DGAP-News: LUDWIG BECK increased sales and profit - new record result expected

Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG  / Key word(s): Quarter Results

21.10.2010 08:02 
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Munich, October 21, 2010 - LUDWIG BECK AG (ISIN DE0005199905) has continued
unabatedly on its course of growth and increased gross sales on group level
5.7 % to EUR 72.9m in the first nine months of the year 2010. The operating
result (EBIT) skyrocketed precipitously by 79.6 % to EUR 6.6m as compared
to the same period last year.

Development of sales
Gross sales of the LUDWIG BECK Group rose from EUR 69.0m to EUR 72.9m in
the months from January to September 2010 (+ 5.7 %). In the same period the
flagship store at Marienplatz (including FÜNF HÖFE) increased sales 6.8 %,
i.e. EUR 4.1m, from EUR 60.2m in the previous year to EUR 64.3m.

The Munich fashion house once again successfully outstripped its
competitors. The trade magazine TextilWirtschaft, organizer of TW-Testclub,
the best-attended panel in German textile retail trade, recorded only 4.0 %
accumulated increase until September.

Earnings situation
The gross profit of the LUDWIG BECK Group could be improved 7.2 % in the
first nine months of the fiscal year 2010 and went up from EUR 28.3m in the
same period last year to EUR 30.4m. The gross profit ratio was 49.6 %, a
rise of 0.7 percentage points as compared to the previous year (48.9 %).

The expense ratio (expenses against corresponding proceeds) could be
lowered once again in the first nine months of 2010 and settled at 38.8 %,
3.7 percentage points below last year's level (42.5 %). The absolute amount
of expenses against corresponding proceeds was EUR 23.8m (previous year:
EUR 24.7m).

The operating result (EBIT) rose enormously. The 79.6 % increase to EUR
6.6m in the months from January to September 2010 was disproportionally
strong in comparison to EUR 3.7m achieved in the same period last year.
Accordingly, the EBIT margin climbed 4.4 percentage points to 10.8 %
(previous year: 6.3 %). Earnings before taxes on income (EBT) could
be substantially improved as well and rose from EUR 1.1m to EUR 4.2m. The
EBT margin was 6.8 % (previous year: 1.9 %).

The net profit for the period of the first nine months of 2010 amounted to
EUR 2.7m (previous year: EUR -1.1m). Due to non-recurrent tax effects, the
result of the previous year had been burdened with EUR 1.7m.

Hence, the earnings performance once again considerably exceeded the
expectations of the LUDWIG BECK Group Management in the first nine months
of 2010.

Outlook
'The progress experienced in the fiscal year 2010 so far has shown that our
Group is in excellent condition, and even after the record year 2009 the
upside potential is far from exhausted', Dieter Münch, member of the
Executive Board of LUDWIG BECK AG stated. 'On the basis of the highly
satisfying business development in the first nine months of 2010 we
upgraded our earnings forecast for the full year 2010 on October 13, 2010.
We now expect earnings before taxes on income to exceed EUR 7.5m instead of
EUR 7.0m as anticipated', Münch concluded.

The detailed Nine Months' Report will be published on the Internet under
www.ludwigbeck.com in the 'Investor Relations/Financial Publications'
section under the heading 'Interim Reports'. The printed version will be
available as of October 29, 2010.

Key figures of the Group

in EURm 01/01/2010 - 30/09/2010 (01/01/2009 - 30/09/2009)
Sales (gross) 72.9 (69.0)
Sales (net) 61.3 (58.0)
Gross profit1) 30.4 (28.3)
Earnings before interest, taxes on income and depreciation (EBITDA) 9.0
(6.3)
Operating result (EBIT) 6.6 (3.7)
Earnings before taxes on income (EBT) 4.2 (1.1)
Net profit for the period 2.7 (-1.1)
Earnings per share (in EUR) 0.73 (-0.31)
Investments 1.6 (1.7)
Employees (number at relevant date 30/09)2) 500 (528)
1) Net profits from turnover minus costs of material used; 2) without
apprentices 

Investor Relations contact:   
esVedra consulting GmbH    
Metis Tarta-Steck     
t: +49. 89. 28 80 81 - 33
f: +49. 89. 28 80 81 - 49    
mts@esvedragroup.com    

Group accounting contact:
LUDWIG BECK am Rathauseck
Jens Schott
t: +49. 89. 23691 - 798 
jens.schott@ludwigbeck.de








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Language:     English
Company:      Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
              Marienplatz 11
              80331 München
              Deutschland
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:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Hamburg, Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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