Leifheit Aktiengesellschaft: Distortions of the global supply chain affects EBIT in the third quarter, earnings (EBIT) forecast adjusted to EUR 15 to 20 million

Leifheit Aktiengesellschaft: Distortions of the global supply chain affects EBIT in the third quarter, earnings (EBIT) forecast adjusted to EUR 15 to 20 million

Nassau, 13 October 2021 - According to today's preliminary calculations Leifheit AG (ISIN DE0006464506) expects Group earnings before interest and taxes (EBIT) in the third quarter of the financial year 2021 of EUR 3.0 million (Q3 2020: EUR 6.6 million). After the first nine months of business year 2021 EBIT reached EUR 16.6 million, an increase of about 8 % compared to the previous year's figure of EUR 15.4 million.

Based on preliminary figures, the Leifheit Group reached a turnover of EUR 69.7 million in the third quarter 2021 (Q3 2020: EUR 71.6 million). In the first nine months of business year 2021 the Group achieved a turnover growth of 11.9 % to EUR 226 million (Q1-Q3 2020: EUR 201,9 million).

Further increases in raw material prices in the last few weeks as well as the low availability of cargo space and the associated cost increases and delivery bottlenecks affected the business development in the third quarter. The distortions in global supply chains will remain a challenge for the coming months. At the same time, necessary sales price increases can only be passed on to the market with a time lag and thus only have a partial effect in the current financial year.

Based on the preliminary figures for the third quarter the Management Board has reassessed the expectations for the Business year 2021. The Board of Management now assumes Group earnings before interest and taxes (EBIT) of between EUR 15 million and EUR 20 million. So far, an EBIT of EUR 20 million to EUR 24 million was expected. The turnover forecast remains unchanged, an increase of Group turnover of at least 5 % year-on-year is expected.

Information on the development in the third quarter is based on preliminary calculations. The final financial figures will be published in the quarterly statement on 11 November 2021.