. 500 employees on an area of almost 11,600 m2, it
(incl. ludwigbeck.de GmbH) generates EUR 102.1m in sales (as of December
31, 2013).

LUDWIG BECK is located at Marienplatz in the heart of Munich. On seven
floors LUDWIG BECK presents international fashion, leather goods and
accessories, and exclusive cosmetics. With more than 120,000 songs, it
offers the biggest collection of classical music, jazz, world music and
audio books of any in-store location in Europe. Launched at the end of
2012, LUDWIG BECK is now offering the extraordinary brand portfolio of its
beauty department online at www.ludwigbeck.de. A unique selection of more
than 9,000 products featuring more than 90 luxury and niche cosmetics
brands awaits online customers.

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


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      
 
 
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