DGAP-News

Adler Modemärkte AG: ADLER Bucks Industry Trend, Continues Profitable Growth - Seite 3

subsequent years, EBITDA is expected to increase in relation to revenue.

Strong balance sheet

On the basis of these solid financial figures, ADLER is well-equipped for
the coming expansion. As at 31 December 2014, the equity ratio amounted to
43.3% (31 December 2013: 40.3%). Cash and cash equivalents increased
significantly by EUR15.2 million to EUR69.7 million (31 December 2013:
EUR54.5 million), allowing the Company to seize market opportunities
rapidly and flexibly.

Proposed dividend of EUR0.50

The Executive Board and the Supervisory Board propose that the Annual
General Meeting resolve to distribute a dividend of EUR0.50.

Adler Modemärkte AG's full annual report is now available for inspection or
download from the Company's homepage at
http://www.adlermode-unternehmen.com/en/investor-relations/reports-and-pub
lications/annual-report/.

Consolidated key performance indicators

(EUR million)                                 2014      2013      Change


Revenue                                       535.3     528.6     +1.3%


Adjusted revenue1)                            535.3     524.8     +2.0%


Gross profit                                  292.1     293.7     -0.5%


Adjusted gross profit1)                       292.0     289.9     +0.7%


Earnings before interest, taxes, depreciation 41.5      42.9      -3.3%
and amortisation (EBITDA)


Adjusted EBITDA1)                             41.5      39.1      +6.1%


Earnings before interest and taxes (EBIT)     26.2      28.9      -9.3%


Adjusted EBIT1)                               26.2      25.1      +4.4%


Earnings before taxes (EBT)                   21.2      24.6      -13.8%


Adjusted EBT1)                                21.2      20.8      +1.9%


Earnings per share (in EUR)                   0.772)    1.053)    Not
                                                                 
comparable

1) In 2013, revenue and earnings figures were lifted by EUR3.8 million as a
result of a non-recurring effect. This effect resulted due to the fact that
since 2013, ADLER has been using an improved IT system to analyse and
include redemptions of customer credits during the course of the year when
recognising provisions (reported under financial liabilities).

2) Based on 18,478,344 no-par value shares

3) Based on 17,621,197 no-par value shares

                                        31 Dec. 2014 31 Dec. 2013 Change


Total assets (EUR million)              244.3        228.4        +7.0%