Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG

Earnings Release • Mar 9, 2010

News Details

Corporate | 9 March 2010 15:30

LUDWIG BECK presents consolidated financial statements for 2009 and reports record result

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Final Results/Dividend

09.03.2010 15:30

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Munich, March 9, 2010 - The Munich fashion house LUDWIG BECK (ISIN DE
0005199905) concluded the fiscal year 2009 with branch-adjusted sales up
1.8 %. As earnings before taxes (EBIT) improved 43.5 %, LUDWIG BECK
generated the best result ever achieved in the company's history.

Development of sales

In comparison with last year, branch-adjusted gross sales went up EUR 1.8m
to EUR 103.7m (previous year: EUR 101.9m). This corresponds to a 1.8 %
increase. Branch-unadjusted sales grew EUR 1.1m and also reached EUR 103.7m
(previous year: EUR 102.6m). This means that the Munich fashion house was
once again able to distinguish itself positively from the trend generally
prevailing in textile retail trade, which concluded the fiscal year 2009 on
a par according to TextilWirtschaft. Net sales amounted to EUR 87.2m
(previous year: EUR 86.2m).

Earnings situation

Earnings before interest, taxes and depreciation (EBITDA) climbed 9.0 %
from EUR 12.2m in the previous year to EUR 13.3m in 2009. The EBITDA margin
relating to net sales was 15.3 % (previous year: 14.2 %).

The operative result (EBIT) went up 20.1 % to EUR 9.8m in comparison to EUR
8.1m in the year 2008.

Earnings before taxes (EBT) soared 43.5 % in the fiscal year 2009 and
amounted to EUR 6.4m (previous year: EUR 4.4m).

Only because of the special tax situation and the resulting negative effect
on taxes in the amount of EUR 1.7m the consolidated net profit fell short
of last year's level (EUR 2.7m) and came to EUR 2.2m. Earnings per share
were EUR 0.61 (previous year: EUR 0.73) in the fiscal year 2009.

Dividend payment

Executive Board and Supervisory Board of LUDWIG BECK AG are committed to
dividend consistency and a success-oriented distribution policy even in a
challenging environment. On the basis of the gratifying consolidated income
generated in the fiscal year 2009, the Executive Board and the Supervisory
Board of LUDWIG BECK AG intend to propose to the General Meeting on May 11,
2010 to distribute a dividend of EUR 0.35 per no-par share entitled to
dividend. This 5 cent increase in comparison to the previous year (EUR
0.30) corresponds to a rise of approximately 17 %. Hence, LUDWIG BECKS AG
shares its business success with its shareholders in a sustained,
significant manner.

Outlook

Even though the general economic scenario seems to brighten up gradually,
cautious optimism is still dampened by incalculable setbacks. In this
economic situation LUDWIG BECK further relies on the company's own economic
performance which proved to be fast-growing even in times of crisis. On the
basis of its 'trading up' strategy as consistently pursued at the flagship
store at Munich's Marienplatz as well as its stringent cost optimization
approach the Executive Board of LUDWIG BECK AG set itself the goal to tap
new earning potentials in the current fiscal year.

'Our record result indicates that we took the correct route early enough to
be prepared for successful business even in times of crisis', Dieter Münch,
member of the Executive Board of LUDWIG BECK AG stated. 'In the current
fiscal year we intend to build on the 2009 result, and we expect to
generate earnings before taxes (EBT) exceeding EUR 6.0m', Münch concluded.

Key figures of the group

in EURm 1/1/2009 - 12/31/2009 (1/12008 - 12/31/2008)
Gross sales (including VAT) 103.7 (102.6)
Gross profit1) 43.0 (41.4)
Earnings before interest, taxes and depreciation (EBITDA) 13.3 (12.2)
Operative result (EBIT) 9.8 (8.1)
Earnings before taxes (EBT) 6.4 (4.4)
Consolidated net profit 2.2 (2.7)
Earnings per share (in EUR) 0.61 (0.73)
Investments 2.2 (8.6)
Employees (number)2) 529 (538)
1) Net sales less costs of material used; 2) without
apprentices

Investor Relations contact:
esVedra consulting GmbH
Metis Tarta-Steck
t: +49 89 28 80 81 - 33
f: +49 89 28 80 81 - 49
mts@esvedragroup.com

09.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Marienplatz 11
80331 München
Deutschland
Phone: +49 (0)89 2 36 91-0
Fax: +49 (0)89 2 36 91-600
E-mail: info@ludwigbeck.de
Internet: www.ludwigbeck.de
ISIN: DE0005199905
WKN: 519990
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

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