on Ludwig Beck AG (isin : DE0005199905)
LUDWIG BECK Reports 2024 Financial Results Amid Challenges
The Munich-based fashion company LUDWIG BECK faced numerous challenges in 2024, including extreme weather, strikes, and geopolitical uncertainties. These factors considerably impacted their brick-and-mortar retail operations. Despite a lively atmosphere during the European Football Championship, hoped-for economic boosts did not materialize. Black Friday's pronounced online sector influence also dampened traditional Christmas sales.
The company reported gross sales of €87.2m, slightly up from €86.5m in 2023. The flagship store in Munich saw a 2.8% sales increase, but online beauty segment sales declined. Overall gross profit rose marginally to €35.5m. Earnings before taxes (EBT) totaled €0.5m, but the net result after a significant tax effect showed a loss of €-2.9m.
For 2025, LUDWIG BECK expects continued economic challenges but remains hopeful about the relevance of physical retail. Projected gross sales are between €88m to €91m.
R. H.
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