Jil Sander AG
Jil Sander Group: Results for the 1st half of 2007/08
Jil Sander AG / Half Year Results/Half Year Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- JIL SANDER GROUP: RESULTS FOR THE 1ST HALF OF 2007/08 Results still not at the budgeted level Hamburg, September 14, 2007 – The JIL SANDER Group announces its half year results for the 2007/08 fiscal year. Sales revenues for the Group were € 60.7 million, which was 7.7 % below the level for the same period last year (€ 65.8 million). These sales losses were caused, in particular, by delays in shipping in January 2006 and in planned deliveries in mid-2007. Sales developments at the Group’s own retail businesses were adversely affected by relocations and late openings and at € 21.8 million, – 2.1% year-on-year, were not as planned. About € 1.5 million of the drop in sales is attributable to unfavorable changes in the foreign exchange rate. As in the prior fiscal year, the Group succeeded in significantly improving its gross margin in the first half of 2007/08 to 59%. This primarily mirrors the effects of the recently completed restructuring of the Group, which resulted in significant cost savings. In the period just ended, the JIL SANDER Group’s EBITDA (loss before interest, taxes, depreciation and amortization) was at the break-even point (prior year: € -0.3 million). Based on one-time expenditures of about € 1.2 million, there was an economically adjusted positive operating EBITDA of about € 1.2 million. Taking one-time refinancing costs of € 0.9 million into account, the JIL SANDER Group had consolidated net losses of about € 4.7 million (prior year: € 3.9 Million) in the first half of 2007/08. The management of JIL SANDER anticipates a signficant increase in sales due to a larger backlog of orders for the collection currently being sold (as compared to the previous year), a significant increase in orders for the coming 2008 spring/summer collection, and faster delivery in the coming months. Assuming the improved gross margin continues and that there is a further decline in fixed costs, we expect near break-even Group results at about the planned level. 14.09.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Jil Sander AG Christoph-Probst-Weg 4 20251 Hamburg Deutschland Phone: 040-55302-113 Fax: 040-55302-160 E-mail: jacqueline_chevalier@jilsander.de Internet: www.jilsander.de ISIN: DE0007164030 WKN: 716403 Listed: Amtlicher Markt in Frankfurt (General Standard), Hamburg; Freiverkehr in Berlin, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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