Leifheit AG: First quarter of 2012 with strong growth in earnings

Leifheit AG  / Key word(s): Quarter Results

10.05.2012 08:27

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* Group turnover up 1.3% to EUR 59.4 million 
* Strong turnover growth in Brand Business of 4.6% to EUR 49.4 million 
* Group EBIT increases from EUR 1.5 million to EUR 2.8 million 
* Earnings outlook for 2012 confirmed

The Leifheit Group, one of the leading European brand suppliers of household
items, has generated turnover of EUR 59.4 million in the first quarter of
2012 after EUR 58.7 million in the same quarter of the previous year. The
Brand Business division again posted solid growth in the first quarter.
Turnover with the Leifheit, Dr Oetker Bakeware and Soehnle brands increased
by 4.6% to EUR 49.4 million. In line with strategy, the share of Brand
Business therefore rose to 83.2% of consolidated turnover. In Volume
Business, turnover decreased by EUR 1.5 million to EUR 10.0 million as a
result of shifts within Project Business.

Germany accounted for 45.3% of consolidated turnover, Europe not including
Germany 49.8% and the overseas region 4.9%. The foreign share thus increased
slightly to 54.7% after 53.3% in the previous year.

Strong rise in earnings

Leifheit again generated a strong rise in earnings in proportion to
turnover: Consolidated EBIT climbed by 83.4% to EUR 2.8 million in the first
quarter of 2012 (previous year: EUR 1.5 million). This impressive growth is
due to several factors: successful optimisation measures on the one hand and
a strict focus on high-margin business on the other. In addition, unrealised
currency effects from the measurement of forward foreign exchange contracts
totalling EUR 0.6 million had a negative impact on EBIT in the same period
of the previous year. Adjusted by this effect, the comparable figure for the
previous year was EUR 2.1 million, the comparable earnings growth was 33.4%.
The profit for the period increased by EUR 1.2 million to EUR 1.8 million
(previous year: EUR 0.6 million).

Positive outlook 

The performance in 2012 is dependent on the further effects of the sovereign
debt crisis on our sales markets, as they indirectly affect consumer
behaviour. If the effects in our main sales markets are moderate and the US
dollar is down just slightly year-on-year, Leifheit's Board of Management is
forecasting average sustainable turnover growth of 3% to 5% for both 2012
and 2013 and above-average increase in adjusted EBIT of at least 10% for
each year. Growth is planned in Brand Business only, while development in
Volume Business is expected to remain constant at most.

Additional information can be found in the quarterly financial report as at
31 March 2012 and at
http://www.leifheit.de/en/investor-relations/publications/financial-reports
.html.


Contact:
Leifheit AG
D-56377 Nassau
ir@leifheit.com
+49 2604 977218


10.05.2012 DGAP's Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Leifheit AG
              Leifheitstraße
              56377 Nassau
              Germany
Phone:        02604 977-0
Fax:          02604 977-340
E-mail:       ir@leifheit.com
Internet:     www.leifheit.com
ISIN:         DE0006464506
WKN:          646450
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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