Douglas AG

M&A Activity • Jan 28, 2021

News Details

Ad-hoc | 28 January 2021 08:56

Douglas GmbH: Douglas reduces its store network by around 500 stores; ongoing EBITDA contribution of around 120 million euros and net one-off cash charge of 94 million euros expected

Douglas GmbH / Key word(s): Strategic Company Decision

Douglas GmbH: Douglas reduces its store network by around 500 stores; ongoing EBITDA contribution of around 120 million euros and net one-off cash charge of 94 million euros expected

28-Jan-2021 / 08:56 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

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

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Douglas has completed the analysis of its Europe-wide store network, which was initiated in the summer of 2020, and has decided on adjustments with the approval of the Supervisory Board and shareholders. Around 500 of the approximately 2,400 shops across Europe are to be closed by the end of September 2022, mainly in Southern Europe. With the adjustments to the store network a leaner organisational structure will be implemented. As a result, Douglas expects an annual EBITDA contribution of around 120 million euros. This comes with an estimated one-off cash charge of 94 million euros net in the financial years 2020/21 and 2021/22.

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Language:	English
Company:	Douglas GmbH
	Luise-Rainer-Str. 7-11
	40235 Düsseldorf
	Germany
ISIN:	XS1251078009, XS1251077373
WKN:	A161MW, A161W3
Listed:	Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; Dublin
EQS News ID:	1163928

End of Announcement	DGAP News Service