Wolford AG — Earnings Release 2005

Dec 16, 2005

News Details

Ad-hoc | 16 December 2005 08:30

Wolford AG: WOLFORD IMPROVES PROFITABILITY RESULT IN H1

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— – EBIT: +20.2 percent, EBT: +85.4 percent – Sales grow 2.3 percent to EUR 57.3 million Bregenz/Vienna, Austria, December 16, 2005 In the period from May 1 to October 31, 2005, sales were up 2.3 percent, from EUR 56.0 million in the first half of the previous fiscal year to EUR 57.3 million. The currency-adjusted growth rate was 2.6 percent. The rising trend witnessed in the first quarter (when sales were up 1.9 percent) has thus strengthened. Wolford’s earnings situation improved disproportionately more strongly than its sales. Accordingly, all important measures of earnings increased. Despite slightly reduced operating output, but at effectively unchanged levels of all cost items (materials, staff and other expenses), EBIT rose by one-fifth to EUR 1.2 million. Even more substantial gains were made in profit before taxes (up 85.4 percent to EUR 0.5 million) and in net profit, which nearly doubled, rising by 96.9 percent to EUR 0.6 million as of the end of October 2005. Earnings per share for the first half of the fiscal year increased from EUR 0.07 to EUR 0.13. The consistent retirement of debt continued in the reporting period. The reduction of bank loans and overdrafts by EUR 3.7 million meant a corresponding further reduction in net debt. As a consequence, the gearing improved from 42.5 to 40.3 percent. The Executive Board expects a continuing positive trend and remains confident for the business performance going forward. The target for the full fiscal year remains an increase in sales to at least EUR 120 million and an accompanying improvement in profitability at a rate exceeding the pace of sales growth. The half year report in German and English is available as download on the Wolford website http://www.wolford.com . Contacts:Holger Dahmen, Chief Executive Officer Peter Simma, Chief Financial Officer investor@wolford.com , http://www.wolford.com Wolford AG, Wolfordstraße 1, 6901 Bregenz; Austria Tel.:+43 (0) 5574/690 0 Wolford AG Wolfordstraße 1 6901 Bregenz Austria ISIN: AT0000834007 WKN: 083400 Listed: Amtlicher Handel in Wien; Open Market in Frankfurt; Freiverkehr in Berlin-Bremen, Hamburg, München und Stuttgart End of ad hoc announcement (c)DGAP 16.12.2005