DGAP-Adhoc

Adler Modemärkte AG: Revenue and income stabilise in Q2 - forecast for full-year 2016 adjusted

Adler Modemärkte AG / Key word(s): Change in Forecast

02.08.2016 18:47

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transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Despite the anticipated positive momentum in May and June, Adler Modemärkte
AG's revenues declined by roughly 4% year on year from EUR 268.4 million to
EUR 257.1 million in the first half of 2016 due to the challenging
environment in the textile retail sector. Revenue decreased by just 1.0% to
EUR 151.8 million in the second quarter. EBITDA declined from EUR 4.5
million to EUR 0.7 million in the first half of the year, although the
figure of EUR 17.3 million in the second quarter nevertheless signalled a
return to roughly the prior-year level. In response, ADLER has already
launched a wide range of measures to increase efficiency. These will result
in substantial cost savings as the year progresses.

In light of its performance in the first half of the year and what
continues to be a challenging market environment, ADLER is adjusting the
forecast for full-year 2016, as given in the 2015 Annual Report. Since the
forecast calls for consolidated revenue to be at no more than the
prior-year level in the second half of 2016, full-year revenue is expected
to fall short of the prior-year figure of approximately EUR 566 million.
The new marketing campaign to be launched in September is expected to boost
operating performance in the fourth quarter. EBITDA should amount to
between EUR 27 million and EUR 30 million. ADLER therefore continues to aim
for significant after-tax earnings and considerable positive free cash flow
in 2016.


02.08.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language: English
Company: Adler Modemärkte AG
Industriestraße Ost 1-7
63808 Haibach
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.adlermode.com
ISIN: DE000A1H8MU2
WKN: A1H8MU
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange

End of Announcement DGAP News-Service

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