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Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Earnings Release • Apr 15, 2019
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Earnings Release
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News Details
Ad-hoc | 15 April 2019 17:30
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK AG: Sale of gentleman’s fashion chain WORMLAND and adjustment of forecast for fiscal year 2019
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Disposal/Change in Forecast
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK AG: Sale of gentleman’s fashion chain WORMLAND and adjustment of forecast for fiscal year 2019
15-Apr-2019 / 17:30 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.
AD-HOC NOTIFICATION pursuant to section 17 MAR (Market Abuse Regulation)
**LUDWIG BECK am Rathauseck – Textilhaus Feldmeier AG
– Securities Identification Number 519 990 –**
LUDWIG BECK AG: Sale of gentleman’s fashion chain WORMLAND and adjustment of forecast for fiscal year 2019
Munich, April 15, 2019: The sale process initiated by LUDWIG BECK AG on January 31, 2019 to sell the 100% interest held by LUDWIG BECK Unternehmensverwaltungs GmbH in Theo Wormland GmbH & Co. KG (“WORMLAND”) led to the conclusion of a corresponding purchase agreement today. The buyer is WL Erwerbs GmbH, which is held by a team of WORMLAND managers. The seller will transfer the company free from bank liabilities and making an additional payment of approx. EUR 7.5m on-top. At the same time, the buyer agreed to provide an equity injection of approx. EUR 0.5m.
The sale of WORMLAND changes LUDWIG BECK’s forecast for the 2019 fiscal year. The closing date of the purchase agreement is planned for April 30, 2019, 24:00 hours. For 2019, LUDWIG BECK now expects revenue at Group level between EUR 114m and EUR 119m (previously: between EUR 165m and EUR 170m) and EBT (earnings before taxes) between EUR -12 m and EUR -13m (previously: between EUR 1.5m and EUR 2.5m). On the level of the single-entity financial statements, LUDWIG BECK now expects a net loss for the year 2019 amounting to EUR -10m to EUR -11m. As the 2019 profit available for distribution of LUDWIG BECK AG is therefore now expected to be EUR 0, a dividend for the 2019 fiscal year can no longer be expected.
Ludwig Beck am Rathauseck-Textilhaus Feldmeier Aktiengesellschaft, Marienplatz 11, 80331 Munich
ISIN DE0005199905
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021-210
f: +49 89 206021-610
Group Accounting contact:
LUDWIG BECK AG
Jens Schott
t: +49 89 23691-798
f: +49 89 23691-600
15-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG |
| Marienplatz 11 | |
| 80331 München | |
| Germany | |
| Phone: | +49 (0)89 2 36 91-0 |
| Fax: | +49 (0)89 2 36 91-600 |
| E-mail: | [email protected] |
| Internet: | www.ludwigbeck.de |
| ISIN: | DE0005199905 |
| WKN: | 519990 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 800207 |
| End of Announcement | DGAP News Service |