Wolford AG — Earnings Release 2002

Feb 7, 2002

News Details

Ad-hoc | 7 February 2002 09:00

Wolford AG english

Press Release Wolford AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Press Release Wolford AG Turnover Figures Q3 of FY 2001/2002 (1 May 01 – 31 January 02) Consolidation of global distribution temporarily costs turnover growth: Wolford’s strategy for fiscal 2001/02: earnings improvement before area growth: An analysis of the earnings potential of Wolford’s markets, boutique locations and international subsidiaries has identified a need for consolidation. In the Far East and Austria, e.g., this has led to the closure of less-profitable outlets, resulting in a temporary decline in turnover. Turnover trend: Group turnover -5%, brand turnover -3%. In the first 3 quarters of the present 2001/02 fiscal year, consolidated Group turnover was EUR 105.9 mio (prior year: EUR 110.9 mio). The major markets have reached bottom of trough: I +29%, SCAN +10%, NL +8%, A -23%, USA -4%, F -4%, UK -5%, GER -6%, E -6%, CH -1%. Retail business in USA signals uptrend beginning in Jan/02. The turnover trend at Wolford America has significance for the pattern in other world markets: July 01 +38%, Aug 01 +3%, Sept 01 -16%, Oct 01 -21%, Nov 01 -9%, Dec 01 +2%, Jan 02 +8%. In Jan 02 world-wide orders for prompt delivery for spring/summer 02 season rose by 21%. This is a positive sign of easing buyer reluctance and of an expected rally in retail turnover for the first half of 02. Distribution trend: The Wolford boutiques, reduced to 255 as of 31 Jan 02, saw turnover dip by 2% for the first 3 quarters of the fiscal year. Meanwhile turnover at the 58 outlets owned by Wolford increased by 3%. New locations in last quarter in DK, PL and Yugoslavia. Strong core business: Legwear +1%, BodyCULTURE +7%, Swimwear +14%, Bodywear -11%. Legwear, Wolford’s main core business with a share of 52% in turnover, grew by 1%. Turnover in the bodyCULTURE and Swimwear segments, respectively, grew by 7% and 14% for the first 3 fiscal quarters. In Bodywear, the market-wide, fashion-driven decline reduced Wolford’s segment turnover by 11%. Innovations: “Individual Nature”, the “world’s finest-count natural fibre”, developed by Wolford technology, will also underpin the core business. The world premiere is set for autumn 02. New management in Germany: New general manager in GER as of Feb 02: Jochen Delvendahl. Preview for Q4 2001/02: Consistent focus on earnings improvement before growth in outlets. World-wide enthusiastic welcome for spring/summer 02 collection could invigorate turnover trend. end of ad-hoc-announcement (c)DGAP 07.02.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Financial calendar: 13 March 2002 Earnings Figures third quarter 2001/02, 07 May 2002 Turnover FY 2001/02, 16 July 2002 Annual Press Conference FY 2001/02. Shareholder hotlines: http://www.wolford.com , investor@wolford.com , Tel. 00.43.5574.690.1250/1213, Fax 00.43.5574.690.1410/1219 ——————————————————————————– WKN: 083400; ISIN: AT0000834007; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Frankfurt, Hamburg, München und Stuttgart 070900 Feb 02