Hallhuber GmbH
Half-year report – Hallhuber: Continuing on a growth path
Hallhuber GmbH / Key word(s): Interim Report
Half-year report – Hallhuber: Continuing on a growth path – Sales up by 11 percent to EUR47.3 million – Operating result: EUR2.3 million Munich, 26 September 2013. Hallhuber GmbH, the German fashion company for high-end women’s wear, continued on its growth path in the first six month of 2013. As the half-year report published today shows, sales rose by 11 percent compared with the prior-year period to EUR47.3 million. This is due to the greater number of stores and sales areas from 132 to 146 (as of 30 June 2013) but also to an increase in sales by 3.1 percent (including online shops) on a like-for-like basis. ‘This is a great success particularly in view of sales in our industry which fell across the board by six percent,’ says Norbert Steinke, Manager of Hallhuber GmbH. Hallhuber thus substantially improved its market share once again – also adjusted for retail space. Gross profit rose by EUR3.4 million to EUR31.1 million. Operating EBITDA, at EUR2.3 million, was lower than the comparable prior-year figure of EUR3.1 million. The main reason for this are the startup costs for expanding stores and online channels. Total assets rose by EUR13.6 million to EUR65 million. In the first half of the year Hallhuber also very successfully placed a mid cap bond for EUR30 million. Hallhuber will use the proceeds to finance further growth and, as announced, to discharge parts of the shareholder loan. As a result of this rescheduling, economic equity fell as planned from EUR26.9 million at the end of 2012 to EUR5.3 million EUR at 30 June 2013 since the loan was equity-related. Thanks to its strong performance, Hallhuber will be able to substantially improve this figure by yearend. ‘In the second half of the year we will continue to expand, opening more than 20 retail shops,’ says manager, Norbert Steinke. ‘Our operating performance is still strong and we expect higher operating profits for 2013 than in 2012, and in 2014 we will see a significant rise in sales and profits.’ / About Hallhuber: Hallhuber GmbH, a fashion retailer specialising in high-quality women’s wear, was founded in 1977 at the company’s headquarters in Munich. Hallhuber sells only fashions designed by its own team of designers which are produced in selected, controlled workshops and sold exclusively through 167 shops (as of August 2013) in Germany, Austria, Belgium, Switzerland and the Netherlands as well as through its own online platform in Germany, Austria and France. In 2012 the company posted sales of 94 million euros, rising in both of the past two years by over 20 percent. Norbert Steinke has been CEO since 2009, with Richard Lohner as CFO since 2010. Hallhuber GmbH is wholly owned by Hallhuber Beteiligungs GmbH and constitutes this holding company’s only investment. Disclaimer: This information constitutes neither an offer to purchase nor a subscription to securities of Hallhuber Beteiligungs GmbH nor an invitation to submit an offer for acquisition of securities. Fractional bonds of Hallhuber Beteiligungs GmbH may be purchased exclusively on the basis of the security prospectus which is downloadable at www.hallhuber.com and obtainable free of charge from Hallhuber Beteiligungs GmbH, Taunusstrasse 49, 80807 Munich, Germany. Contact: End of Corporate News 26.09.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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