Adler expects to report Q2 EBITDA of 17.9 million euros

Adler Modemärkte AG has announced that the company achieved its projected earnings turnaround in the second quarter of the 2018 financial year. According to the preliminary figures, the company expects to report 17.9 million euros (20.8 million dollars) in EBITDA including the non-recurring negative effect of 0.8 million euros (0.9 million dollars). Quarterly revenue in the months of April through June amounted to 140.4 million euros (163 million dollars), down 3 percent year on year.

The cumulative consolidated revenue for the first half of 2018, the company added, amounted to 243.1 million euros (282.5 million dollars) against 254 million euros (295 million dollars) in the first half of 2017 and cumulative EBITDA was 0.03 million euros (0.035 million dollars). Adler further said that the gross profit margin, which reflects the operational improvements and efficiency enhancements achieved by the company, rose from 52.9 percent to 54.3 percent in six months.

Confirming the full-year outlook, Adler's executive board expects the industry environment to remain difficult in the textiles retail sector, and it expects full-year revenue to remain roughly at the same level as in the previous year at 525.8 million euros (610.9 million dollars). EBITDA is expected to exceed the adjusted 2017 figure of 25.4 million euros (29.5 million dollars) and amount to between 26 million euros and 29 million euros (30 to 33.7 million dollars).

Picture:Adler press centre