Wolford AG — Earnings Release 2002

Mar 13, 2002

News Details

Ad-hoc | 13 March 2002 08:59

Wolford AG english

Wolford AG press release Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Wolford improved profitability in the third quarter of financial year 2001/02 (1.5.2001 – 30.1.2002) as a result of efficient cost management. EUR 2.5 mn EBIT totally eliminates the loss shown in the first half 01/02. EBITDA went up EUR 4.8 mn in Q3 01/02 over the first half 01/02. As a share of total output, personnel expenses fell from 51% in the first half of 01/02 to 46.8 % in Q3 01/ 02. Reduction in personnel expenses was EUR 1.5 mn, and workforce has dropped since 31.1.2001 by 110 to 1937 at 31.1.2002. Depreciation rose by EUR 0.9 mn over the three quarters 01 /02 as a result of the investment activities over the last years. Other operating expenses dropped by 5 % or EUR 1.3 mn Q3 00/01 on Q3 01/02. Financial result was affected by a lack of income from securities, and increased by EUR 0.7 mn to EUR -2.8 mn for the period Q1- Q3 01/ 02. In Q3 01/ 02 EBT showed an EUR 2.4 mn improvement over the first half 01/ 02. Cash flow from earnings totalled EUR 4.1 mn, and increased EUR 3.3 mn in Q3 01/02 over the first half 01/02. Net debt in Q3 01/02 fell by EUR 6.5 mn compared to the first half 01/02. As at 31.1.2002 shareholder’s equity totalled 62.9 mn. Equity ratio was 37.5 %. Outlook for Q4 01/02: consolidation will continue due to the targeted further improvement in profitability. Sell-out rates of the spring/summer 2002 collection on all markets are encouraging. In February 2002 Wolford America sales went up 20 %, and prompt order volumes achieved double- digit growth, a trend set in Q3 01/02. In Q4 2001/02 Wolford is to open 6 new boutiques with retail partners, mainly in Eastern Europe. end of ad-hoc-announcement (c)DGAP 13.03.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: IAS figures first half 2001/02 in TEUR : P & L highlights : Turnover 66.672; EBITDA 1.966; EBIT -2.543; EBIT margin in % -3.70; Financial result -2.646; EBT -5.189; Balance sheet highlights: Total assets 176.582; Non-current assets 86.361; Shareholders’ equity 62.264; Equity in % of total assets 35.24. Cash flow and capex: Cash earnings 735; Net debt 57.841; Capital expenditure 5.680. Staff numbers: Total individuals 2.010. IAS figures Q1-Q3 2001/02 in TEUR: P & L highlights : Turnover 105.854; EBITDA 6.777; EBIT 2; EBIT margin in % 0; Financial result -2.798; EBT -2.796; Balance sheet highlights: Total assets 167.479; Non-current assets 86.177; Shareholders’ equity 62.864; Equity in % of total assets 37.5. Cash flow and capex: Cash earnings 4.057; Net debt 51.340; Capital expenditure 7.579; Staff numbers: Total individuals 1.937. IAS figures Q1-Q3 2000/01in TEUR: P & L highlights : Turnover 110.900; EBITDA 9.803; EBIT 3.882; EBIT margin in % 3.4; Financial result -2.085; EBT 1.797; Balance sheet highlights: Total assets 194.177; Non-current assets 82.759; Shareholders’ equity 63.955; Equity in % of total assets 32.9. Cash flow and capex: Cash earnings 7.430; Net debt 42.134; Capital expenditure 9.161. Staff numbers: Total individuals 2.047. Financial calendar: 07.05.2002 Turnover financial year 2001/02 16.7.2002 Press conference on financial year 2001/02 03.09.2002 Annual General Meeting in Bregenz ——————————————————————————– WKN: 083400; ISIN: AT0000834007; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 130859 Mär 02