DGAP-Ad-hoc: Adler Modemärkte AG / Key word(s): Change in Forecast/9-month figures
Haibach (near Aschaffenburg), 7 November 2018: In light of the extraordinarily hot and long summer as well as downbeat industry expectations for the holiday season, Adler Modemärkte AG had revised downward its forecast for 2018 overall as reported in the 2017 Annual Report.
The management now expects revenue for the overall year to be down slightly year on year at EUR 525.8 million; previously, it had been expected that revenue would be roughly on par with the prior-year level. EBITDA is now expected to range between EUR 20 million and EUR 24 million, down from EUR 26-29 million.
ADLER continues to have a very healthy balance sheet structure. At 30 September 2018, liquidity amounted to EUR 47.5 million and was thus EUR 10.9 million higher than at 30 September 2017 (EUR 36.6 million).
Adler Modemärkte AG
Tel.: +49 6021 633 1828
Information and Explanation of the Issuer to this News:
Following a solid development in the third quarter, which was difficult for the industry as a whole, demand was below expectations in October and the first days in November due to the warm weather; additionally, a representative survey by Ernst&Young also tempered expectations for business at the holidays throughout the textiles retail sector.
Regardless of the current trend, ADLER is still well positioned to finance the measures launched as part of its 2020 strategy on its own thanks to its strong liquidity. As previously, the Company can leverage this extremely sound financial foundation to return the Group to a profitable growth path as planned in the medium to long term.
As predicted, the ADLER 2020 Strategy and the already announced switch in the logistics service provider will begin to have a positive effect on earnings for the first time in financial year 2019.
ADLER will publish its full report on the first nine months of 2018 on 8 November 2018.
07-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Adler Modemärkte AG|
|Industriestraße Ost 1-7|
|Phone:||+49 (0) 6021 633 0|
|Fax:||+49 (0) 6021 633 1299|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
742851 07-Nov-2018 CET/CEST