EQS-News

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK with positive development in the 2022 fiscal year

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Annual Results Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK with positive development in the 2022 fiscal year 29.03.2023 / 13:15 CET/CEST The issuer is solely responsible for the content of this announcement. LUDWIG BECK with positive development in the 2022 fiscal year

 

Munich, March 29, 2023 – Munich-based fashion group LUDWIG BECK (ISIN DE 0005199905) started the fiscal year 2022 without a lockdown, but consumer sentiment was far from normal at the beginning of the year. The onset of the war in Ukraine in February and resulting price increases, especially in the energy sector, uncertainties on the stock markets, rising key interest rates, and a rising inflation rate harmed consumer sentiment and thus initially on the sales at LUDWIG BECK.

However, despite all adverse conditions, LUDWIG BECK noticed a positive trend as of the beginning of summer. The new costume department, which was opened in March 2022, made a pleasing contribution here. After two years of coronavirus break, Oktoberfest finally took place again. Sales in the traditional costume department were far above the pre-pandemic level of 2019.

Restrained consumer sentiment again clearly marked the last quarter. Christmas business was pleasing, although it was not comparable to normal pre-pandemic level business.
 

Sales development

Sales also developed in accordance with general conditions. LUDWIG BECK (including online) generated gross sales of € 83.8m (previous year: € 66.0m). The "textile" segment contributed sales of € 60.8m (previous year: € 44.4m), the "non-textile" segment, which also includes online sales with Beauty, contributed € 23.0m (previous year: € 21.5m) to this development.

Earnings situation

In line with the development of sales, gross profit increased from € 25.4m to € 35.0m. Due to lower price discounts and lower markdowns, the gross profit margin rose significantly from 45.8% to 49.8%.

In the previous year, special factors totalling € 8.7m had a significantly positive impact on the key earnings figures. For this reason, earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from € 13.0m to € 11.3m despite the increase in gross profit.