LUDWIG BECK with positive sales development in the 2023 fiscal year

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s):
Annual Results/Annual Report
LUDWIG BECK with positive sales development in the 2023 fiscal year

21.03.2024 / 12:25 CET/CEST
The issuer is solely responsible for the content of this announcement.

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LUDWIG BECK with positive sales development in the 2023 fiscal year

Munich, March 21, 2024 - Munich-based fashion group LUDWIG BECK (ISIN DE
0005199905) experienced a mixture of ups and downs in the 2023 fiscal year.
Despite the ongoing war in Ukraine and a subdued consumer sentiment forecast
for the first quarter of 2023, LUDWIG BECK achieved an increase in sales of
around 20% compared to the previous year, which had been affected by
COVID-19 effects. The second quarter was characterized by cold and rainy
weather in April and May, which somewhat dampened enthusiasm for the new
spring/summer collection. Nevertheless, LUDWIG BECK managed to maintain
sales at the previous year's level in the first half of the year. In the
third quarter, the prolonged summer with warm temperatures negatively
impacted the fashion trade. However, an increased demand for traditional
costume fashion partially offset the lower demand for fall/winter
merchandise. In addition to challenges from many online discount campaigns,
LUDWIG BECK faced a snow chaos in Munich and a subsequent rail strike during
the Christmas season.

Sales development

In the 2023 fiscal year, LUDWIG BECK (including online) generated gross
sales of EUR 86.5m (previous year: EUR 83.8m). The "textile" segment contributed
EUR 63.7m (previous year: EUR 60.8m) and the "non-textile" segment EUR 22.8m
(previous year: EUR 23.0m) to this sales development.

Earnings situation

Gross profit rose from EUR 35.0m to EUR 35.3m, although the gross profit margin
of 48.5% was below the previous year's figure of 49.8% due to higher price
discounts.

Other income amounted to EUR 4.7m and was therefore significantly higher than
the previous year's figure of EUR 3.8m.

Depreciation and amortization including finance leases amounted to EUR 6.8m
(previous year:
EUR 6.4m).

Other operating expenses increased from EUR 11.8m to EUR 13.3m, mainly due to
higher occupancy and selling expenses as well as a loss on receivables of EUR
1.2m resulting from the withdrawal from a purchase agreement in connection
with the sale of a property in Hanover.

Accordingly, earnings before interest, taxes, depreciation, and amortization
(EBITDA) decreased from EUR 11.3m to EUR 9.9m.

Earnings before interest and taxes (EBIT) decreased from EUR 4.9m in the
previous year to
EUR 3.1m in the 2023 fiscal year. In addition to the negative effect from the
loss on receivables, the disappointing December business was the main reason
for this earnings development. LUDWIG BECK was within the planning corridor
until the end of November 2023.

The financial result, including finance leases, amounted to EUR -2.5m in the
fiscal year (previous year: EUR -2.1m). The sharp rise in short-term overdraft
interest rates had an even greater negative impact on the financial result
in the 2023e fiscal year than in previous years.

Earnings before taxes (EBT) amounted to EUR 0.6m (previous year: EUR 2.8m).
Earnings after taxes (EAT) amounted to EUR 0.4m (previous year: EUR 2.2m).

In the 2023 fiscal year, LUDWIG BECK AG generated net income of EUR 1.0m
(previous year:
EUR -0.6m). Of this amount, EUR 0.5m was allocated to other revenue reserves.
The Executive Board and Supervisory Board will propose to the Annual General
Meeting that a dividend of EUR 0.15 per share be distributed from the
remaining balance profit for the 2023 fiscal year.

Outlook

LUDWIG BECK is cautiously optimistic about the upcoming fiscal year and
continuously believes in the relevance of stationary retail. The company is
planning further investments in the flagship store at Marienplatz in 2024 to
create new, fascinating shopping worlds through new designs and new brands.
Despite challenging economic conditions, the management of LUDWIG BECK AG
expects gross sales between EUR 90m and EUR 93m and earnings before taxes (EBT)
of between EUR 0.5m and EUR 1.8m for the 2024 fiscal year.

Further information on the company and its shares can be found on the
company's website at http://kaufhaus.ludwigbeck.de.

Key Performance Indicators

     in EURm                                                 2023    2022
     Revenues (gross)                                      86.5    83.8
     Revenues (net)                                        72.7    70.4
     Earnings before interest, taxes, depreciation, and     9.9    11.3
     amortization (EBITDA)
     Earnings before interest and taxes (EBIT)              3.1     4.9
     Earnings before taxes (EBT)                            0.6     2.8
     Earnings after taxes (EAT)                             0.4     2.2
     Equity                                                65.5    65.3
     Equity Ratio in %                                     38.5    38.8
     Investments in long-term assets                        3.2     2.4
     Number of employees (average) without trainees         409     389
     Earnings per share (in EUR)                             0.12    0.60

Contact Investor Relations:
A. Deubel
t: +49 89 23691 - 745
f: +49 89 23691 - 600
ir@ludwigbeck.de


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21.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG
                   Marienplatz 11
                   80331 München
                   Germany
   Phone:          +49 (0)89 2 36 91-0
   Fax:            +49 (0)89 2 36 91-600
   E-mail:         info@ludwigbeck.de
   Internet:       www.ludwigbeck.de
   ISIN:           DE0005199905
   WKN:            519990
   Listed:         Regulated Market in Frankfurt (Prime Standard), Munich;
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Stuttgart, Tradegate Exchange
   EQS News ID:    1864429

End of News EQS News Service
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1864429 21.03.2024 CET/CEST