Wolford AG — Earnings Release 2002

Sep 17, 2002

News Details

Ad-hoc | 17 September 2002 08:30

Wolford AG english

Wolford AG: Earnings in Q1 2002/03 (01.05. until 31.07.2002) Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Earnings improve in first quarter: Operating profit improved by 10% compared to the first quarter of 2001/02. Operating profit before depreciation and amortisation rose by 11% year-on-year. Thanks to an improvement in net financing expenses, profit on ordinary activities increased by EUR 0.7 million, or 16%. Seasonal cycle: In keeping with the markets’ delivery timelines for the fall/winter collection, about 19% of the annual turnover falls into the first quarter. Compared to the record first quarter of 2001/02, the decline in consolidated turnover in financial Q1 2002/03 was 5%. The Q1 figure of EUR 26.1 million is the second highest for a first quarter in the Group’s history. The restructuring and cost reduction measures taken are bearing fruit. They will continue until the cost control target is reached. Staff: As of 31 July 2002 the workforce amounted to 1.617 employees on a full-time equivalents basis. That is 242 positions less than one year earlier. Net liquidity also showed a year-on- year improvement, which amounted to EUR 2.9 million, or 5.2%. Wolford Lady Share: On 3 September 2002 the Annual General Meeting unanimously approved the Managing Board’s approval not to pay a dividend for the 2001/02 financial year. Profit figures (EUR million) Q1 2002/03 / Q1 2001/02: Turnover 26.096 / 27.593 (-5%), EBIT -3.159 / -3.529 (+10%), EBITDA -1.181 / -1.331 (+11%), EBT -3.677 / -4.376 (+16%), exployees (FTE) 1.617 / 1.859 (-13%), capital investment 1.000 / 2.903. Financial calendar: 6 November 2002 turnover H1 2002/03, 11 December 2002 earnings H1 2002/03. www.wolford.com, shareholder hotlines: investor@wolford.com, phone 0043.5574.690.1250/1213, fax 0043.5574.690.1410/1219 end of ad-hoc-announcement (c)DGAP 17.09.2002 ——————————————————————————– WKN: 083400; ISIN: AT0000834007; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 170830 Sep 02