DGAP-News: Ahlers AG: Ahlers' Premium segment increases

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Jul 11, 2013 at 4:45 AM

DGAP-News: Ahlers AG: Ahlers' Premium segment increases sales revenues by 3.4 percent in H1 against downward market trend. Total revenues down by 5.3 percent due to discontinuation of Gin Tonic Woman and weather-related slow business.

DGAP-News: Ahlers AG / Key word(s): Half Year Results/Interim Report Ahlers AG: Ahlers' Premium segment increases sales revenues by 3.4 percent in H1 against downward market trend. Total revenues down by 5.3 percent due to discontinuation of Gin Tonic Woman and weather-related slow business. 11.07.2013 / 09:42 --------------------------------------------------------------------- July 11, 2013 PRESS RELEASE Ahlers' Premium segment increases sales revenues by 3.4 percent in H1 against downward market trend. Total revenues down by 5.3 percent due to discontinuation of Gin Tonic Woman and weather-related slow business. At EUR 1.0 million, consolidated net income after taxes is below prior year level (EUR 2.7 million) due to lower sales revenues and start-up costs for Retail segment and e-commerce. Equity ratio remains above 60 percent. Stable earnings projected for full year 2012/13. Baldessarini and Pierre Cardin, the company's Premium brands, both grew in the first half of 2012/13, thus pushing up segment revenues by 3.4 percent to EUR 73.5 million (previous year: EUR 71.1 million). As a result, the Premium segment's contribution to total sales revenues increased from 58 percent in the prior year period to 64 percent in the first half year of 2012/13. Last year the Management Board decided to reorganise Gin Tonic from scratch and to give up the ladieswear activities. The discontinuation of Gin Tonic Woman led to a 2.9 percent decline in sales revenues. Due to the cold weather throughout Europe, sales in the clothing retail sector dropped sharply. As a result, intra-seasonal orders received by Ahlers were lower than in the previous year, reducing sales by another 2.4 percent. At EUR 115.2 million, total sales revenues were down by 5.3 percent on the previous year's EUR 121.6 million. Sales revenues in the company's own Retail segment increased by 5 percent in spite of the difficult market situation in the first half year and the closure of several Gin Tonic Stores. Accordingly, the Retail segment's relative contribution to total sales climbed from 10.3 percent to 11.3 percent. At EUR 1.0 million, first-half earnings after taxes were lower than in the prior year period (EUR 2.7 million). The EUR 1.7 million decline in gross profit resulting from the lower sales revenues and additional expenses for the company's own Retail operations, the start-up of the e-commerce business and the related additional marketing expenses were responsible for the decline in earnings in more or less equal measure. As of May 31, 2013, Ahlers had a solid equity ratio of 60.4 percent (previous year: 62.4 percent). Net working capital declined from EUR 1.4 million to EUR 83.7 million due to lower receivables. The Management Board of Ahlers AG expects both sales revenues and earnings to pick up in the second half of 2013 in spite of the discontinuation of Gin Tonic Woman. This forecast is based on good incoming orders and new retail spaces and, hence, growing Retail revenues. For the full year 2012/13, the Management Board expects to more or less reach, or maybe slightly exceed, the prior year result of EUR 7.3 million. While the first half of 2012/13 was disappointing, the preconditions for a good second half-year 2013 are in place. Summary of Ahlers Group figures: <pre> in EUR millions H1 2012/13 H1 2011/12 Change in % Sales revenues - continued activities 115.1 118.0 -2.4 - incl. Gin Tonic Woman 115.2 121.6 -5.3 EBITDA before special effects 3.7 7.4 -50.0 EBIT margin (in %) before special effects 1.0 3.8 -2.8 Consolidated net income after taxes 1.0 2.7 -63.0 Equity ratio (in %) 60.4 62.5 -2.1 Employees as of the reporting date 2,203 2,181 +1.0 </pre> End of Corporate News --------------------------------------------------------------------- 11.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Ahlers AG Elverdisser StraÃ?e 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 DÃ¼sseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 220753 11.07.2013

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