Jil Sander AG
Jil Sander AG – JIL SANDER Group 2003 results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Jil Sander AG – JIL SANDER Group 2003 results
Hamburg, March 26, 2004 – The Board of Directors of the JIL SANDER AG met today
and approved the 2003 financial results of the JIL SANDER AG and the JIL SANDER
Group.
The past year has been pivotal in the turn-around process for the JIL SANDER
Group. Undoubtedly, the most significant event of 2003 was Jil Sander’s return
to her namesake brand that was cheered not only by fashion critics worldwide but
also, and perhaps more importantly, by her very loyal client base.
Ms. Sander’s return was especially important in terms of the overall company
strategy, image and brand equity.
JIL SANDER Group’s financial performance, like those of all luxury brands, was
negatively affected by a number of circumstances in 2003 such as the political
strife in the Middle East — namely the War in Iraq –, the outbreak of Severe
Acute Respiratory Syndrome (SARS) in the Far East and the appreciation of the
Euro against all major world currencies, especially the U.S. dollar and the
Japanese Yen. All of these circumstances contributed to a decline in tourism in
many of the main cities where JIL SANDER’S product lines are distributed.
As a consequence, the Group posted revenues of 125.7 million Euro (or 135.1
million Euro at constant exchange rates) in 2003 compared to 138.8 million Euro
in 2002. The Group reported a net loss of 28.4 million Euro.
JIL SANDER AG sales amounted to 76.5 million Euro in 2003, while its net loss
was 28.8 million Euro.
“With this difficult year behind us, we have signs that 2004 is off to a good
start thanks to Mrs. Sander’s return as Creative Director. Orders and sales for
the spring/summer and fall/winter collections have been very strong,” said
Bernhard Wirmer, JIL SANDER Group Chief Financial Officer. “For 2004, we
forecast a significant improvement in sales and a sharp reduction of the Group’s
losses.”
end of ad-hoc-announcement (c)DGAP 26.03.2004
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WKN: 716403; ISIN: DE0007164030; Index:
Listed: Amtlicher Markt in Frankfurt (General Standard) und Hamburg; Freiverkehr
in Stuttgart
262330 Mär 04
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