Wolford AG — Earnings Release 2001

Sep 17, 2001

News Details

Ad-hoc | 17 September 2001 09:00

Wolford AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Press release from the Managing Board of Wolford AG on earnings for the first quarter of the financial year 2001/2002 (1.5.2001 – 31.7.2001). Earnings improvement: EBIT up 14 %, EBITDA up 35 %. Wolford key figures: Wolford’s world- wide business traditionally follows a seasonal cycle. The first quarter typically accounts for about 17 % of full-year turnover. Turnover: first quarter 2001/2002: EUR 27.6 million. Group turnover up 12 %. Brand turnover up 11 %. Positive development in the European core markets. Italy up 33 %, Switzerland up 21 %, Scandinavia up 21%, Netherlands up 11 %, Germany up 11 %, France up 9 %. Dynamic growth in new luxury markets: Far East up 21%, USA up 17 %. Distribution: Wolford boutiques and Wolford’s own retail outlets are engines of turnover growth. Wolford boutiques: Turnover up 13 %, Wolford-owned boutiques: Turnover up 19 %. Earning figures: The improvement in turnover and profits predicted for the first quarter of 2001/02 was achieved. The first-quarter operating result (EBIT) improved by 14 % compared to the previous year’s first quarter, to EUR minus 3.5 million. Gross cash flow (EBITDA) climbed in the first quarter by 35 % year-on-year to EUR minus 1.3 million. Profit before income tax (EBT) rose slightly by 2 % on twelve months earlier, to EUR -4.4 million. Capital investment: Major expansion project completed. Total capital expenditure in the first quarter of 2001/02 was EUR 2.9 million. Staff: As of the end of July 2001 the workforce had grown by 31 people to 1,990 employees. Wolford Lady Share: on 3 September 2001 the Annual General Meeting approved the Board’s proposal not to issue a dividend for the 2000/01 financial year. Profit figures for first quarter 2001/02 vs. Q1 2000/01: in thousands of euros: Q1 2001/02 Turnover 27,593, EBITDA (Gross cash flow) minus 1,331, EBIT (Operating result) minus 3,529, EBT (Pre-tax profit) minus 4,376, Capital investment 2,903. Q1 2000/01: Turnover 24,745, EBITDA (Gross cash flow) minus 2,059, EBIT (Operating result) minus 4,092, EBT (Pre-tax profit) minus 4,480, Capital investment 4,038. Change yoy: Turnover 12 %, EBITDA (Gross cash flow) 35 %, EBIT (Operating result) 14 %, EBT (Pre-tax profit) 2 %, Capital investment minus 28 %. Financial calendar: 6 November 2001 turnover figures for first half of 2001/02. 11 December 2001 earning figures for first half of 2001/02. end of ad-hoc-announcement (c)DGAP 17.09.2001 ——————————————————————————– WKN: 083400; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 170900 Sep 01