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Powerland AG: Powerland reports revenue growth and publishes audited Annual Report for full year 2014
DGAP-News: Powerland AG / Key word(s): Final Results
Powerland AG: Powerland reports revenue growth and publishes audited
Annual Report for full year 2014
29.05.2015 / 11:35
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Powerland reports revenue growth and publishes audited Annual Report for
full year 2014
- Full year 2014 revenue grew by 4.8% to EUR 175.1 million; EBIT down
13.4% to EUR 10.7 million
- Product mix continues to improve: Luxury segment contributes 68.9% to
Group revenue in full year 2014 (FY 2013: 62.4%)
- Further optimization of distribution network
- Increased equity ratio of 78.5% as at 31 December 2014 (68.2% as at 31
December 2013)
- Conservative outlook for 2015
Frankfurt/Main, 29 May 2015 - Powerland AG (ISIN DE000PLD5558 / Prime
Standard), Powerland AG (ISIN DE000PLD5558 / Prime Standard), the leading
Chinese company of premium handbags, leather goods and accessories, today
presents the Annual Report for the financial year 2014, with an unqualified
audit opinion and adoption by the Supervisory Board.
2014 remained a challenging year for Powerland. Although China is gradually
migrating to a consumption-driven economy, the general economic slow-down
had an adverse impact on the consumer market. In particular, China's luxury
goods market had unprecedentedly contracted by one per cent on a
year-on-year basis. In this difficult environment, Powerland achieved
revenues of EUR 175.1 million in full year 2014, up 4.8% from EUR 167.1
million in 2013. This plus was driven by an increase in sales of products
from the Luxury segment of approximately 15.8%. Over the course of 2014,
Powerland successfully continued its strategy to migrate towards its
high-profit-margin segment: The Luxury segment now contributes 68.9% of
revenues to the Company, in contrast to 62.4% for 2013. In addition, the
Luxury segment proves to be highly profitable: During the fourth quarter
2014, segment EBIT significantly increased from EUR 0.3 million in Q4 2013
to EUR 3.4 million in Q4 2014.
Powerland reports revenue growth and publishes audited Annual Report for
full year 2014
- Full year 2014 revenue grew by 4.8% to EUR 175.1 million; EBIT down
13.4% to EUR 10.7 million
- Product mix continues to improve: Luxury segment contributes 68.9% to
Group revenue in full year 2014 (FY 2013: 62.4%)
- Further optimization of distribution network
- Increased equity ratio of 78.5% as at 31 December 2014 (68.2% as at 31
December 2013)
- Conservative outlook for 2015
Frankfurt/Main, 29 May 2015 - Powerland AG (ISIN DE000PLD5558 / Prime
Standard), Powerland AG (ISIN DE000PLD5558 / Prime Standard), the leading
Chinese company of premium handbags, leather goods and accessories, today
presents the Annual Report for the financial year 2014, with an unqualified
audit opinion and adoption by the Supervisory Board.
2014 remained a challenging year for Powerland. Although China is gradually
migrating to a consumption-driven economy, the general economic slow-down
had an adverse impact on the consumer market. In particular, China's luxury
goods market had unprecedentedly contracted by one per cent on a
year-on-year basis. In this difficult environment, Powerland achieved
revenues of EUR 175.1 million in full year 2014, up 4.8% from EUR 167.1
million in 2013. This plus was driven by an increase in sales of products
from the Luxury segment of approximately 15.8%. Over the course of 2014,
Powerland successfully continued its strategy to migrate towards its
high-profit-margin segment: The Luxury segment now contributes 68.9% of
revenues to the Company, in contrast to 62.4% for 2013. In addition, the
Luxury segment proves to be highly profitable: During the fourth quarter
2014, segment EBIT significantly increased from EUR 0.3 million in Q4 2013
to EUR 3.4 million in Q4 2014.
in EUR million 2013 2014 Change (%)
Revenue 167.1 175.1 4.8%
Luxury 104.2 120.7 15.8%
Casual 62.9 54.4 -13.5%
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