14.12.2015,
7846 Zeichen
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
Mid Year Results/quarterly report
14.12.2015
Revenue growth in all segments\nFurther strengthening of retail competence\nRevenue increase and positive operating results expected for the entire year 2015/16\n Vienna/Bregenz, December 14, 2015.Wolford AG, which is listed on the Vienna
Stock Exchange, generated a substantial increase in revenues in all segments in
the first half of the 2015/16 financial year (May 1, 2015 to October 31, 2015)
against the backdrop of a challenging economic and political environment. It
also gained momentum in its operating business by increasing second-quarter
EBIT in a year-on-year comparison.
On balance, Wolford reported significant revenue growth in the first six
months of the current financial year, with revenues up 9.1% to EUR 79.24
million, also due to positive currency effects of the US dollar and British
pound. Revenue growth was 3.1% when adjusted for currency effects. The
development Wolford's operating earnings indicators should be considered in
connection with the one- off effects reported in the 2014/15 financial year,
cost increases related to the appreciation of the US dollar and British pound
as well as a slight expansion of the Wolford workforce as a means of
strengthening its retail business. Against this backdrop, the half-year
operating results (EBIT) of EUR -0.28 million were below the prior-year figure
(H1 2014/15: EUR 3.17 million). However, when adjusted to take account of all
one-off effects, EBIT in the first half of the current financial year actually
rose by EUR 2.63 million. Wolford gained additional strength in its operating
business by posting a year-on-year EBIT increase in the second quarter of
2015/16. Earnings after tax totaled EUR -0.90 million compared to EUR 1.38
million in the previous year. Earnings per share equalled EUR -0.18, down from
EUR 0.28 in the first half of 2014/15.
Retail and online businesses as growth drivers A declared objective of
Wolford is to enhance its retail competence in all regions. In this regard,
Wolford considerably strengthened its international retail team in the first
half-year. The expansion of operations and hiring of new staff was also
reflected in the revenue development of the retail business. Revenues generated
by Wolford-owned retail stores rose by more than 7% in both absolute terms and
on a like-for-like basis. Year-on-year retail growth was also achieved taking
currency effects into account. The online business once again developed very
successfully, showing a 63.9% increase in revenues. The wholesale segment
reported growth of 5.2%, which can be attributed to changed delivery dates.
Revenue growth in most core sales markets From a regional perspective,
Wolford's core sales markets showed a fundamentally positive picture. Wolford
generated double-digit revenue increases in the USA, Great Britain and on the
Asian growth market. In spite of the difficult economic conditions prevailing
in Europe, Wolford still reported a rise in revenues in Belgium, Netherlands,
France and southern European markets, whereas Austria and Germany were
particularly impacted by the long heat wave and witnessed a slight drop in
revenues.
Solid balance sheet structure The Wolford Group continued to boasts a sound
asset and capital structure at the balance sheet date of October 31, 2015. The
balance sheet total increased to EUR 154.28 million compared to EUR 148.14
million at the prior half-year balance sheet date of October 31, 2014, which
was the result of higher inventories and higher deferred tax assets, Equity of
the Wolford Group as of October 31, 2015 amounted to EUR 73.28 million, a drop
of EUR 2.94 million from the comparable figure at the end of 2014/15. As a
result, net debt rose from EUR 20.66 million to EUR 25.50 million. The equity
ratio was 48% (October 31, 2014: 51%) and gearing equaled 35% (October 31,
2014: 27%).
Strengthening of innovation capabilities The consistent orientation of all
activities to the company's strategic reorientation initiative not only led to
significant revenue growth in Wolford's online and retail businesses, but also
led to a more dynamic innovation process. One direct result was a further
milestone set by Wolford following the launch last year of the world's first
bonded tights (Pure 50 Tights). This autumn Wolford presented its Pure 10
Tights, a unique bonding technique developed by Wolford after years of
research, which attracted considerable attention.
Outlook The first half of the Wolford business year is traditionally the
weakest for seasonal reasons. Wolford implemented the strategic reorientation
in recent months, thus laying the groundwork for increased revenues and
improved earnings. For this reason, Wolford confirms its original target of
generating a further increase in revenues and once again concluding the current
financial year with positive operating results.
The report on the first quarter of 2015/16 is available at
company.wolford.com / Investor
Relations:http://company.wolford.com/wp-content/uploads/2015/12/
Wolford_HY_Report_2015_16.pdf
Earnings
Data 05 -10/15 05 -10/14 Chg. in % 2014/15
Revenues in EUR mill. 79.24 72.63 +9 157.35
EBIT in EUR mill. -0.28 3.17 >100 2.17
Earnings before tax in EUR mill. -0.80 2.72 >100 1.21 Earnings after tax in
EUR mill. -0.90 1.38 >100 1.03 Capital expenditure in EUR mill. 3.60 5.44 -34
10.97 Free cash flow in EUR mill. -7.33 -3.87 -89 -0.54 Employees (on average)
FTE 1,578 1,567 +1 1,574
Balance
Sheet Data 31.10.2015 31.10.2014 Chg. in % 30.04.2015
Equity in EUR mill. 73.28 76.22 -4 74.83
Net debt in EUR mill. 25.50 20.66 +23 17.12
Working capital in EUR mill. 43.74 39.97 +9 38.14 Balance
sheet total in EUR mill. 154.28 148.14 +4 147.44
Equity ratio in % 48 51 - 51
Gearing in % 35 27 - 23
Stock Exchange Data 05 -10/15 05 -10/14 Chg. in % 2014/15 Earnings per share
in EUR -0.18 0.28 >100 0.21 Share price high in EUR 23.98 24.05 0 24.12 Share
price low in EUR 20.89 18.75 +11 18.75 Share price at end of period in EUR
22.42 19.45 +15 24.00
Shares
outstanding
(weighted) in 1,000 4,900 4,900 0 4,900
Market
capitalization
(ultimo) in EUR mill. 112.10 97.25 +15 120.00
About Wolford AG Wolford AG, which is headquarters in Bregenz on Lake
Constance (Austria) has 16 subsidiaries and markets its products in more than
60 countries through 270 Monobrand points of sale (company-owned and
partner-operated), approx. 3,000 distribution partners and online. The company,
which has been listed on the Vienna Stock Exchange since 1995, generated
revenues of EUR 157.4 million in the 2014/15 financial year (May 1, 2014 -
April 30, 2015) with roughly 1,570 employees. Since its founding in 1950,
Wolford has grown to become the leading global brand for luxurious legwear,
exclusive lingerie and high-quality bodywear.
end of announcement euro
adhoc
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issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: +43 (0) 5574 690-1268
FAX: +43 (0) 5574 690-1219
mail: investor@wolford.com
WWW: company.wolford.com
sector: Textiles & Clothing
ISIN: AT0000834007
indexes: ATX Prime, ATX Global Players stockmarkets: free trade: Frankfurt,
regulated dealing: Wien, ADR: New York language: English
Digital press kit:
http://www.ots.at/pressemappe/16324/aom
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Wolford
Akt. Indikation: 3.90 / 4.50
Uhrzeit: 22:47:35
Veränderung zu letztem SK: -2.33%
Letzter SK: 4.30 ( 7.50%)
Bildnachweis
1.
Axel Dreher (Vorstandssprecher Wolford AG), Maryia-Luiza und Lana (Models), Thomas Melzer (Finanzvorstand Wolford AG) - Wolford AG: Umsatz und Ergebnisse des Geschäftsjahres 2013/14 im Rahmen der Erwa
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