Ahlers Management Board
18 Jul. 2011
AHLERS AG INCREASES EARNINGS BY 67%German Ahlers Group with brands like Baldessarini, Pioneer Jeans, Otto Kern, Pierre Cardin and Gin Tonic accelerated its growth in the second quarter of the fiscal year of 2010/11 and increased its revenues from continued activities by 12%. Sales revenues for the six month- period rose by 7.5% to €122 million (previous year: €113 million; €119 million including Jupiter Shirts).
The positive sales trend is attributable to strong growth in the Premium and Jeans & Workwear segments, which boosted their revenues by 10% each. Every brand in these segments achieved significant growth, led by Baldessarini, Pierre Cardin, Otto Kern and Pionier Workwear.
The Group’s net income after taxes increased by impressive 67%. In the first half of the year, Ahlers generated €4.0 million, up €1.6 million on the previous year. This was primarily attributable to an 11% increase in the operating result (EBIT before special effects) and the non-recurrence of special effects which had weighed on the result in the previous year. With the equity ratio unchanged at 60%, the balance sheet remained sound.
The Management Board is optimistic about the fiscal year 2010/11. Incoming orders for the f/w 2011 season are up by a double-digit percentage on the previous year. This suggests that growth will accelerate in the second half of the year and that full-year sales revenues will rise sharply. Ahlers also projects a marked increase in consolidated net income after taxes.
The expansion of the retail activities continues according to plan. In the first half of the year, Ahlers achieved 12% growth in this segment, which now contributes 9.1% to total sales revenues (previous year: 8.3%). Another four stores were opened in the first six months of the fiscal year, e.g. in Munich and Switzerland. Ahlers now operates 31 own stores. The company also continues to expand its online activities. Following the example of Gin Tonic, Baldessarini and Otto Kern plan to open their own web stores in the second half of 2011. The number of POS is growing as well. The company plans to increase their number by approximately 8% by the end of the fiscal year.
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