DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK concludes problematic Fiscal Year 2018
- 58
DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Annual Results/Annual Results Corporate News Munich, March 28, 2019 - The Munich Fashion Group LUDWIG BECK (ISIN DE 0005199905), alike fashion traders all over Europe, had to put up with constant structural pressures in the Fiscal Year 2018. Unpredictable climatic influences repeatedly curbed seasonal sales as well. Consequently, the sales and earnings situation reflected the negative industry trend and failed to meet expectations. Development of sales Earnings situation This corresponds to earnings before taxes (EBT) on Group level of EUR 1.1m (previous year: EUR 5.6m). The LUDWIG BECK segment accounted for EUR 6.9m (previous year: EUR 8.1m), while the WORMLAND segment's negative contribution came to EUR 5.8m (previous year: EUR -2.5m). The EBT margin was 0.8% (previous year: 3.8%). Taxes on income amounted to EUR 1.9m for the LUDWIG BECK segment (previous year: EUR 2.3m). No deferred tax assets were formed for the WORMLAND segment. The consolidated net profit/loss came to EUR -0.8m (previous year: EUR 3.3m). As per reporting date, December 31, 2018, the Group's equity totaled EUR 75.8m (previous year: EUR 79.4m). The equity ratio remained strong with 59.9% (previous year: 60.8%). Outlook Member of the Executive Board, Dieter Münch: "Even though the WORMLAND topic will still pose great challenges to us in 2019, we are convinced that after this transformational year LUDWIG BECK will progress strenghtened into the future, as LUDWIG BECK has experience in dealing with setbacks". After the difficult 2018 fiscal year, the Group will continue to rely on its traditional values and strive for sound stability in order to be able to take advantage of all growth potentials available. In that vein, the Executive Board expects the consolidated sales to range between EUR 165m and EUR 170m, and earnings before taxes (EBT) to reach between EUR 1.5m and EUR 2.5m in 2019. This forecast is subject to the assumption that WORMLAND will remain in the LUDWIG BECK Group until the end of 2019. The Executive Board and the Supervisory Board of LUDWIG BECK AG decided in January to initiate a structured selling process for WORMLAND, which is scheduled to be concluded in the first half of 2019. If no adequate sales price can be achieved, LUDWIG BECK will continue the restructuring of WORMLAND on its own. For further information regarding the company and the share please refer to the corporate website at https://kaufhaus.ludwigbeck.de/en/home. Key Figures of the Group
1) without apprentices About LUDWIG BECK 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. About WORMLAND: Investor Relations contact:
28.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | [email protected] |
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 |
EQS News ID: | 793019 |
End of News | DGAP News Service |
|
793019 28.03.2019
EQS Group is a leading international technology provider for Digital Investor Relations, Corporate Communications and Compliance. More than 8,000 companies worldwide trust EQS’s products and services to securely, efficiently, and simultaneously fulfil complex national and international disclosure and compliance requirements, and to reach stakeholders globally.