Leifheit Aktiengesellschaft: Q2 and first half 2022 preliminary earnings before interest and taxes (EBIT) significantly down on previous year, earnings and turnover forecast for FY 2022 adjusted

Leifheit Aktiengesellschaft: Q2 and first half 2022 preliminary earnings before interest and taxes (EBIT) significantly down on previous year, earnings and turnover forecast for FY 2022 adjusted

Nassau (Germany), 14 July 2022 - Leifheit AG (ISIN DE0006464506) publishes preliminary figures for the second quarter and the first half of the 2022 financial year. The Groups earnings development continues to be burdened by sharply rising material, freight and energy costs and ongoing bottlenecks in the procurement markets. At the same time, rising inflation and uncertainties against the background of the Russia-Ukraine war are leading to a significant consumer restraint.

According to today’s preliminary calculations the Leifheit Group reached earnings before interest and taxes (EBIT) of EUR ­­-0.5 million in the second quarter of 2022 (Q2 2021: EUR 5.3 million). In the first half of 2022 the Group thus achieved EBIT of EUR 2.1 million. This corresponds to a decrease by EUR 11.5 million compared to the previous year's figure (H1 2021: EUR 13.6 million). Group EBIT was significantly affected by the decline in gross profit. Sales price increases and a strict cost management only partially compensated for the enormously increased costs on the procurement side.

In the first half of the 2022 financial year the Leifheit Group generated turnover of EUR 136.3 million. Group turnover thus was 12.5% down on the exceptionally strong previous-year period (H1 2021: EUR 155.8 million). Turnover in the second quarter stood at EUR 64.5 million, 7.7% below the previous year’s figure (Q2 2021: EUR 69.9 million).

Based on the preliminary figures of the first half year 2022 and the current economic conditions the Management Board has reassessed the expectations for the full year 2022 today. After Group EBIT was expected to be significantly below the previous year’s figure (2021: EUR 20.1 million) so far, now the Management Board assumes EBIT to reach a lower single-digit million Euro range in the financial year 2022.

The Management Board now expects a strong, but likely still in a single-digit percentage range decline in turnover compared to the previous year’s figure (2021: EUR 288.3 million) in the 2022 financial year. Previously only a slight sales decline compared to the previous year was expected.

The information on the development in the second quarter 2022 and in the first half of 2022 is based on preliminary calculations. Therefore, there may be deviations from this information in the figures that will be published in the quarterly statement on August 9, 2022.