Douglas AG

Interest Rate Update/Notice • Oct 16, 2023

News Details

Corporate | 16 October 2023 07:30

Douglas GmbH: DOUGLAS will pay interest on PIK notes in cash

EQS-News: Douglas GmbH / Key word(s): Bond

Douglas GmbH: DOUGLAS will pay interest on PIK notes in cash

16.10.2023 / 07:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

IR NEWS

Cash payment of interest on Kirk Beauty SUN notes on the back of strong cash generation

DOUGLAS will pay interest on PIK notes in cash

• Interest payment on Kirk Beauty SUN notes will be paid in cash for the first time since the successful refinancing in 2021
• Cash coupon of 8.25% paid instead of PIK coupon of 9.00%
• Robust liquidity level allows for change in payment pattern
• Mark Langer, CFO of DOUGLAS Group: “DOUGLAS has always stated that interest on the Kirk Beauty SUN notes will be PIK’ed until our liquidity buffer and projections give us confidence that we can pay cash interest.”
• Full year figures for 2022/23 (October 2022 – September 2023) will be published on 20 December 2023

Düsseldorf, 16 October 2023 – DOUGLAS, Europe’s leading omnichannel beauty destination, will start to pay cash interest on its Kirk Beauty SUN notes starting with the payment date 16 October 2023. This shift has two positive effects for DOUGLAS: first, the gross debt will not increase any further which supports DOUGLAS on its deleveraging path. Second, the cash interest rate is at 8.25% and thereby 75 basis points lower than PIK interest rate which represents interest cost savings of more than 4 million Euro per year in addition to the ceasing compound effect from PIK interest.

“Our third quarter results already showed the strong cash generation of DOUGLAS even in a still challenging economic environment”, said Mark Langer. “With this switch to cash interest payment we underline our ambition to deleverage DOUGLAS not only by growing our EBITDA, but also by keeping the gross debt stable.”

The cash interest was paid today, the next payment date is 15 April 2024.

ABOUT DOUGLAS

DOUGLAS is Europe’s leading omnichannel beauty destination. We inspire customers to live their own kind of beauty by offering a unique assortment in online stores, via a partner program and in around 1,840 stores. Strengthening our successful omnichannel positioning while consistently developing the customer experience is at the heart of our strategy. In its fiscal year 2021/22, DOUGLAS generated sales of 3.65 billion euros with a focus on fragrances, make-up, skin care, hair care, health care and accessories.

INVESTOR RELATIONS CONTACT

Stefanie Steiner

Head of Investor Relations and M&A

Phone: +49 (0)211 16847 8594

E-mail: ir@douglas.de

---

16.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

---

Language:	English
Company:	Douglas GmbH
	Luise-Rainer-Str. 7-11
	40235 Düsseldorf
	Germany
ISIN:	XS2326497802
WKN:	A3H3J7
Listed:	Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; Dublin
EQS News ID:	1749089

End of News	EQS News Service