DGAP-News

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends 1st quarter with 2.4% gain in sales

DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key
word(s): Quarter Results/Development of Sales
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK ends
1st quarter with 2.4% gain in sales

23.04.2014 / 08:00

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Corporate News

LUDWIG BECK ends 1st quarter with 2.4% gain in sales

Munich, April 23, 2014 - Munich Fashion Group LUDWIG BECK (ISIN DE
0005199905) ends the 1st quarter of the 2014 fiscal year with an increase
in sales. Consideration deserves the fact that this year's revenue effect
of Easter business will be delayed into the 2nd quarter.

Development of sales
In the 1st three months of the 2014 fiscal year, LUDWIG BECK generated
gross sales of EUR 21.8m on Group level (previous year: EUR 21.3m),
corresponding a 2.4% increase. The main reasons are consumer-friendly
weather conditions and an undampened shopping mood among consumers.
According to TextilWirtschaft(TW), the fashion retail sector also generated
a 3% gain in the same period. The flagship store at Munich Marienplatz,
again, contributed the biggest portion to sales. Likewise, the development
underlined the great popularity of the relatively young online store. Thus,
the 1st quarter, usually the one generating the lowest sales, fulfilled
management's expectations even without the effect of Easter sales.

Earnings situation
Gross profits showed a neutral development, amounting to EUR 8.8m, similar
to the previous year, due to one-time positive special items adding to last
year's 1st quarter. The gross profit margin reached 48.0% (previous year:
49.0%).

With EUR 8.3m, the absolute amount of expenses netted against corresponding
income was higher than in the previous year with EUR 7.8m. Mainly
responsible were a 6.5% pay raise for the company's employees effective in
the 2nd quarter of 2013 and higher distribution costs in connection with
the online store.

The operating result (EBIT) reached EUR 0.5m (previous year: EUR 1.0m). The
EBIT margin was at 2.5% (previous year: 5.4%).

Earnings before taxes (EBT) reached EUR 0.2m (previous year: EUR 0.6m).

Net profit for the period amounted to EUR 0.2m compared to last year's EUR
0.4m.

Outlook
For the remainder of the business year, the Group continues to rely on the
implementation of its successful Trading Up strategy. The Executive Board
trusts the dynamic of its own economic strength in connection with
favorable political, economic and weather conditions. The grand re-opening