Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Nov 3, 2004

News Details

Corporate | 3 November 2004 13:55

LUDWIG BECK AG: Positive sales trend continues

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– LUDWIG BECK AG: Positive sales trend continues – Sales up by 10.9% in the 3rd quarter Munich, November 3th 2004. The LUDWIG BECK Group (ISIN DE 0005199905) increased its sales in the 3rd quarter of 2004 by 10.9 percent in year-on-year comparison and, at EUR0.2 (-0.4) million, its operating result before interest and tax (EBIT) in the period July-September was up by EUR0.6 million on last year’s figure. This means that the Group has succeeded in increasing its turnover significantly in the first nine months of 2004 in comparison with the same period last year. Gross sales at Group level rose by EUR5.6 million to EUR67.9 million as against last year’s figure of EUR62.3 million, giving LUDWIG BECK sales growth of around the 9.0% mark. On sales area adjusted basis too, turnover rose by rose by 1.8%. By continuing this positive trend, LUDWIG BECK is successfully bucking the trend in the textile sector. Indeed, the German textile trade saw sales drop by an average rate of -4% (according to German trade journal “TextilWirtschaft”) n the course of the first nine months of 2004. The positive sales trend has meant that in the first nine months of 2004 the Group increased its gross turnover less VAT and material costs by 11.2% from EUR24.2 million to EUR26.9 million. The cost-income ration improved by 0.8 percentage points from 45.1% to 45.9%, and LUDWIG BECK increased its EBIT figure by EUR0.4 million to EUR-0.7 million as against the previous figure of EUR-1.1 million. Due to the mechanisms in the sector, the results achieved by retail businesses in the first three quarters of a year are negative. Even though the last quarter of 2004 is unlikely to see any remarkable trend reversal in terms of consumer behaviour, LUDWIG BECK is placing its trust in its own continuingly positive corporate trend and successful business over the Christmas period. The synergy effect of high product quality, even further improved service and high emotional added value is ensuring LUDWIG BECK’s success in reaching its customers and retaining their loyalty. The Advent season will see the “Weihnachtshaus” Christmas market – which has in the meantime become known well beyond Munich’s city boundaries – making for high footfall figures and positive customer resonance. A markedly increased operating result remains the primary objective for the current fiscal year. In conjunction with healthy sales business, the package of measures already initiated in the 2nd quarter – and aimed at raising revenues and cutting costs in the order of a total EUR 1 million – is expected to raise the level of earnings considerably. The detailed 9-Month Report will be appearing in printed form on 10 November 2004, and is being published in parallel on the Internet at http://www.ludwigbeck.de . Contact: Jens Schott (Investor Relations) Tel. +49 89 23691-798, Fax +49 89 23691-600 Barbara Gruber (Press Relations) Tel. +49 89 23691-669, Fax +49 89 23691-606 Key figures at 30 Sep. 2004 2004 2003 Change Gross turnover 67,9 62,3 + 5,6 VAT and material costs 26,9 24,2 + 2,7 EBITDA 2,1 1,6 + 0,5 EBIT – 0,7 – 1,1 + 0,4 Workforce 581 544 + 37 end of message, (c)DGAP 03.11.2004 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg und Stuttgart 031355 Nov 04