AD-HOC RELEASE according to Art. 17 MAR
LUDWIG BECK am Rathauseck – Textilhaus Feldmeier AG
- ISIN DE000519990 –
LUDWIG BECK am Rathauseck – Textilhaus Feldmeier AG withdraws sales and earnings forecast for the financial year 2020
Munich, November 4, 2020 – Against the background of the effects of the COVID 19 pandemic, the Executive Board today decided to withdraw its sales and earnings forecast for the current financial year 2020. The most recent forecast was published as a Ad-hoc release on June 15, 2020 and was based on the assumption that there will be no renewed tightening of the official orders in connection with the "coronavirus".
Due to the strong increase in the dynamics of the COVID 19 pandemic in recent weeks, the additional measures recently adopted by the federal and state governments and the resulting considerable economic restrictions and uncertainty, it is no longer possible to maintain the forecast for the financial year 2020. The cancellation of this year's Christmas markets will have a particularly negative impact on the downtown area and retail trade.
Due to the uncertainty of the further development, it is also impossible to predict at the moment when a new forecast for the current financial year 2020 will be possible.
Investor Relations:
LUDWIG BECK AG
Andre Deubel
t: +49 89 23691-745
f: +49 89 23691-600
andre.deubel@ludwigbeck.de