Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Jul 8, 2002

News Details

Ad-hoc | 8 July 2002 14:42

Ludwig Beck am Rathauseck english

Ludwig Beck has not achieved the previous year’s sale Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– LUDWIG BECK has not achieved the previous year’s sales – trading so far this year has been characterized by consumers’ enormous reluctance to spend. Munich, July 8, 2002. LUDWIG BECK (WKN 519 990) has not succeeded in matching last year’s figures with its sales during the 1st half of 2002. Gross sales of the Group as at June 30, 2002 reached 41.4 (previous year 43.3) m EUR. German retail sales for the year so far have slumped as never seen before. Media speculation about price rises on the back of the launch of the Euro, continuing economic weakness as well as worries about job security combined to make consumers very reluctant to spend their money during the first half of the year. Short-term sales put on by major trading companies led to a further decline in consumer confidence. Group sales include 1.3 (previous year 0.0) m EUR from Ludwig Beck Vertriebs GmbH in which well-known brands are sold in monolabel stores. ludwigbeck-online GmbH achieved sales of 188 (previous year 175) thousand EUR with its Internet shop and mail-order music sales. In view of the continuing frailty in the economy, LUDWIG BECK is now only predicting that the Group will be able to match its sales level of last year. Also, the known sales profile and continuing poor economic prospects mean that it will not be possible to achieve the previously expected profit levels. Further developments are largely dependent on the performance of the economy during the 2nd half of the year. The half-year’s report for 2002 will be published on August 6, 2002. Contact: Lothar Fiss, Investor Relations and Publicity Tel +49(0)89 23691 663, Fax +49(0)89 23691 600 end of ad-hoc-announcement (c)DGAP 08.07.2002 ——————————————————————————– WKN: 519990; ISIN: DE0005199905; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX) und München; Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 081442 Jul 02