Adler posts rise in H1 EBITDA, confirms full year outlook

For the six months of fiscal year 2019, Adler said in a statement that EBITDA rose to 25.1 million euros (28 million dollars) compared to 24.1 million euros in the previous year. The company added that despite continued weakness of the textile retail trade and the planned reduction in the number of fashion stores, sales were 236 million euros (264 million dollars) compared to 243.1 million euros last year.

The company further said that liquidity rose 54.5 million euros and free cash flow in the second quarter was 38 million dollars, down about 26 percent against the comparable period last year. However, half-year free cash flow figure reached 20.6 million euros, substantially above 16.6 million euros at June 30, 2018.

Against this background, Adler confirms full-year targets for 2019. The company’s executive board continues to forecast full-year sales of slightly 500 million euros and operating EBITDA in a range between 73 million euros and 78 million euros. Including the one-off charges for the targeted site closures, the company assumes EBITDA margin between 64 million euros and 69 million euros.

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