Adler Modemärkte reports EBITDA of 20.7 million euros

Adler Modemärkte Ag has reported EBITDA of 20.7 million euros (23.4 million dollars) compared to 32 million euros (36.3 million dollars) in its preliminary results statement. The company said, it succeeded in meeting the forecast figures, which had been adjusted in November 2018, despite the persistently weak conditions on the German retail textiles market. From operating standpoint, i.e., adjusted for non-recurring items, the company added, EBITDA rose slightly from 25.4 million euros (28.8 million dollars) to 26.1 million euros.

Consolidated group-revenue amounted to 507.1 million euros (575 million dollars) as previously forecasted, 3.6 percent below the prior-year figure. Adler further said that it remains resolute in its implementation of the necessary steps to sustainably increase the group's profitability. In this context, the company will implement optimization measures in the coming years, in particular at fashion stores, which contributed negatively to earnings.

Additionally, the company said, Adler will continue to implement the conservative accounting and financing strategy going forward. Accordingly, the focus will remain on generating sustained positive free cash flows and reporting soundly positive net liquidity.

As at December 31, 2018, Adler operated 178 stores, 150 of which are located in Germany, 23 in Austria, three in Luxembourg and two in Switzerland.

Picture:Facebook/Adler Mode