17.03.2019, 1690 Zeichen

Wolford: Skinwear-Producer Wolford AG, which is listed on the Vienna Stock Exchange, generated revenue of Euro 108.2 mn in the first nine months of the current financial year, comprising a decline of 9.4% when compared to the same period in prior year (Euro 119.4 mn). A large share of the revenue decrease amounting to Euro 11.2 mn could be compensated on the earnings level thanks to the Company’s initial success in substantially reducing ongoing costs. As a result, operating earnings only deteriorated by close to Euro 1 mn from the same period in prior year. EBIT in the first nine months of 2018/19 financial year amounted to Euro -2.3 mn, compared to Euro -1.4 mn of the same period in prior year. However, as the consequence of tax payments in arrears, earnings after tax totaled Euro -4,2 mn for the first nine months of 2018/19 financial year, down from Euro -2.6 mn of the same period in prior year. The Management Board anticipates a loss in the current financial year in spite of the positive cost-optimization effects generated by the restructuring programme implemented to date. Against the background of ongoing market weakness, the Management Board also announced the initiation of further comprehensive restructuring measures at the end of February 2019 in order to bring the cost structure in line with current revenue level. The identified savings potential clearly exceeds Euro 10 min. With this in mind, the Management Board plans for the company to return to profitability (positive operating earnings) no later than in 2020/21 financial year.
Wolford: weekly performance: 3.48%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (15/03/2019)

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