Wolford AG — Earnings Release 2001

Jul 12, 2001

News Details

Ad-hoc | 12 July 2001 13:01

Wolford AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– News release from the Managing Board of Wolford Aktiengesellschaft on the results of the financial year 2000/01 (1 May 2000 – 30 April 2001). Turnover: Consolidated group turnover increased by 2 % of TEUR 143,875. 3 % increase in turnover in branded business. The surge of innovation required to maintain the market-leading position and to counteract the negative industry environment (38 % more new products than in the previous year) led to delivery bottlenecks in core products because of Wolford’s firm commitment to maintaining high quality. Market developments: Lasting boom in Wolford’s new luxury markets. Recovery in the reorganised European core markets. Decline in the principal markets of Austria, Germany and Italy. Distribution: 261 Wolford boutiques demonstrate high momentum of turnover, which grew by 19 %. Their share of total turnover increased from 32 % to 36 %. The number of Wolford owned boutiques increased from 48 to 55. In total, turnover at all Wolford retail units climbed by 29 %;their share of group turnover rose from 20 % to 25 %. Department stores: 3 % increase in turnover. Product development: Wolford scored with creative trend- setting products. Legwear remained the largest sales driver with 48 % of brand turnover. Bodywear turnover was boosted from 34 % to 38 % of the brand total. The contribution from bodyCULTURE remained stable at 11 %. Wolford turnaround: In order to ensure optimum use of the recourses created, all activities are integrated and co-ordinated by means of the balanced score card management system. The creative and technical teams were strengthened by adding 40 individuals. Some product lines are being manufactured by external specialist companies. Earnings: the full value of the future-oriented assets created cannot unfold in the short term. These assets will ensure Wolford’s competitive edge in the medium to long term. Earnings: the full value of the future-oriented assets created cannot unfold in the short term. Earnings figures in TEUR: Operating profit 2,948 (down 52.97 %), profit before income tax (EBT) 187 (down 96.98 %), net profit for the year 680 (down 84.66 %), cash flow from operating activities 4,843 (down 51.06 %). Dividend: The Managing Board’s position in its recommendation to the AGM on 3 September, 2001 will be no distribution of a dividend for the 2000/01 financial year. end of ad hoc announcement (c) DGAP 12.07.2001 ——————————————————————————– WKN: 083400; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 121301 Jul 01