DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group generates significant increase in sales in the first half of 2016


DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s):
Half Year Results/Quarter Results
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK Group
generates significant increase in sales in the first half of 2016

26.07.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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Corporate News 

LUDWIG BECK Group generates significant increase in sales in the first half
of 2016

Munich, July 26, 2016 - The Munich fashion group LUDWIG BECK (ISIN DE
0005199905) recorded a substantial growth in sales in the first half of
2016, attributable to the WORMLAND segment newly acquired in May 2015. The
German fashion trade concluded the first six months of the year under
report with a cumulative 1% decline in sales.

Development of sales
At group level, LUDWIG BECK generated gross sales in the amount of EUR
79.5m (previous year: EUR 56.8m). The new WORMLAND segment contributed EUR
35.0m to this result (previous year: EUR 11.2m). The LUDWIG BECK segment
including the flagship store at Marienplatz in Munich with sales amounting
to EUR 44.5m (previous year: EUR 45.6m) produced a slight decrease,
basically due to erratic weather conditions prevailing over extended
periods of time. The online store at www.ludwigbeck.de continued its
positive performance trend also in the past half-year.

Earnings situation
The Group's gross profit reached EUR 31.2m (previous year: EUR 23.3m). The
gross profit margin was at 46.7% (previous year: 48.9%). This decline was
not only due to the development of sales but also to the continuous sell-
off of old WORMLAND stocks and the intensified sell-off of old goods in the
Theo branch in Oberhausen, which was closed on June 30, 2016 as scheduled.
In this context it also has to be mentioned that the launch of a new
WORMLAND branch in Nuremberg is planned for the fall of 2016. As per
reporting date, WORMLAND's stocks have been cleared by and large so that
the gross profit margin can be expected to rise in the second half of the
year.

Personnel expenses went up to EUR 15.4m (previous year: EUR 10.6m). Other
expenses were recorded in the amount of EUR 17.4m (previous year: EUR
11.1m).

At group level, earnings before interest and taxes (EBIT) amounted to EUR
-1.6m (previous year: EUR 11.3m). The LUDWIG BECK segment could improve its
result from EUR 1.1m to EUR 1.6m. The WORMLAND segment recorded an EBIT of
EUR -3.2m.

Consolidated earnings before taxes (EBT) came to EUR -2.1m (previous year:
EUR 10.8m).

Outlook
The development in the first half of the year has provided proof that the
measures initiated by LUDWIG BECK to integrate WORMLAND are taking hold and
that the new segment has made an important step towards consolidation.

Dieter Münch, member of the Executive Board of LUDWIG BECK AG, stated: In
the medium term, we will lead WORMLAND back to its original strength and
economic efficiency.

At the same time the management is keeping a watchful eye on potential
changes of the political and macroeconomic framework conditions in Germany
and in Europe. At any rate, an event like the recent killing spree in the
Olympia shopping mall (OEZ) in Munich provides an example of some
unforeseen occurrences that can significantly affect a forecast.
Furthermore, it is currently impossible to predict whether the terrorist
attacks committed in Europe will lead to distinctly slackened tourist
traffic in the second half of 2016.

At present, the Executive Board expects sales of goods at group level to
reach between EUR 180m and EUR 190m and earnings before interest and taxes
(EBIT) to amount to EUR 8m to EUR 9m.

The comprehensive Half-year Report for the fiscal year 2016 is published
online at http://kaufhaus.ludwigbeck.de/english/ under Investor Relations,
in the Financial Publications section under the heading Quarterly Reports.

Key figures of the Group
<pre>
in EURm                                1/1/2016 -              1/1/2015 -
                                        6/30/2016               6/30/2015
Gross sales                                  79.5                    56.8
Net sales                                    66.8                    47.7
Earnings before interest,                     0.5                    13.0
taxes, depreciation and
amortization (EBITDA)
Earnings before interest                     -1.6                    11.3
and taxes (EBIT)
Earnings before taxes                        -2.1                    10.8
(EBT)
Earnings after taxes                         -2.4                    10.6
Equity (at end of period                     74.0                    74.9
6/30)
Equity ratio in % (at end                    56.9                    52.0
of period 6/30)
Earnings per share (in                      -0.64                    2.88
EUR)
Investments                                   2.0                     0.8
Employees *)                                  882                     912
Apprentices (number)                           49                      53
</pre>
*) without apprentices

Segment information
<pre>
in EURm                                        LUDWIG BECK  WORMLAND  GROUP
Gross sales                                           44.5      35.0   79.5
Earnings before interest,                              3.2      -2.6    0.5
taxes, depreciation and
amortization (EBITDA)
Earnings before interest and                           1.6      -3.2   -1.6
taxes (EBIT)
</pre>

LUDWIG BECK  
LUDWIG BECK is one of the top fashion retail companies in Germany. In 2015,
with approximately 500 employees it generated gross sales of EUR 104m (as
per December 2015) on an area of about 12,400 sqm as well as through its
online shop.

LUDWIG BECK is located in the heart of Munich, directly at Marienplatz. On
seven floors the Munich fashion company showcases international fashion,
leather goods and accessories, exclusive cosmetics and with over 120,000
titles Europe's largest onsite collection of classical, jazz and world
music and audiobooks. Since the end of 2012, the singular brand portfolio
of the beauty department is also available for online shopping at
www.ludwigbeck.de. Customers can expect a unique selection of almost 10.000
products of more than 100 luxury and niche cosmetics brands.

WORMLAND:
THEO WORMLAND GmbH & Co. KG, based in Hanover, generated sales in the
amount of approximately EUR 80m (as per December 31, 2015) with 470
employees on a total area of about 14,800 sqm in 2015. The group of
companies is based on two differing store concepts: WORMLAND and THEO.
Today, THEO WORMLAND GmbH & Co. KG ranges among Germany's top men's fashion
retailers with a total of 14 outlets.

Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 28 80 81 - 33
f: +49 89 28 80 81 - 49
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


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26.07.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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:      Regulated Market in Frankfurt (Prime Standard), Munich;  
                Regulated Unofficial Market in Berlin, Dusseldorf,       
                Hamburg, Stuttgart, Tradegate Exchange                   
 
 
   End of News    DGAP News Service  
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485705 26.07.2016