Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG: LUDWIG BECK AG: Sale of gentleman's fashion chain WORMLAND and adjustment of forecast for fiscal year 2019
Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG, DE0005199905
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LUDWIG BECK am Rathauseck - Textilhaus Feldmeier AG - Securities Identification Number 519 990 -
LUDWIG BECK AG: Sale of gentleman's fashion chain WORMLAND and adjustment of forecast for fiscal year 2019Munich, April 15, 2019: The sale process initiated by LUDWIG BECK AG on January 31, 2019 to sell the 100% interest held by LUDWIG BECK Unternehmensverwaltungs GmbH in Theo Wormland GmbH & Co. KG ("WORMLAND") led to the conclusion of a corresponding purchase agreement today. The buyer is WL Erwerbs GmbH, which is held by a team of WORMLAND managers. The seller will transfer the company free from bank liabilities and making an additional payment of approx. EUR 7.5m on-top. At the same time, the buyer agreed to provide an equity injection of approx. EUR 0.5m.
The sale of WORMLAND changes LUDWIG BECK's forecast for the 2019 fiscal year. The closing date of the purchase agreement is planned for April 30, 2019, 24:00 hours. For 2019, LUDWIG BECK now expects revenue at Group level between EUR 114m and EUR 119m (previously: between EUR 165m and EUR 170m) and EBT (earnings before taxes) between EUR -12 m and EUR -13m (previously: between EUR 1.5m and EUR 2.5m). On the level of the single-entity financial statements, LUDWIG BECK now expects a net loss for the year 2019 amounting to EUR -10m to EUR -11m. As the 2019 profit available for distribution of LUDWIG BECK AG is therefore now expected to be EUR 0, a dividend for the 2019 fiscal year can no longer be expected.
Ludwig Beck am Rathauseck-Textilhaus Feldmeier Aktiengesellschaft, Marienplatz 11, 80331 Munich
Investor Relations contact: esVedra consulting GmbH Metis Tarta t: +49 89 206021-210 f: +49 89 206021-610 firstname.lastname@example.orgGroup Accounting contact: LUDWIG BECK AG Jens Schott t: +49 89 23691-798 f: +49 89 23691-600 email@example.com
15-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: 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: firstname.lastname@example.org 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: 800207 End of Announcement DGAP News Service
800207 15-Apr-2019 CET/CEST