DGAP-News

Leifheit Aktiengesellschaft: Leifheit sees positive development in second quarter - Seite 3

Volume Business down slightly year on year

At EUR 17.7 million, turnover in the first half of 2017 in the substantially smaller Volume Business, which is more volatile due to a higher share of Project Business, was down only slightly on the figure of EUR 18.0 million from the same period of the previous year. Volume Business achieved a share of 14.7% in Group turnover (previous year: 14.9%).

Turnover of Herby laundry care products and in Project Business rose slightly over the past six months. This growth made it possible to largely compensate for an expected drop in turnover in kitchen goods. Turnover in Germany increased significantly. By contrast, falling turnover in France and the US put a damper on turnover development in the first half of the year.

Capital increase from company funds successfully completed

Resolved by the shareholders of Leifheit AG at the Annual General Meeting, the capital increase from company funds at a ratio of 1 to 1 in combination with the issuance of bonus shares was successfully completed with its entry into the commercial register. 20 June 2017 was the first trading day on the stock exchange on the basis of the higher number of Leifheit shares, which was raised from 5 million to 10 million. Doubling the number of shares caused the share price to fall by half day over day on that particular date.

Forecast for full year 2017 confirmed

With a view to the business development to date, and considering all market estimates, opportunities and risks, Leifheit AG continues to expect Group turnover growth of 3.5 to 4.5% in the current financial year. The Group anticipates 4 to 5% growth in turnover in its strategic core business, Brand Business. Leifheit expects turnover growth in Volume Business of 2 to 3%.

The earnings forecast also remains the same. The investments in the restructuring of sales activities in Brand Business in the second quarter led to non-recurring expenses of EUR 2.3 million. Taking into consideration this non-recurring effect, Leifheit continues to expect that earnings before interest and taxes (EBIT) will be on par with the previous year.