Munich, April 15, 2019: The sale process initiated by LUDWIG BECK AG on January 31, 2019 to sell the 100% interest held by LUDWIG BECK Unternehmensverwaltungs GmbH in Theo Wormland GmbH & Co. KG ("WORMLAND") led to the conclusion of a corresponding purchase agreement today. The buyer is WL Erwerbs GmbH, which is held by a team of WORMLAND managers. The seller will transfer the company free from bank liabilities and making an additional payment of approx. € 7.5m on-top. At the same time, the buyer agreed to provide an equity injection of approx. € 0.5m.
The sale of WORMLAND changes LUDWIG BECK's forecast for the 2019 fiscal year. The closing date of the purchase agreement is planned for April 30, 2019, 24:00 hours. For 2019, LUDWIG BECK now expects revenue at Group level between € 114m and € 119m (previously: between € 165m and € 170m) and EBT (earnings before taxes) between € -12 m and € -13m (previously: between € 1.5m and € 2.5m). On the level of the single-entity financial statements, LUDWIG BECK now expects a net loss for the year 2019 amounting to € -10m to € -11m. As the 2019 profit available for distribution of LUDWIG BECK AG is therefore now expected to be € 0, a dividend for the 2019 fiscal year can no longer be expected.
Ludwig Beck am Rathauseck-Textilhaus Feldmeier Aktiengesellschaft, Marienplatz 11, 80331 Munich
ISIN DE0005199905
Investor Relations contact:
esVedra consulting GmbH
Metis Tarta
t: +49 89 206021-210
f: +49 89 206021-610
mt@esvedragroup.com
Group Accounting contact:
LUDWIG BECK AG
Jens Schott
t: +49 89 23691-798
f: +49 89 23691-600
jens.schott@ludwigbeck.de