Leifheit AG: Q1: growth in turnover in all segments

Leifheit AG  / Key word(s): Quarter Results12.05.2011 08:33Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------- Group turnover improved from EUR 56 million to EUR 59 million - Currency effects impact results- Forecast confirmed: further growth in 2011 annual resultsNassau, 12 May 2011 - Leifheit AG presents its report today on the firstquarter of 2011. With an increase of about 5 % the Group again achievedsignificant growth in turnover, although currency effects impactedconsolidated results.Leifheit grew its global turnover from EUR 56 million in Q1 2010 to EUR 59million, with domestic share rising from 45% to 47%. Gross margin improvedto 42.9 % (Q1/2010: 42.0 %).EBIT was EUR 1.5 million (Q1/2010: EUR 2.9 million). The decrease isprimarily due to unrealised currency effects from the measurement offorward foreign exchange contracts which resulted in a loss of EUR 0.6million; in 2010 the same effects contributed EUR 0.5 million to EBIT.EBT amounted to EUR 1.1 million (Q1/2010: EUR 2.5 million), with resultsfor the period after tax of EUR 0.6 million. Q1/2010 net results after taxfor continuing operations amounted to EUR 1.8 million; the Group incomestatement also benefited from the contribution to results of EUR 1.3million by the sold Bathroom Furnishings division, so that the results forQ1/2010 totalled EUR 3.1 million.Brand Business and Volume Business growing rapidlyAs a manufacturer concentrating exclusively on household products, Leifheitdivides its business into the segments 'Brand Business' (Leifheit, DrOetker Bakeware, and Soehnle) and 'Volume Business' (Birambeau, Herby andProject Business).Brand Business again reports growthThe Leifheit, Dr Oetker Bakeware and Soehnle brands increased turnover by3% to EUR 47 million (Q1/2010: EUR 46 million). Growth in the BrandBusiness again came from the German market, where turnover rose to EUR 26million (Q1/2010: EUR 24 million). Foreign business continues to reflectthe prevailing local economic conditions. Cleaning products continue to bea reliable growth engine in the Brand Business segment, with 9% growth.The contribution to consolidated operating EBIT (adjusted for the effectsof forward foreign exchange contracts) was unchanged from the previous yearat EUR 1.3 million. Higher distribution costs and foreign exchange lossesmore than offset the positive trend in margins in Brand Business. Volume Business on the growth trackVolume Business increased turnover to EUR 12 million (Q1/2010: EUR 10million), an increase of 12%. This is primarily due to business withkitchen goods in the medium price bracket, which showed very high growth,and laundry care also made a significant contribution.Volume Business contributed EUR 0.8 million (Q1/2010: EUR 1.1 million) toadjusted operating EBIT, reflecting the impact of higher purchasing prices.EBIT in the previous year also benefitted from one-time government aid inFrance totalling EUR 0.2 million.Outlook for 2011: strong growth at all levelsWith its growth in turnover of 5% in Q1/2011, Leifheit has proved that thecompany can follow through on its growth predictions. Now, it is importantto utilise further potential in both Brand and Volume Business. The newbrand and marketing strategies currently being developed will make a majorcontribution to this.By year-end Leifheit expects turnover to lay 3-5% above the 2010 level.However, sharp increases in commodity prices and negative currency effectscould significantly reduce the resulting growth in earnings. Assuming amoderate increase in commodity prices, management believes it will be ableto report further growth in results, adjusted for currency effects.Additional information is available in the quarterly report for the periodending 31 March 2011, and at http://www.leifheit.de/en/investor-relations.html.Contact:Leifheit AGD-56377 +49 2604 97721812.05.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      Leifheit AG              Leifheitstraße              56377 Nassau              DeutschlandPhone:        02604 977-0Fax:          02604 977-340E-mail:       :     www.leifheit.comISIN:         DE0006464506WKN:          646450Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------