EQS-News: LUDWIG BECK – Consolidated financial statements as of December 31, 2024
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EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
/ Key word(s): Annual Results/Annual Report
Corporate News
LUDWIG BECK – Consolidated financial statements as of December 31, 2024 Munich, March 27, 2025 – Munich-based fashion group LUDWIG BECK (ISIN DE 0005199905) once again faced numerous challenges in 2024. The financial year was characterised by extreme weather, strikes, and domestic and foreign political uncertainties, which had a strong impact on brick-and-mortar retail. The war in Ukraine and its economic impact on companies and consumers dampened consumer spending in all segments. Despite the lively atmosphere in the country, the European Football Championship did not provide the hoped-for economic impetus. The fourth quarter, which traditionally generates the highest sales, and Christmas business in particular, were also disappointing, not least due to the massive impact of Black Friday, which originated from the online sector. Sales development In the 2024 financial year, LUDWIG BECK generated gross sales of € 87.2m, up 0.8% on the previous year's figure of € 86.5m. However, the forecasted target range of € 90-93m was not fully achieved. Only, the flagship store at Munich's Marienplatz reported a 2.8% increase. However, this positive development was dampened by a decline in online sales, especially in the beauty segment. In addition to fierce price competition, one distribution channel had to be closed due to regulatory requirements imposed by some major suppliers. Sales were distributed across the segments “Textile” with € 66.0m (previous year: € 63.7m) and “Non-textile” with € 21.2m (previous year: € 22.8m). Earnings situation As a result of the sales trend, the gross profit increased from € 35.3m to € 35.5m. At 48.5%, the gross profit margin remained at the previous year's level. Other operating income, consisting of rental, sales, and personnel income as well as own work capitalised, rose by € 0.2m to € 5.0m (previous year: € 4.8m). Personnel expenses fell by € 0.2m from € 16.8m to € 16.6m due to structural adjustments in administration. Depreciation and amortisation amounted to € 6.8m, as in the previous year. This included depreciation of right-of-use assets from the recognition of rental agreements in accordance with IFRS 16 (finance lease) in the amount of € 3.8m (previous year: € 3.9m). Other operating expenses increased from € 13.3m to € 13.7m, mainly due to higher occupancy costs and sales expenses. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) amounted to € 10.2m (previous year: € 9.9m). Earnings before interest and taxes (EBIT) improved from € 3.1m in the previous year to € 3.4m in the financial year under review. The sharp rise in interest rates for short-term credit lines led to a financial result of € -2.9m, a deterioration of € 0.4m compared to the previous year's result of € -2.5m. The financial result included € 1.2m interest from the recognition of leases in accordance with IFRS 16 (previous year: € 1.1m). Earnings before taxes (EBT) amounted to € 0.5m (previous year: € 0.6m). Due to the massive deterioration of Germany’s conditions as a business location and in the textile retail industry, the company has revised its medium-term forecasts downwards and derecognised a large portion of the deferred tax assets on loss carry forwards, which originate exclusively from the COVID-19 pandemic years, in the amount of € 3.0m. It is only an adjustment of book values. Tax loss carryforwards will be retained in full. Due to this one-time special effect, earnings after taxes (EAT) amounted to € -2.9m (previous year: € 0.4m). Outlook The Executive Board expects continued economic uncertainty in 2025, as it cannot be assumed that there will be any change in the external factors influencing the retail sector. Nevertheless, LUDWIG BECK is cautiously optimistic about the forthcoming financial year and continues to believe in the relevance of brick-and-mortar retailing. However, the management of LUDWIG BECK does not expect any major leaps in sales and earnings in the 2025 financial year and anticipates gross sales at Group level of between € 88m and € 91m and earnings before taxes (EBT) of between € 0.5m and € 1.8m.
Further information on the company and its shares can be found on the company's website at http://kaufhaus.ludwigbeck.de.
Key Performance Indicators
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27.03.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| 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: | 2107542 |
| End of News | EQS News Service |
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2107542 27.03.2025 CET/CEST
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 | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 80,08 | 51,49 | 55,40 | 70,40 | 72,70 | 73,31 | 75,50 | |
| EBITDA1,2 | 12,89 | 4,33 | 12,99 | 11,27 | 9,94 | 10,21 | 11,10 | |
| EBITDA-Margin3 | 16,10 | 8,41 | 23,45 | 16,01 | 13,67 | 13,93 | 14,70 | |
| EBIT1,4 | 6,96 | -1,88 | 6,64 | 4,91 | 3,11 | 3,45 | 4,35 | |
| EBIT-Margin5 | 8,69 | -3,65 | 11,99 | 6,97 | 4,28 | 4,71 | 5,76 | |
| Net Profit (Loss)1 | -13,59 | -1,74 | 3,63 | 2,24 | 0,43 | -2,87 | 0,90 | |
| Net-Margin6 | -16,97 | -3,38 | 6,55 | 3,18 | 0,59 | -3,92 | 1,19 | |
| Cashflow1,7 | 7,87 | -3,50 | 10,24 | 6,88 | 5,76 | 6,87 | 7,60 | |
| Earnings per share8 | -3,68 | -0,47 | 0,98 | 0,60 | 0,12 | -0,78 | 0,24 | |
| Dividend per share8 | 0,00 | 0,00 | 0,00 | 0,00 | 0,15 | 0,00 | 0,10 | |
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: Rödl & Partner
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| INVESTOR-INFORMATION | ||||||
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| Ludwig Beck | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| 519990 | DE0005199905 | AG | 43,23 Mio € | 18.05.1998 | Halten | 8FWH4HPG+VM |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| 21,27 | 38,16 | 0,56 | -75,48 | 0,70 | 6,30 | 0,59 |
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Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,15 | 0,00 | 0,10 | 0,85% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 22.05.2025 | 17.04.2025 | 24.07.2025 | 16.10.2025 | 27.03.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -3,24% | -12,09% | -18,75% | -25,95% | -65,59% |
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