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Wolford Aktiengesellschaft / Mid Year Financial Report - Seite 2

since the beginning of production in March 2020. As a new accessoire, the
different styles of the Wolford Care Mask have become a must-have of the Wolford
product range.

Overall, our restructuring program, PITBOLI (Program for Immediate Top and
Bottom Line Impact), is systematically delivering its intended effects on
revenue and efficiency. Therefore, the structural costs (personnel and
operational costs) were reduced by EUR7 million (12 percent) in the prior-year
period, well above target.

Going forward, the company will focus on consistently pursuing this course. As
part of it, the lines "The W" and "W lab" were successfully added to the brand
architecture, which became part of the new face of the Wolford brand. Indeed the
collaboration with adidas has significantly exceeded expectations, as well as
the launch of "The W" on the online platform Farfetch. Furthermore, a relaunch
of the Essential Collection has started, which will be implemented in the
upcoming months with targeted campaigns. With the Aurora Monogram line, which is
part of the "The W" collection, Wolford is further implementing its commitment
to sustainability. All new Aurora Styles are Cradle to Cradle Gold Certified TM.
With the goal of being the first environmentally neutral brand in the fashion
industry, Wolford is leading the way for change.

Business with e-tailers and marketplaces are also growing at double-digits
rates, expected to grow as well in the following year 2021. Wolford is expecting
further positive sales effects from the partnership with a new distributor in
Japan, as well as from the planned expansion of the omnichannel architecture.

Outlook

Despite strong half-year results, Wolford has been clearly feeling the effects
of the second wave of lockdown measures since the end of October, which have hit
retail during what is traditionally the strongest quarter, the holiday season.
The effects are expected to be felt well into the coming year. Nevertheless,
from today's perspective, Wolford still expects to be able to reach break even
in the coming year, assuming that our expectations regarding the development of
the Covid-19 pandemic remain valid. In this context, the management board has
implemented additional measures to secure liquidity on a sustainable basis.

The reported half-year results show that Wolford is on course for a successful
restructuring. Decisive is now, to ensure a stable sales development despite the
Covid-19 pandemic, to consistently continue PITBOLI and the use of the offered
governmental support services.



Further inquiry note:
Wolford AG
Madeleine Dubois
Tel: [phone]
[e-mail] / company.wolford.com

end of announcement euro adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: [phone]
FAX: [phone]
mail: [e-mail]
WWW: http://company.wolford.com
ISIN: AT0000834007
indexes: ATX GP
stockmarkets: Wien, New York, Frankfurt
language: English

Additional content: http://presseportal.de/pm/112754/4798184
OTS: Wolford Aktiengesellschaft