Supervisory Board and Management Board of Ahlers AG adopt comprehensive set of measures to sustainably improve results in the medium term. One-time effects of approx. EUR 5 million expected in the 2017/18 annual financial statements. Probably no dividend for the current financial year.
Ahlers in Q2 2017/18: Unexpected decline in revenues also in Q2 due to cancellation of orders from Eastern European customers and weak stock sales of suits and sportswear. Total first-half revenues were down by 5.5 percent on the previous year. EBITDA fell from EUR 4.2 million to EUR 2.7 million (-36 percent). Consequently, the Management Board downgrades the revenue and earnings forecast for the full year 2017/18 and now projects declining revenues slightly above the trend of the first six months (-5.5 percent). Consolidated earnings 2017/18 are expected to come in close to break-even point from today’s point of view. Various restructuring and cost-cutting measures have been initiated.
Decline in revenues and earnings due to shift of revenues into Q2 2018 and declining own retail sales. Revenues down by 3.8 percent or EUR 2.4 million and consolidated earnings by 31 percent or EUR 0.9 million in Q1 2017/18. Forecast for full year unchanged: revenues and earnings expected to pick up.
Proposal to convert preferred shares into common shares to simplify the share structure.
Ahlers reports revenues and cash flow according to plan in FY 2016/17. Consolidated earnings after taxes come in below expectations at EUR 1.9 million due to increased expenses and lower gross profit margin. Stable dividend of EUR 0.15 per common share and EUR 0.20 per preferred share proposed.