LUDWIG BECK - In a successful start to 2024, LUDWIG BECK further increases
sales and operating earnings compared to the same period of the previous year

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s):
Quarterly / Interim Statement
LUDWIG BECK - In a successful start to 2024, LUDWIG BECK further increases
sales and operating earnings compared to the same period of the previous
year

18.04.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

CORPORATE QUARTERLY STATEMENT

For the first quarter of the fiscal year 2024

For the period from January 1 to March 31, 2024

LUDWIG BECK - In a successful start to 2024, LUDWIG BECK further increases
sales and operating earnings compared to the same period of the previous
year

München, April 18, 2024 - The Munich-based fashion group LUDWIG BECK (ISIN
DE 0005199905) ended the first quarter of 2024 with a significant increase
in sales of around 6% compared to the same period of the previous year, even
though the Group closed the first quarter of the previous year with a plus
of almost 20% compared to the 2022 financial year.

Economic environment and development in the retail industry

The year started as the previous one ended-with companies operating in the
German fashion industry filing for insolvency. This affects retailers and
manufacturers as well as owners and developers of retail property. These
continued insolvencies indicate that the industry continues to face
significant challenges, including due to ongoing economic uncertainties or
structural changes in consumer behaviour.

Due to black ice, farmers' and railway strikes in January, the new year got
off to a rather sluggish start for brick-and-mortar fashion retailers. In
the first two months of the year, bricks-and-mortar fashion retailers only
recorded moderate growth of 1% in each month. However, interest in fashion
gained momentum in March thanks to new collections, events, and the
spring-like weather. The fall in inflation also contributed to the
improvement in consumer sentiment, which benefited bricks-and-mortar fashion
retailers. Although the industry's year-on-year figures were very high with
an increase of 16%, the first quarter of 2024 closed with industry growth of
4%.

GENERAL PRESENTATION OF FIGURES IN THE INTERIM STATEMENT

All sums and figures in the text and tables were calculated precisely and
then rounded to
EUR million. The percentages in the text and tables were calculated using the
exact (not rounded) values.

CONSOLIDATED EARNINGS SITUATION

Development of sales

In the first three months of the fiscal year 2024, the LUDWIG BECK Group
generated gross sales of EUR 18.7m (previous year: EUR 17.7m). With an increase
in sales of just under 6%, LUDWIG BECK's sales growth was above the industry
average of 4%. Sales in the 'textile' segment amounted to EUR 14.2m (previous
year: EUR 12.7m) and in the 'non-textile' segment to EUR 4.5m (previous year: EUR
4.9m). In the online segment, LUDWIG BECK increased its sales in fashion
compared with the year earlier. However, revenues declined slightly in the
beauty segment.

Profitability of the Group

Gross profit improved with sales development from EUR 6.8m in absolute terms
to EUR 7.0m. Due to higher sales of reduced autumn/winter merchandise, the net
gross profit margin declined from 45.6% to 44.7%.

Operating expenses netted against operating income in the first quarter
totalled EUR 8.0m (previous year: EUR 7.9m).

The operating result (EBIT) improved slightly to EUR -0.9m from EUR -1.2m.

Due to higher interest rates, the financial result declined from EUR -0.6m in
the previous year to EUR -0.8m in this year's quarter. As in the previous
year, earnings before taxes (EBT) totalled EUR -1.7m.

Earnings after taxes (EAT) were EUR -1.1m, as in the previous year.

CAPITAL STRUCTURE

Balance sheet structure

Total assets of the LUDWIG BECK Group as of March 31, 2024, amounted to EUR
170.3m (December 31, 2023: EUR 169.8m).

As in the previous year, the main components of long-term assets were the
rights of use for rental agreements (EUR 59.1m) and the property at Munich's
Marienplatz (EUR 69.8m). Long-term assets totalled EUR 153.2m as of March 31,
2024 (December 31, 2023: EUR 153.8m).

Short-term assets amounted to EUR 17.1m (December 31, 2023: EUR 16.0m).
Inventories included in this figure increased from EUR 12.4m to EUR 13.6m due to
seasonal factors.

Cash and cash equivalents amounted to EUR 0.5m (December 31, 2023: EUR 0.5m).

FINANCIAL POSITION

Balance sheet structure

As of March 31, 2024, the LUDWIG BECK Group had equity capital of EUR 64.3m
(December 31, 2023: EUR 65.5m). The equity ratio was 37.7% (December 31, 2023:
38.5%).

Long-term liabilities increased from EUR 71.2m as of December 31, 2023, to EUR
79.5m, mainly due to taking out two long-term loans in the amount of EUR 10.0m
in March of the current fiscal year. The Group took out these loans to
optimise its financing structure. Thus, the more expensive short-term
overdraft utilisation was reduced with the help of lower-interest loans.

Short-term liabilities fell accordingly from EUR 33.2m as of December 31,
2023, to EUR 26.5m at the end of March 2024, with the financing of the
seasonally higher inventory and the negative result for the first quarter
having the opposite effect.

In total, the Group's liabilities amounted to EUR 106.0m as of the reporting
date of March 31, 2024 (December 31, 2023: EUR 104.4m).

Cash flow

The cash flow from operating activities after the first three months of 2024
was EUR -1.6m (previous year: EUR -2.2m). The cash flow from investing
activities in the same period was
EUR -0.4m (previous year: EUR -1.3m). Cash flow from financing activities was EUR
2.1m (previous year: EUR 3.4m).

EMPLOYEES

The number of employees (pursuant to Section 267 (5) HGB) in the first three
months of the fiscal year 2024 (excluding trainees) was 388 (previous year:
393). As of March 31, 2024, the LUDWIG BECK Group employed 37 trainees
(previous year: 37).

FORECAST REPORT

General economic conditions, development in retail, and at LUDWIG BECK

Moderate growth in the global economy is expected for the current year. The
International Monetary Fund (IMF) is forecasting global economic growth of
2.9%, while the Organisation for Economic Co-operation and Development
(OECD) is predicting 2.7% and the European Central Bank (ECB) 3.0%. Despite
this positive outlook, geopolitical tensions and a restrictive international
monetary policy characterised by high key interest rates will hamper global
economic growth and lead to slower development. The forecasts for 2024 are
subject to considerable uncertainty, particularly with regard to issues such
as war, economic concerns, artificial intelligence (AI), and climate change,
which will impact the global economy.

LUDWIG BECK is satisfied with the development of the first quarter and
remains cautiously optimistic for the current fiscal year. The company plans
to continue investing in the department stores on Marienplatz in order to
create fascinating shopping experiences through remodelling and the
introduction of new brands. Despite the challenging economic conditions, the
management of LUDWIG BECK AG expects gross merchandise sales of 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.

GROUP KEY FIGURES

   in EURm                                                 01/01/-    01/01/-
                                                            2024       2023
                                                               -          -
                                                         03/31/-    03/31/-
                                                            2024       2023
   PROFIT AND LOSS ACCOUNT
   Sales (gross)                                            18.7       17.7
   Value Added Tax                                          -3.0       -2.8
   Sales (net)                                              15.7       14.9
   Gross profit                                              7.0        6.8
   Earnings before interest, taxes, depreciation, and        0.7        0.5
   amortisation (EBITDA)
   Earnings before interest and taxes (EBIT)                -0.9       -1.2
   Earnings before taxes (EBT)                              -1.7       -1.7
   Earnings after taxes (EAT)                               -1.1       -1.1

   CASH FLOW
   Cash flow from operating activities                      -1.6       -2.2
   Cash flow from investing activities                      -0.4       -1.3
   Cash flow from financing activities                       2.1        3.4

   EMPLOYEES
   Number of employees (average, excluding                   388        393
   apprentices)
   Number of apprentices (average)                            37         37
   Personnel expenses (in EURm)                                3.9        4.0

   SHARE
   Number of shares (in m)                                  3.70       3.70
   Earnings per share, undiluted and diluted (in EUR)        -0.30      -0.29

BALANCE SHEET

                               03/31/2024    12/31/2023
     BALANCE SHEET
     Long-term assets               153.2         153.8
     Short-term assets               17.1          16.0
     Equity                          64.3          65.5
     Long-term liabilities           79.5          71.2
     Short-term liabilities          26.5          33.2
     Balance sheet total            170.3         169.8
     Investments                     -0.4          -3.2
     Equity ratio (in %)             37.7          38.5

SEGMENT REPORTING

                              Text-        Non-tex-        Grou-
                               ile           tile            p
                          m EUR    %     m EUR     %       m EUR    %

  Gross sales                   14.2  119.0       4.5  119.0   18.7  119.0
  Previous year                 12.7  119.0       4.9  119.0   17.7  119.0

  VAT                           -2.3   19.0      -0.7   19.0   -3.0   19.0
  Previous year                 -2.0   19.0      -0.7   19.0   -2.8   19.0

  Net sales                     12.0  100.0       3.8  100.0   15.8  100.0
  Previous year                 10.7  100.0       4.2  100.0   14.9  100.0

  Cost of sales*                -6.8   56.9      -2.1   57.1   -9.0   57.0
  Previous year                 -6.0   56.2      -2.4   56.7   -8.4   56.4

  Gross profit                   5.2   43.1       1.6   42.9    6.8   43.0
  Previous year                  4.7   43.8       1.8   43.3    6.5   43.6

  Personnel expenses of sales   -1.0    8.8      -0.7   17.8   -1.7   10.9
  Previous year                 -1.1   10.2      -0.7   17.6   -1.8   12.2

  Calculatory occupancy costs   -2.4   20.5      -0.5   14.4   -3.0   19.0
  Previous year                 -2.4   22.2      -0.5   12.9   -2.9   19.6

  Calculatory interests         -0.2    1.7      -0.1    2.7   -0.3    1.9
  Previous year                 -0.2    1.7      -0.1    2.5   -0.3    1.9

  Segment result                 1.5   12.2       0.3    8.0    1.8   11.2
  Previous year                  1.0    9.6       0.4   10.4    1.5    9.9

  * excluding discounts,
  rebates, etc. on cost of
  sales

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


---------------------------------------------------------------------------

18.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   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:    1883023

End of News EQS News Service
---------------------------------------------------------------------------

1883023 18.04.2024 CET/CEST