DGAP-News: Adler Modemärkte AG / Key word(s): Change in Forecast
Adler Modemärkte AG: ADLER Modemärkte confirms sales forecast by
adjusting profit expectation
14.12.2011 / 08:48
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Press Release
from Adler Modemärkte AG
ADLER Modemärkte confirms sales forecast by adjusting profit expectation
Haibach, 14 December 2011 - Adler Modemärkte AG (WKN A1H8MU, ISIN
DE000A1H8MU2) confirms revenue expectations on the basis of earnings for
the month of November. Growth is expected to amount to approximately 7% for
the year overall, with sales revenues for October and November considerably
outstripping the previous year.
Due to the current weakness of the textiles market and subdued winter and
Christmas business, gross profit will be lower than originally planned. The
Company therefore expects EBITDA (earnings before interest, taxes,
depreciation and amortisation) to be approximately 20% lower than the
previous year's EUR 37.8 million. That figure also includes costs incurred
in the course of the June 2011 IPO, as well as integration expenses arising
from the Wehmeyer acquisition.
'ADLER's business model remains in place and will lead to increased
earnings in 2012. The purchasing costs for the 2012 winter collection will
be further offset by lower-than-expected procurement prices', said Lothar
Schäfer, CEO of ADLER. Additionally, the share of merchandise procured
directly in Asia is being further expanded. The inclusion of outside brands
in the product range has proven highly successful and has appealed
particularly to the initial target group of 45 years and over, which we
would like to attract to our stores. The conversion and modernisation
measures implemented at the older stores have led to considerable
improvements in revenue, as expected. In 2012, the Company intends to
continue its policy of expanding by over 20 stores per year. 'Like-for-like
growth' will also be very positive for the existing stores. 'ADLER is
presently outperforming the market', added Lothar Schäfer. 'However, we are
not able to buck the present trend towards consumer restraint.'
Contact Adler Modemärkte AG:
Markus A. Launer, Ph.D.
Investor Relations & Corporate Communications
Transatlantic Investor Relations GbR
Tel.: +49 6021 633 1828
Fax: +49 6021 633 1417
E-mail: investorrelations@adler.de
End of Corporate News
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Language: English
Company: Adler Modemärkte AG
IndustriestraÃe Ost 1-7
63808 Haibach
Germany
Phone: +49 (0) 6021 633 0
Fax: +49 (0) 6021 633 1299
E-mail: info@adler.de
Internet: www.adlermode.com
ISIN: DE000A1H8MU2
WKN: A1H8MU
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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149660 14.12.2011
DGAP-News: Adler Modemärkte AG: ADLER Modemärkte confirms sales forecast by adjusting profit expectation
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