Wöhrl with slight decline in 2012/13.
05 Sep. 2013
Wöhrl registers slight declineFamily business Wöhrl registered a slight decline in business year 2012/13. The sales slowdown was at 1.1% from 271.1 million euro last year compared to 268 million euro this year. The company attributes this to the closure of a department store in Munich and the short-term closure of different strong-selling department stores for renovations.
Significant for the accounting year 2012/13 was Wöhrl’s takeover of SinnLeffers. “With 60 department stores in total, 4000 employees and an annual sale of 600 million euro we’ve got a strong basis for a successful future. It is our aim to become the most successful multi-brand chain provider in Germany by focusing an efficient use of our forces,” says Olivier Wöhrl, chairman of Rudolph Wöhrl AG.
In the past year, Wöhrl won a new investor group, who issued a corporate bond on February 2013 to the sum of 30 million euro. The funds were mainly used for the renovation of the existing department stores. These investments were negative for the profit of the company. The EBITDS decreased from 11.5 million euro in the previous year to 10.5 million euro for 2012/13. Also the EBIT decreased from 7.4 million euro to 5.5 million euro.
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