Ahlers AG

Earnings Release • Jan 28, 2009

News Details

Ad-hoc | 28 January 2009 11:27

Ahlers AG: Consolidated net profit 2007/08 remains below expectations at EUR 0.3 million; sales up 3.2 percent on the previous year; cost-cutting programme proceeding according to plan

Ahlers AG / Preliminary Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc release to § 15 WpHG

Ahlers AG, Herford

ISIN DE0005009708 and ISIN DE0005009732

Consolidated net profit 2007/08 remains below expectations at EUR 0.3
million; sales up 3.2 percent on the previous year; cost-cutting programme
proceeding according to plan

In the fiscal year 2007/08, menswear manufacturer Ahlers generated EUR
268.1 million in sales, which represented a 3.2 percent increase over the
previous year’s EUR 259.9 million. According to preliminary figures,
consolidated net profit after taxes remained below management’s
expectations at EUR 0.3 million (previous year: EUR 9.7 million), which was
primarily attributable to the lower sales generated in the fourth quarter
(-7 percent). Towards the end of the year, the result was also adversely
affected by the sudden and strong devaluation of the Polish zloty, which
led to a less advantageous currency difference of EUR 1.8 million from the
euro-based funding of the Polish subsidiaries.

As announced in October, Ahlers has launched a comprehensive cost-cutting
programme, which will entail savings in a high single-digit million amount
already in the current fiscal year 2008/09. The programme is proceeding
according to plan. All necessary social plans were agreed and the
respective notices of termination given last year. At EUR 4.4 million the
resulting non-recurrent expenses were in line with expectations and the
respective provisions were recognised in the financial statements for
2007/08.

The operating result before non-recurrent, off-period and exchange rate
effects amounted to EUR 7.8 million, down 20 percent on the previous year.

As of the end of the year, the Ahlers Group had positive cash and cash
equivalents and an equity ratio of a good 50 percent. In view of the
positive financial situation, it should be possible to pay out a
satisfactory dividend.

Herford, January 28, 2009

The Managing Board

Ahlers AG

Elverdisser Str. 313

32052 Herford
28.01.2009 Financial News transmitted by DGAP

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Language: English
Issuer: Ahlers AG
Elverdisser Straße 313
32052 Herford
Deutschland
Phone: +49 (0)5221 979-0
Fax: +49 (0)5221 70058
E-mail: ahlers-ag@ahlers-ag.com
Internet: www.ahlers-ag.com
ISIN: DE0005009708, DE0005009732
WKN: 500970, 500973
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Stuttgart, Hamburg

End of News DGAP News-Service

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