DGAP-News: Ahlers AG: Ahlers reports 7.6 percent revenue growth for H1 2013/14 * Jeans & Workwear segment grows by 14 percent * Premium brands achieve 7.6 percent increase in sales revenues * EBIT and consolidated net income increase at double to three-digit rates

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| Source: EQS Group AG
DGAP-News: Ahlers AG / Key word(s): Half Year Results
Ahlers AG: Ahlers reports 7.6 percent revenue growth for H1 2013/14 *
Jeans & Workwear segment grows by 14 percent * Premium brands achieve
7.6 percent increase in sales revenues * EBIT and consolidated net
income increase at double to three-digit rates

15.07.2014 / 09:34

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July 15, 2014

PRESS RELEASE

Ahlers reports 7.6 percent revenue growth for H1 2013/14
  - Jeans & Workwear segment grows by 14 percent 
  - Premium brands achieve 7.6 percent increase in sales revenues 
  - EBIT and consolidated net income increase at double to three-digit
    rates
  - Positive expectations for the full year 2013/14 

Following strong growth of 9.3 percent in the first three months of 2013/14
Ahlers reported a sharp 5.1 percent increase also for the second quarter.
Total sales revenues for the six-month period rose by 7.6 percent to EUR
123.9 million (previous year: EUR 115.2 million).

"We were able to grow strongly in the German market against the general
industry trend. We are also pushing ahead our international expansion, with
store openings in Poland and the Baltics, for instance. Gin Tonic is also
back on the growth path," said Dr. Stella A. Ahlers, CEO of Ahlers AG.

The traditionally dynamic Premium segment was in line with the general
growth trend of the company and reported a 7.6 percent increase in sales
revenues to EUR 79.1 million (previous year: EUR 73.5 million), which
represents an unchanged 64 percent of total revenues. All brands, i.e.
Baldessarini, Pierre Cardin and Otto Kern, grew strongly, with Baldessarini
even posting a double-digit growth rate. Sales in the Jeans & Workwear
segment picked up 14 percent in the reporting period to EUR 34.8 million
(previous year: EUR 30.5 million). In this segment, too, all brands were
able to increase their revenues: Pioneer Authentic Jeans, Pionier Jeans &
Casuals and Pionier Workwear. The segment's share in total revenues climbed
from 26 percent to 28 percent.

The discontinuation of Gin Tonic Retail activities shaved EUR 1.2 million
or 11 percent off the Men's & Sportswear segment's revenues. The segment
currently accounts for 8 percent (previous year: 10 percent) of total sales
revenues. The continued Wholesale operations of Jupiter and Gin Tonic grew
moderately in the reporting period.

Notable improvement in EBIT and consolidated net income
As a result of the increase in sales revenues, Ahlers' EBIT before special
effects also picked up sharply by EUR 2.0 million or 182 percent. Due to
positive influences in the previous year, earnings before and after taxes
increased at a slightly lower rate than EBIT before special effects. Both
results nevertheless grew at high percentage rates. Earnings before taxes
soared 156 percent to EUR 2.3 million (previous year: EUR 0.9 million) and
consolidated net income rose by 70 percent to EUR 1.7 million (previous
year: EUR 1.0 million).

Equity ratio of 60 percent reflects solid financial position 
The balance sheet for the period ended May 31, 2014 again posted a solid
equity ratio of 60 percent (previous year: 61 percent). Both equity, at EUR
105.0 million (previous year: EUR 105.5 million), and total assets, at EUR
176.3 million (previous year: EUR 174.6 million), were largely unchanged
compared to the prior year period. The cash flow from operating activities
increased sharply from EUR -1.8 million to EUR +5.6 million in the first
six months of the year. On the one hand, this was due to the improved
consolidated net income. On the other hand, Ahlers reduced its inventories
in H1 2013/14, which had been expanded in the first six months of the
previous fiscal year.

Ahlers projects 5 - 6 percent revenue growth and double-digit increase in
EBIT before special effects for the full year of 2013/14
Pre-sales for the 2014 autumn/winter season clearly exceed the prior year
level. In addition to rising pre-order figures, the company expects higher
stock and Retail sales. The Management Board expects sales revenues for the
full year to grow by 5 to 6 percent and projects a strong increase in EBIT
before special effects.

The Management Board and the Supervisory Board jointly decided to continue
Gin Tonic on a permanent basis at the Herford headquarters. The
Sindelfingen branch will therefore be closed, which will entail significant
extraordinary expenses. From today's point of view, the Management Board
expects consolidated net income to come in at about the prior year level
(2012/13: EUR 5.6 million). The relocation will clearly improve the results
of Gin Tonic and, hence, also the Group's total result as of the fiscal
year 2014/15. The Management Board of Ahlers AG projects a positive cash
flow trend for the fiscal year 2013/14, which should allow the company to
pay out a satisfactory dividend.

Summary of Ahlers Group figures:

in EUR million                     H1 2013/14    H1 2012/13   Change in %

Sales                                   123,9         115,2           7,6
EBIT before special effects               3,1           1,1         181,8
Consolidated net income before taxes      2,3           0,9         155,6
                        after taxes       1,7           1,0          70,0
Cash flow from operating activities       5,6          -1,8          n.a.
Employees (May 31)                      2.235         2.203           1,5
Equity ratio (in %)                      59,5          60,4 


Inquiries should be sent to:

Ahlers AG
Götz Borchert 
Head of Marketing & Corporate Communications
Phone: +49 (0)5221/ 979 270 
E-mail: goetz.borchert@ahlers-ag.com

Yvonne Georgi 
Ahlers AG 
Public Relations
Phone: +49 (0)5221/ 979-260 
Fax: +49 (0)5221/ 979-274
E-mail: yvonne.georgi@ahlers-group.com


End of Corporate News

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Language:    English                                               
Company:     Ahlers AG                                             
             Elverdisser Straße 313                                
             32052 Herford                                         
             Germany                                               
Phone:       +49 (0)5221 979-0                                     
Fax:         +49 (0)5221 70058                                     
E-mail:      ahlers-ag@ahlers-ag.com                               
Internet:    www.ahlers-ag.com                                     
ISIN:        DE0005009708, DE0005009732                            
WKN:         500970, 500973                                        
Listed:      Regulierter Markt in Düsseldorf, Frankfurt (Prime     
             Standard); Freiverkehr in Berlin, Hamburg, Stuttgart  
 
 
End of News    DGAP News-Service  
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