K&M Möbel AG
Ad hoc-Service: K & M Möbel AG english
Ad hoc announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
K&M Möbel with decline in sales and deficit in the first quarter
In the first quarter of financial year 2001, K&M Möbel AG, Kirchlengern, did
not achieve the budgeted figures, which had already been scaled back in
comparison to the previous year. This was against the background of a distinct
industry-wide decline in sales and earnings in the furniture sector. Group
sales for the manufacturer of brand name and high-quality “No-Name” furniture
were EUR 62.5 million or 8 % below the previous year’s figure (EUR 68,0).
Earnings before interest and taxes (EBIT) amounted to a negative EUR 0,9
million, compared to high figure of EUR 4,4 million in the first quarter of
2000.
Despite this, K&M Möbel AG continues to anticipate a significant improvement in
the earnings compared to financial year 2000, which ended with a net loss of
EUR 4.2 million. Nevertheless, for the time being, in the current conditions
the originally planned sales growth figure is as unlikely to be achieved as a
breakeven income aftertax.
Since an improvement in market conditions is not expected, it is anticipated
that serious measures will have to be taken in order to reduce costs in
accordance with the current order position.
A detailed quarterly report will be published for the Annual Shareholders’
Meeting on May 23, 2001.
Kirchlengern, May 14, 2001
The Executive Board
end of ad hoc announcement (c) DGAP 14.05.2001
——————————————————————————–
WKN: 630300; Index: SDax
Listed: Amtlicher Handel in Düsseldorf,
Frankfurt (SMAX); Freiverkehr in Berlin, Hamburg, Stuttgart
142021 Mai 01
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found