Köhler & Krenzer Fashion AG
Köhler & Krenzer Fashion english

Köhler & Krenzer Fashion AG announces six-months figures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– In the period from June 1 through to November 30, 2002, Köhler & Krenzer Fashion AG (ISIN DE0006303407), Ehrenberg, recorded sales revenues of EUR 49.3 million (previous year: EUR 53.4). In spite of the difficult market situation and weak consumer demand the company has been able to maintain its sales levels in terms of unit volume. As female clientele showed heightened price awareness and sensitivity, sales in terms of value came in below the previous year’s record sales figures. During the past reporting period the operative group companies invested in renovation and maintenance work in group buildings, as well as in planning, merchandising and new shop-in-shops. All in all, these special expenditures burdened group performance by around TEUR 710. In addition, the continuation of low consumer confidence and poor retail sales figures as well as rising pressure on the margins of garment manufacturers weighed on earnings trends. In the reporting period earnings before depreciation, interest and taxes (EBITDA) dropped from the previous year’s figure of EUR 9.5 million to EUR 6.9 million (adjusted by special expenditures for investments: EUR 7.6 million). This puts the EBITDA margin for the first half-year 2002/2003 at 14 percent. Earnings before interest and taxes stood at EUR 5.5 million (previous year: EUR 8.0 million), while EBIT adjusted by special investment costs amounted to EUR 6.2 million. Group net income for the period, before minority participation, was recorded at EUR 3.1 million (previous year: EUR 4.8 million), which translates as net earnings per share (before third party profit participation) of EUR 1.56 (previous year: EUR 2.9 million), and EURO 0.90 (previous year: EUR 1.47) earnings per share in accordance with DVFA/SG (German Association for Financial Analysis and Investment Counseling). Company management does not anticipate any significant upswing in garment sales to occur in the course of the year 2003. With regard to the ongoing business 2003 business year Köhler & Krenzer Fashion AG is anticipating sales of EUR 82.2 million and earnings before interest and taxes (EBIT) of EUR 7.9 million. Ehrenberg, January 31, 2003 The managing board Should you have any questions please contact: Köhler & Krenzer Fashion AG, Mr. Robert Schmitt, Board chairman, Phone: + 49-(0) 06683-15-0. end of ad-hoc-announcement (c)DGAP 31.01.2003 ——————————————————————————– WKN: 630340; ISIN: DE0006303407; Index: Listed: Geregelter Markt Frankfurt (SMAX), Hamburg; Freiverkehr in Berlin, Düsseldorf, München 310844 Jän 03