wolford ag (WOL) Snapshot

Wolford Aktiengesellschaft announced that the company's Board will propose to the Annual General Meeting to suspend the dividend payment for the 2012/13 fiscal year and to focus the financial resources on profitable growth. The company's Board decided to shut down loss-making stores in Europe and the USA and external warehouses, and to destroy old merchandise.

Wolford Aktiengesellschaft announced preliminary earnings results for the year ended April 30, 2013. The company generated total revenues of EUR 156.5 million, a rise of 1.6% or EUR 2.4 million, but incurred a decline in EBITDA of 48% to EUR 7.9 million, and a slightly negative EBIT of EUR 0.9 million. However, the consistent optimization of working capital enabled the company to generate a positive cash flow from operating activities of EUR 6.3 million and a positive free cash flow of EUR 0.5 million.

Wolford Aktiengesellschaft reported earnings results for the nine months ended January 31, 2013. For the nine months, the company reported revenues of EUR 124.13 million compared to EUR 121.13 million a year ago. EBITDA was EUR 9.79 million compared to EUR 15.57 million a year ago. EBIT was EUR 3.65 million compared to EUR 9.66 million a year ago. Earnings before tax was EUR 2.79 million compared to EUR 8.35 million a year ago. Earnings after tax was EUR 2.48 million compared to EUR 7.06 million a year ago. Earnings per share were EUR 0.51 compared to EUR 1.44 a year ago. Capital expenditure was EUR 4.22 million compared to EUR 6.25 million a year ago. Free cash flow was EUR 1.00 million compared to EUR 1.36 million negative a year ago. Net debt was EUR 16.44 million compared to EUR 17.15 million a year ago. The company provided earnings guidance for the year 2013. For the year, the company expects slight sales growth in the 2012/13 fiscal year as well as positive operating results. However, earnings will be significantly below the prior-year level. The measures initiated to strengthening distribution channels and the intense monitoring of all cost items in the Group should safeguard the company's market position in the long-term and improve its competitiveness.