DGAP-News: TOM TAILOR Holding AG benefits from expanding its controlled selling space and from strengthening its brand
(firmenpresse) - DGAP-News: TOM TAILOR Holding AG / Key word(s): Quarter Results
TOM TAILOR Holding AG benefits from expanding its controlled selling
space and from strengthening its brand
08.05.2012 / 07:30
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- Sales up 20% to EUR 103.6 million
- Sales in Retail segment increase by 46.7% to over EUR 40 million
- Gross profit margin rises by 2.7 percentage points to 47.5%
- Recurring EBITDA up 15% yoy to EUR 4.6 million
- Outlook for full year 2012 confirmed
Hamburg, 8 May 2012. TOM TAILOR Holding AG made strong headway on its growth
course in the first quarter 2012 and systematically strengthened the
TOM TAILOR brand. The Group increased its sales by 20% to EUR 103.6 million
(Q1 2011: EUR 86.3 million) in the reporting period and benefited in
particular from the strong performance in the Retail segment. The Wholesale
segment also made a positive contribution to the growth of the Company.
'We have had a dynamic start into the 2012 financial year and are
continuing to vigorously pursue our strategic measures. A key milestone in
the first quarter was the launch of our TV campaign: Since March, we have
been advertising the TOM TAILOR lifestyle world on television, creating
even greater awareness of our brand among our target groups. This is
because strengthening and developing our brand, as well as expanding our
controlled selling space, is a decisive success factor for further growth.
We are certain that this investment in our Company will pay off for many
years to come. We are already seeing the first immediate effects of this in
our e-commerce sales - in the first quarter of 2012, we boosted our sales
year-on-year by 60%,' said Dieter Holzer, Chief Executive Officer (CEO) of
TOM TAILOR Holding AG.
Sales in the Retail segment reached EUR 40.2 million in the first quarter
of 2012 (Q1 2011: EUR 27.4 million). This rise of 46.7% reflects the
continuous expansion of the store network as well as growth on a
like-for-like basis. TOM TAILOR increased its number of Retail stores to
258 (31.03.2011: 173). The Group opened 10 new stores in the first quarter.
Sales in TOM TAILOR's e-commerce jumped by 60% to EUR 7.0 million compared
to the prior-year quarter (Q1 2011: EUR 4.4 million). On a like-for-like
basis, sales in the segment went up by a significant 18.2%. TOM TAILOR has
therefore again outperformed the textile industry at large. The German
textile sector finished the first quarter of 2012 only with a marginal 1%
increase in sales (source: TW Testclub 14/2012). The Retail segment
accounted for 38.8% of overall sales in the first quarter, up from 31.7% in
the same period last year.
In the Wholesale segment, which comprises franchise stores and
shop-in-shops, TOM TAILOR grew its sales by 7.6% to EUR 63.4 million (Q1
2011: EUR 58.9 million). The growth was attributable to three factors in
particular: positive demand from trading partners, the improved consumption
climate in Eastern European sales markets and the expansion of controlled
selling space. TOM TAILOR increased the number of shop-in-shops by 81 to
1,867 and franchise stores by 2 to 157 in the first quarter.
Cost of materials went up by 14.3% year-on-year and essentially reflect the
dynamic business expansion and the rise in sales. The gross profit margin
improved by 2.7 percentage points to 47.5%.TOM TAILOR benefited
particularly from the normalisation of procurement cost, economies of scale
in purchasing and the higher retail share.
Recurring earnings before interest, taxes, depreciation and amortisation
(EBITDA) amounted to EUR 4.6 million (Q1 2011: EUR 4.0 million) and were
15% above last year's figure. Reported EBITDA amounted to EUR 1.2 million.
The decrease compared to the prior-year-result (Q1 2011: EUR 4.0 million)
was primarily due to two factors: the marketing expenses for producing and
broadcasting the TV advertisement (EUR 1.6 million) and one-off costs
relating to the refinancing carried out in February (EUR 3.1 million).
The financial result amounted to EUR -1.6 million after EUR -0.1 million in
Q1 2011. Fair value interest income of EUR 1.4 million had a positive
impact last year. Adjusted for this effect, the financial result in the
reporting period was at the same level as last year.
Earnings after taxes, adjusted for the refinancing costs, came in at EUR
-2.0 million (Q1 2011: EUR -0.7 million) and reflect the marketing expenses
for the TV campaign as well as higher start-up costs for the further
expansion of the retail business. Recurring earnings per share amounted to
EUR -0.12 (Q1 2011: EUR -0.04). Reported earnings after taxes totalled EUR
-5.2 million (Q1 2011: EUR -1.9 million).
Cash outflow from operating activities amounted to EUR -19.2 million (Q1
2011: EUR 10.5 million). The year-on-year drop was also caused by the
refinancing costs and marketing expenses. In addition to this, the
postponement of trade payables had an impact.
Despite the continuing economic uncertainty, TOM TAILOR is confident about
the 2012 financial year. Following its successful performance in the first
quarter, the Group has reiterated its targets. TOM TAILOR is aiming to
achieve sales in excess of EUR 470 million and a recurring EBITDA between
EUR 51 and 53 million in 2012. The Group will also continue to drive the
expansion of its controlled selling space, both in Germany and abroad. TOM
TAILOR is planning to open 60 to 70 new retail stores, 200 to 250
shop-in-shops and 20 to 25 franchise stores in 2012.
KEY FIGURES FOR THE GROUP Q1 Q1
EUR million 2012 2011 Change
Sales 103.6 86.3 20.0%
Retail 40.2 27.4 46.7%
Wholesale 63.4 58.9 7.6%
Gross profit 49.2 38.7 27.1%
Gross profit margin (in %) 47.5 44.8 -
Recurring EBITDA 4.6 4.0 15.0%
Recurring EBITDA margin (in %) 4.4 4.6
EBITDA 1.2 4.0 -70.0%
EBITDA margin (in %) 1.2 4.6 -
One-off items 4.5 1.7 164.7%
thereof expenses for refinancing 3.1 0
thereof depreciation on the purchase price
allocation (PPA) from 2005 1.2 1.7
Recurring net result for the period -2.0 -0.7 -185.7%
Recurring earnings per share (in EUR) -0.12 -0.04 -200.0%
One-off items including deferred taxes 3.2 1.2 166.7%
thereof depreciation on the purchase price
allocation (PPA) from 2005 0.8 1.2
Net result for the period -5.2 -1.9 -173.7%
Earnings per share (in EUR) -0.29 -0.11 -163.6%
Cash flow from operating activities -19.2 -10.5 -82.9%
Capital expenditure 4.6 5.2 -11.5%
31.03.2012 31.12.2011
Balance sheet total 322.3 320.5 0.6%
Equity 106.6 113.7 -6.2%
Equity ratio (in %) 33.1 35.5
Cash and cash equivalents 9.1 9.3 -2.2%
Net debt 102.8 74.6 37.8%
Own controlled points of sale 31.03.2012 31.12.2011 Absolute changeAbout TOM TAILOR
Retail stores 258 248 +10
Franchise stores 157 155 +2
Shop-in-shops 1,867 1,786 +81
TOM TAILOR - Casual fashion for a casual life!
The TOM TAILOR Group is an international and vertically integrated
lifestyle company. It offers stylish casual wear and accessories for men,
women, teenagers and children in the medium price range. Since the
Company's foundation in 1962, its authentic products are hallmarks of a
positive and light-hearted attitude towards life. Every year 12 collections
are developed for each of the product lines TOM TAILOR Casual and TOM
TAILOR Denim. The fashion sphere is completed by a wide range of licences.
The Group distributes its collections via the wholesale and retail
segments. TOM TAILOR is a dynamic company that consistently grows and
expands. At the end of March 2012, TOM TAILOR was represented in more than
35 countries by 258 dedicated stores, the TOM TAILOR e-shop, 157 franchise
stores, 1,867 shop-in-shops, and around 6,300 multi-label points of sale.
The TOM TAILOR Group generated sales of EUR 103.6 million in Q1 2012 (Q1
2011: EUR 86.3 million). The Company employs 1,626 people worldwide (as of
March 31, 2012).
Press and investor contact
Dr. Andrea Rolvering
Head of Investor Relations&Corporate Communications
TOM TAILOR Holding AG
Phone.: +49 (0) 40 58956-429
Fax: +49 (0) 40 58956-498
Email: anr(at)tom-tailor.com
Erika Kirsten
Corporate Communications
TOM TAILOR GmbH
Phone.: +49 (0) 40 58956-420
Fax: +49 (0) 40 58956-498
Email: ek(at)tom-tailor.com
Information also available at www.tom-tailor.com.
End of Corporate News
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Language: English
Company: TOM TAILOR Holding AG
Garstedter Weg 14
22453 Hamburg
Germany
Phone: +49 (0) 40 589 56 0
Fax: +49 (0) 40 589 56 398
E-mail: info(at)tom-tailor.com
Internet: www.tom-tailor.com
ISIN: DE000A0STST2
WKN: A0STST
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart
End of News DGAP News-Service
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