DGAP-Adhoc: Adler Modemärkte AG: Earnings Exceed Own Forecasts, in Part Significantly
DGAP-Ad-hoc: Adler Modemärkte AG / Key word(s): Preliminary Results Inside information pursuant to Art. 17 MAR from Adler Modemärkte AG In financial year 2019, ADLER continued to improve upon its healthy balance sheet and its cash flow in particular. As at 31 December, cash and cash equivalents reached approximately €70 million, up significantly from €54.9 million in the previous year. Free cash flow improved substantially due to the increase in earnings and efficient working capital management. Information and Explanation of the Issuer to this News: ADLER thus has a very sound financial foundation, enabling it to finance ongoing and planned initiatives to boost future growth and sustainably increase profitability on its own. In 2020, the Company will focus on profitable locations as it systematically continues to optimise its network of stores. In 2019, the Company closed a total of eight locations and opened two new stores in Austria. Furthermore, the Company obtained significantly better lease terms and conditions at certain locations by successfully renegotiating the lease agreements. 'We made significant headway in improving our profitability in 2019 and even surpassed our own forecasts. The very good liquidity and our free cash flow are unmatched in the industry. We are therefore confident that we will continue to hold our own in 2020 despite the persistently difficult environment', said Thomas Freude, CEO of Adler Modemärkte AG, describing the development. ADLER will publish its annual report for 2019 and the outlook for 2020 on 12 March 2020.
04-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Adler Modemärkte AG |
Industriestraße Ost 1-7 | |
63808 Haibach | |
Germany | |
Phone: | +49 (0) 6021 633 0 |
Fax: | +49 (0) 6021 633 1299 |
E-mail: | [email protected] |
Internet: | www.adlermode.com |
ISIN: | DE000A1H8MU2 |
WKN: | A1H8MU |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 967107 |
End of Announcement | DGAP News Service |
|
967107 04-Feb-2020 CET/CEST