euro adhoc: ESCADA AG
Financial Figures/Balance Sheet
ESCADA fully on track
after 9 months - Orders for 2005-06 up by double-digit percentage
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.09.2005
Aschheim/Munich, September 14, 2005 - After nine months of fiscal 2004-05, ESCADA AG is firmly on track as planned, and has in fact shown a gratifying increase in new orders. During the first nine months of the year, Group revenues at the maker of womens luxury fashions were up 2.6 percent, from EUR 450.9 million to EUR 462.6 million. This growth was supported mainly by the ESCADA brand, which gained 4.6 percent, rising from EUR 298.9 million to EUR 312.7 million.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) grew 35.3 percent to EUR 45.6 million in the first nine months (first nine months of 2003-04: EUR 33.7 million). Thus operating earnings rose significantly faster than revenues, thanks primarily to a higher gross profit margin generated by a higher full-price sell through combined with a lower cost ratio. Earnings after taxes and minority interests were up to EUR 9.6 million, compared to zero for the equivalent period a year earlier.
Consolidated revenues for the third quarter were up 3.5 percent to EUR 150.0 million (Q3 2003-04: EUR 144.9 million). EBITDA rose 37.9 percent, from EUR 8.7 million to EUR 12.0 million, and the profit after taxes and minority interests came to EUR 2.8 million (Q3 2003-04: EUR -2.6 million).
For 2004-05 as a whole, ESCADA continues to expect Group revenues in euros to rise slightly. Management assumes that the improvement of EUR 11.9 million in EBITDA for the first nine months of the year will expand even further for the year as a whole (EBITDA for 2003-04: EUR 47.3 million). Thus the figure will outperform the previous expectation of improving EBITDA by at least EUR 10 million for the entire year. Moreover, management also expects the consolidated after-tax profit will increase more than proportionately, to more than EUR 10 million (2003-04: EUR 3.8 million).
New orders for the 2006 Spring/Summer collections were up by more than 10 percent in value against the previous year, for both ESCADA Collection and ESCADA Sport - mainly thanks to the impetus provided by wholesale clients and franchise partners, and to rising demand in Western and Eastern Europe. The level of new orders implies that business performance in 2005-06 will also be satisfactory.
end of announcement euro adhoc 14.09.2005 07:00:00
Further inquiry note:
Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com
Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: SDAX, Prime Standard, CDAX, Classic All Share, Prime All
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Börsen: Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Frankfurter Wertpapierbörse / official dealing
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