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Wolford Aktiengesellschaft / Mid Year Financial Report

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Strong first half year despite Covid-19: sales stabilized, earnings increased by
6 % compared to previous year, break-even 2021 within reach!

Mid Year Financial Report

Bregenz - December 23, 2020: The first six months of the new short fiscal year
2020 of the Wolford AG, listed on Vienna Stock Exchange, were strongly marked by
the impacts of the first Covid-19-related lockdown. Although stores in the EMEA
region and the USA were open again as of late April/early May (in China already
end of February), customer frequency and buying behavior did not normalize
during the reporting period by any means. Despite this, Wolford generated sales
of EUR48.17 million, in the first six months of the current fiscal year 2020
(May 2020 to December 2020), registering a drop in revenue of about 20 percent
compared to the prior-year figure of EUR60.49 million. The drop in sales of
EUR12 million compared to the same period of the previous year was lower than
planned.

Despite the decline in sales revenues, at EUR-11.28 million the previous year's
earnings before taxes (EBT) of EUR-12.03 million were exceeded by EUR1 million.
The effects of the sale of the real estate were not taken into account (EBT
incl. effects from the sale of real estate EUR30.00 million). The revenue of
EUR72 million related to the selling of Wolfordstraße 1-3 in Bregenz was used,
to fully repay the debts at the beginning of May.

Online grows by over 50%, over 630,000 Wolford Care Masks sold, cost reduction
of over 12% Success of online retail, Wolford Care Mask and the restructuring
program

Main growth driver in the reporting period was Wolford's online business with a
54 percent increase over the previous year. The revenue share of the company's
own online business and the associated online business of its wholesale partners
increased to a total of around 25 percent. The company's own retail and
wholesale business also contributed to achieve sales. Both, the Spring Summer
2020 as well as the Fall Winter 2020/21 collections, were very well received in
all channels despite the current situation. To date, a revenue of EUR9 million
has been generated through the sale of approximately 630,000 Wolford Care Masks