Ahlers AG

Earnings Release • Jul 13, 2011

News Details

Corporate | 13 July 2011 12:00

Ahlers AG: Ahlers reports 7.5 percent sales growth and 67 percent increase in earnings for H1 2010/2011 and presents optimistic forecast for second half

Ahlers AG / Key word(s): Half Year Results/Forecast

13.07.2011 / 12:00

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July 13, 2011

PRESS RELEASE

Ahlers reports 7.5 percent sales growth and 67 percent increase in earnings for H1 2010/2011 and presents optimistic forecast for second half

The Ahlers Group accelerated its growth in the second quarter of fiscal 2010/2011 and increased its revenues from continued activities by 12 percent. Sales revenues for the six-month period rose by 7.5 percent to EUR 122 million (previous year: EUR 113 million; EUR 119 million including Jupiter Shirts).

The positive sales trend is attributable to strong growth in the Premium and Jeans & Workwear segments, which boosted their revenues by 10 percent each. Every brand in these segments achieved significant growth, led by Baldessarini, Pierre Cardin, Otto Kern and Pionier Workwear.

The Group's net income after taxes increased by an impressive 67 percent. In the first half of the year, Ahlers generated EUR 4.0 million, up EUR 1.6 million on the previous year. This was primarily attributable to an 11 percent increase in the operating result (EBIT before special effects) and the non-recurrence of special effects which had weighed on the result in the previous year. With the equity ratio unchanged at 60 percent, the balance sheet remained sound.

The Management Board is optimistic about the fiscal year 2010/11. Incoming orders for the autumn/winter 2011 season are up by a double-digit percentage on the previous year. This suggests that growth will accelerate in the second half of the year and that full-year sales revenues will rise sharply. Ahlers also projects a marked increase in consolidated net income after taxes.

The expansion of the Retail activities continues according to plan. In the first half of the year, Ahlers achieved 12 percent growth in this segment, which now contributes 9.1 percent to total sales revenues (previous year: 8.3 percent). Another four stores were opened in the first six months of the fiscal year, e.g. in Munich and Switzerland. Ahlers now operates 31 own stores. The company also continues to expand its Internet activities. Following the example of Gin Tonic, Baldessarini and Otto Kern plan to open their own Internet stores in the second half of 2011. The number of retail spaces, Ahlers has by textile retailers, is growing as well. The company plans to increase their number by approx. 8 percent by the end of the fiscal year.

Summary of Ahlers Group figures:

in EUR millions	H1 2010/11	H1 2009/10	Change in %
Sales revenues – continued operations	121.5	113.0	7.5
– incl. Jupiter Shirts	122.0	118.8	2.7
EBIT before special effects	5.8	5.2	11.5
EBIT margin (in %)	4.8	4.4
Net income before taxes	5.7	3.9	46.2
after taxes	4.0	2.4	66.7
Cash flow from operating activities	-3.7	4.0	n.a.
Employees (May 31)	2,289	2,179	5.0
Equity ratio (in %)	60.3	61.3

End of Corporate News

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Language:	English
Company:	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 Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Stuttgart

End of News	DGAP News-Service

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131863  13.07.2011