Munich, January 5, 2012 – The Munich fashion group LUDWIG BECK (ISIN DE 0005199905) increased branch-adjusted gross sales by 1,7 % or € 1.7m to € 103.3m in the fiscal year 2011 according to preliminary figures (previous year: € 101.6m).
The flagship store at Marienplatz in Munich (including FÜNF HÖFE) scored a disproportionally strong 2.3 % rise in sales in comparison to 2010, as sales went up from € 96.4m in the previous year to € 98.6m (+ € 2.2m). Contrary to repeatedly stated concerns, this year’s Christmas sales remained at a high level with results slightly above those of the previous year. Consumers have not succumbed to the global news situation but upheld their good spending mood and obviously enjoyed and delighted in shopping and buying presents.
In view of the preliminary sales figures the company’s management is very optimistic about the overall development of the year 2011. The Executive Board assumes the Group’s EBT to settle at the upper end of its expectations. Earnings before taxes forecasts range between € 9.0m and € 11.0m. This means that last year’s record result (€ 9.9.m) would clearly be outperformed.
“We are most satisfied with the development of our flagship store in particular. This is further proof of the success of our business model which focuses our activities at Marienplatz in Munich“, Dieter Münch, member of the Executive Board of Ludwig Beck AG commented.
Detailed figures for the fiscal year 2011 as well as the expectations for the newly commenced fiscal year 2012 will be presented to the public at a balance sheet conference in Munich on March 14, 2012.