PRESS RELEASE
from Wolford AG (isin : AT0000834007)
EQS-Adhoc: Wolford AG: Wolford Turnaround Continues in H1 2023
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.
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 against 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
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 against 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
29-Aug-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com
| 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