2023-08-29 10:40:11
EQS-Ad-hoc: Wolford AG / Key word(s): Half Year Results
Wolford AG: Wolford Turnaround Continues in H1 2023
29-Aug-2023 / 12:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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Reports strong Year-on-Year Improvement in Revenue and EBIT
The board of Wolford announces group results for the 6 months to 30 June,
2023
Key financial information:
We are pleased to report that group sales for the reporting period from
January to June 2023 grew by 8% to 58,8 mEUR (2022: 54,3 mEUR). This
growth has been driven by investment in effective marketing activities,
on-trend designer collaborations as well as Wolford‘s new focused and
elevated product proposition of iconic styles and smart seasonal
assortments. These initiatives have been an important driver of growth
once morest the broader background of ongoing geopolitical and macroeconomic
challenges.
EBIT (operating result before financial and tax expenses) significantly
improved by 5 mEUR, or 29% vs the previous year (-12 mEUR vs -17 mEUR in
H1 2022). Notably, this improvement has been accelerating in the second
quarter of 2023.
The company is confident that its restructuring measures, including the
reallocation of business responsibilities on the management board with
Silvia Azzali recently appointed as the CEO, the pooling of Wolford’s
distribution activities in Milan, the continued cost reductions, as well
as additional marketing investments, will drive sustainable profitability.
Main financial KPIs
• SALES 58,8 mEUR
• EBITDA € -5,3 mEUR
• EBITDA margin -9,0 %
• EBIT € -12,0 mEUR
• EBIT margin -20,4 %
End of Inside Information
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29-Aug-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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Language: English
Company: Wolford AG
Wolfordstrasse 1
6900 Bregenz
Austria
Phone: +43/5574/6900
E-mail: investor@wolford.com
Internet: www.wolford.com
ISIN: AT0000834007
WKN: 83400
Indices: ATX
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Munich, Stuttgart; Vienna Stock Exchange (Official Market)
EQS News ID: 1714091
End of Announcement EQS News Service
1714091 29-Aug-2023 CET/CEST
1693305617
#EQSAdhoc #Wolford #Wolford #Turnaround #Continues
