Decline in revenues and earnings due to shift of revenues into Q2 2018 and declining own retail sales. Q1-Sales 2017/18 down by EUR 2.4 mill. and consolidated earnings by EUR 0.9 mill. Forecast 2017/18 unchanged: revenues and earnings expected
Ad-hoc announcement pursuant to Article 17 MAR
Ahlers AG, Herford
ISIN DE0005009708 and ISIN DE0005009732
Decline in revenues and earnings due to shift of revenues into Q2 2018 and declining own retail sales. Revenues down by 3.8 percent or EUR 2.4 million and consolidated earnings by 31 percent or EUR 0.9 million in Q1 2017/18. Forecast for full year unchanged: revenues and earnings expected to pick up.
In the past years, the first and third quarter were influenced by a shift of revenues to the corresponding following quarters. These shifts are the result of the more effectively timed delivery of seasonal merchandise and the growing consignment sales. In the first quarter of 2017/18, revenues also shifted to the following three-month period. Sales revenues in the company's own retail stores also declined, primarily because of reduced sales per square metre but also due to the closure of some stores. Total revenues fell by EUR 2.4 million from EUR 63.1 million to EUR 60.7 million. The drop in revenues was the main reason for the reduction in consolidated earnings before taxes (EUR -1.3 million). Earnings after taxes declined by EUR 0.9 million from EUR 2.9 million to EUR 2.0 million in the first three months of 2017/18.
The Management Board confirms the forecast for the fiscal year 2017/18 published in the Annual Report 2016/17. Sales revenues are projected to increase moderately and consolidated earnings before and after taxes are expected to pick up in the medium double-digit percentage range. At the same time it has also pointed out that this forecast is subject to great uncertainty because of the volatile market conditions in the clothing retail industry.
All figures are preliminary. The final figures for Q1 2017/18 will be published on April 11, 2018.
Herford, March 26, 2018
The Management Board
Ahlers AG Elverdisser Str. 313 32052 HerfordContact: Michael Zielke Investor Relations Manager
26-March-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Ahlers AG Elverdisser Straße 313 32052 Herford
Germany Phone: +49 (0)5221 979-0 Fax: +49 (0)5221 70058 E-mail: firstname.lastname@example.org Internet: www.ahlers-ag.com ISIN: DE0005009708, DE0005009732 WKN: 500970, 500973 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Stuttgart End of Announcement DGAP News Service
668929 26-March-2018 CET/CEST