Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
ISIN: DE0005199905
WKN: 519990
18 July 2024 08:30AM

EQS-News: LUDWIG BECK closes first half-year at par

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG · ISIN: DE0005199905 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1948675

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Half Year Report/Half Year Results
LUDWIG BECK closes first half-year at par

18.07.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


LUDWIG BECK closes first half-year at par

 

Munich, July 18, 2024 – The German textile retail sector closed the first half of 2024 with a gross sales par unchanged from the previous year. The first quarter was very positive: plenty of sunshine and spring-like temperatures in March increased consumers' shopping propensity, which resulted in a 4 per cent increase in sales for stationary fashion retailers compared to the previous year. However, a different picture emerged in the second quarter. Due to the cool, unstable, and rainy weather, consumers' buying mood and willingness to spend fell significantly. Customers were particularly reluctant to buy seasonal goods such as T-shirts, shorts, and summer dresses, and the expected demand for summer clothing largely failed to materialize.

Sales development

In the first half of the 2024 fiscal year, LUDWIG BECK generated gross sales of € 37.2m (previous year: € 37.1m). This half-year period was marked by challenges for LUDWIG BECK. Heavy weather with hail, persistent rain, and flooding in the region around Munich lead to a significant decline in sales in May and June. Additionally, the UEFA European Championship, which attracted many fans to Munich's city centre but created more of a party than a shopping atmosphere, led to revenue losses. In addition, the outsourcing of logistics to a new service provider in Schwaig, which has now been successfully completed, had a slightly negative impact on sales in some product lines in the second quarter.

In the first half of the 2024 fiscal year, sales in the "textile" segment increased from € 27.1m to € 28.3m. Sales in the "non textile" segment totalled € 8.9m, compared to € 9.9m in the previous year, partly due to the closure of a non-domestic online sales channel in the beauty segment.

Earnings situation

Gross profit fell slightly in the reporting year from € 15.3m in the previous year to € 15.1m.

Other operating income totalled € 1.9m (previous year: € 1.6m). In line with the sales situation, personnel expenses totalled € 8.1m, similar to the previous year's figure of € 8.2m. At € 3.3m, depreciation remained at the previous year's level. Other operating expenses amounted to € 6.4m (previous year: € 5.9m). In addition to general price increases, one-off additional costs were incurred due to the outsourcing of the logistics activities.

Earnings before interest and taxes (EBIT) deteriorated from € -0.3m to € -1.0m.

Earnings after taxes (EAT) totalled € -1.5m in the first half of 2024 (previous year: € -0.8m).

Outlook

LUDWIG BECK now hopes for a return to more suitable conditions, and that business and demand for summer fashion will pick up again in the third quarter. The Munich Oktoberfest, which will start in September, is another important revenue driver for LUDWIG BECK. This world-famous festivity attracts not only locals but also numerous tourists who traditionally stock up on traditional costumes and festive clothing. The company is well prepared for the second half of the year, both strategically and in terms of its product range. With a well thought-out product assortment that sets both classic and fashionable accents, LUDWIG BECK is well equipped to fulfil the many different customer desires. LUDWIG BECK is therefore optimistic about the second half of the year.

Based on the opportunities that LUDWIG BECK's management foresees for the second half of the year, the Executive Board is maintaining the forecasts published in March 2024.

The detailed half-year report for the fiscal year 2024 is published on the company's website at http://kaufhaus.ludwigbeck.de in the "Investor Relations" section, "Financial Publications" under the heading "Interim Reports".

 

Contact Investor Relations:
LUDWIG BECK AG
A. Deubel
t: +49 89 23691 – 745
f: +49 89 23691 – 600
ir@ludwigbeck.de

 



18.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
Marienplatz 11
80331 München
Germany
Phone: +49 (0)89 2 36 91-0
Fax: +49 (0)89 2 36 91-600
E-mail: info@ludwigbeck.de
Internet: www.ludwigbeck.de
ISIN: DE0005199905
WKN: 519990
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 1948675

 
End of News EQS News Service

1948675  18.07.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 139,58 80,08 51,49 55,40 70,40 72,70 77,50
EBITDA1,2 8,40 12,89 4,33 12,99 11,27 9,94 11,00
EBITDA-Margin3 6,02 16,10 8,41 23,45 16,01 13,67 14,19
EBIT1,4 1,95 6,96 -1,88 6,64 4,91 3,11 4,05
EBIT-Margin5 1,40 8,69 -3,65 11,99 6,97 4,28 5,23
Net Profit (Loss)1 -0,81 -13,59 -1,74 3,63 2,24 0,43 1,10
Net-Margin6 -0,58 -16,97 -3,38 6,55 3,18 0,59 1,42
Cashflow1,7 4,32 7,87 -3,50 10,24 6,88 5,76 6,90
Earnings per share8 -0,22 -3,68 -0,47 0,98 0,60 0,12 0,30
Dividend per share8 0,00 0,00 0,00 0,00 0,00 0,15 0,17
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: BTU Treuhand

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Ludwig Beck
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
519990 DE0005199905 AG 53,95 Mio € 18.05.1998 Halten 8FWH4HPG+VM
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
27,04 32,96 0,82 42,94 0,83 9,37 0,74
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,00 0,15 0,17 1,16%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
22.05.2025 17.04.2025 24.07.2025 17.10.2024 27.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+4,29%
14,60 €
ATH 38,24 €
-16,79% -26,65% -25,13% -24,74% -57,06%

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