ADLER MODEMÄRKTE AG €151.8 million in the second quarter. EBITDA declined from €4.5 million to €0.7 million in the first half of the year, although the figure of €17.3 million in the second quarter nevertheless signalled a return to roughly the prior-year level. In response, ADLER has already launched a wide range of measures to increase efficiency. These will result in substantial cost savings as the year progresses.
In light of its performance in the first half of the year and what continues to be a challenging market environment, ADLER is adjusting the forecast for full-year 2016, as given in the 2015 Annual Report. Since the forecast calls for consolidated revenue to be at no more than the prior-year level in the second half of 2016, full-year revenue is expected to fall short of the prior-year figure of approximately €566 million. The new marketing campaign to be launched in September is expected to boost operating performance in the fourth quarter. EBITDA should amount to between €27 million and €30 million. ADLER therefore continues to aim for significant after-tax earnings and considerable positive free cash flow in 2016.
Contact Adler Modemärkte AG:Adler Modemärkte AG Investor Relations
Tel.: +49 6021 633 1828
Fax: +49 6021 633 1417
E-mail: investorrelations@adler.de
Adler Modemärkte AG published this content on 02 August 2016 and is solely responsible for the information contained herein.
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