Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Feb 27, 2003

News Details

Ad-hoc | 27 February 2003 20:16

Ludwig Beck am Rathauseck english

Consumer reticence affecting sales and profits at Ludwig Beck Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Consumer reticence and unfavorable economic conditions are also affecting sales and profits at LUDWIG BECK Munich, February 27, 2003. In this, the worst year of crisis for the retail trade in Germany, LUDWIG BECK AG (WKN 519 990) has also been faced with a decline in sales. Gross turnover for the group in the 2002 business year fell by 3 % to 95.1 (previous year 98.0) million EUR. The group sales include the sales achieved by Ludwig Beck Vertriebs GmbH, which commenced trading at the end of February 2002 and posted sales of 4.6 (previous year 0.0) million EUR. Cost reduction measures were taken in the first half of the year in response to the failure of the economy to pick up. Nevertheless, provisional results from ordinary business activity of the joint stock company dipped to -1.9 (previous year 3.7) million EUR. The operating profit EBIT was slightly positive at 0.3 (previous year 5.4) million EUR. The group’s resulting for the year came to 0.4 (previous year 3.8) million EUR. The group result EBIT was 2.4 (previous year 5.2) million EUR. The group result also includes that of Ludwig Beck Beteiligungs GmbH, which holds a majority stake in the company that owns the Marienplatz building. The equity level remains high, with the figure for the group running at 38 % (previous year 41.6 %). The year-end closing for the 2002 business year will be established in the Supervisory Board meeting on March 20, 2003; detailed figures will be published to coincide with the press conference to announce the financial statements on April 8, 2003. Contact: Lothar Fiss (Media and Investor Relations) Phone +49(0)89 23691-663, Fax +49(0)8923691-600 end of ad-hoc-announcement (c)DGAP 27.02.2003 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: SDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Bremen, Düsseldorf, Hamburg und Stuttgart 272016 Feb 03