DGAP-Adhoc: Adler Modemärkte AG: Impacts of COVID-19

2020. március 18., szerda, 18:42

DGAP-Ad-hoc: Adler Modemärkte AG / Key word(s): Change in Forecast/Forecast

Adler Modemärkte AG: Impacts of COVID-19

18-March-2020 / 18:42 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Inside information pursuant to Art. 17 MAR from Adler Modemärkte AG

Impacts of COVID-19

Withdrawal of the forecast for the financial year 2020 necessary

Haibach (near Aschaffenburg), 18 March 2020: Due to the current negative overall economic development resulting from the increasing spread of COVID-19 and the official closures of sales branches in Germany, Austria, Luxembourg and Switzerland to contain it, the management board of Adler Modemärkte AG ("ADLER", the "company") today concluded that the company will not be able to achieve the forecast published for the 2020 financial year. For the current 2020 financial year, Group revenues have so far been forecasted at approximately the same level as the previous year, i.e. around €495 million and an EBITDA of between €66-69 million. From today"s perspective, Group revenues and EBITDA in 2020 will be lower than originally forecasted. The previous forecast has therefore been withdrawn.Due to the unprecedented impacts of COVID-19, the company"s management board is continuously assessing the situation and considering a variety of measures to support our customers, employees and other stakeholders. However, since the further course of the current COVID-19 situation and thus the temporal delimitation of the resulting consequences cannot be foreseen at present, the management board refrains from issuing a new forecast for the 2020 financial year under the current circumstances.

Information and Explanation of the Issuer to this News:

About Adler Modemärkte AG:

Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany"s largest and most important textile retailers.The Group generated revenue of €495.4 million and EBITDA of €70.3 million in 2019. As at 31 December 2019, ADLER employed a workforce of around 3,600 and currently operates 172 stores, 143 of which are located in Germany, 24 in Austria, three in Luxembourg, two in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess of 1,400 m2 of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product range. Thanks to more than 70 years of tradition and strong customer loyalty, ADLER considers itself to be the market leader within its target group of affluent customers aged 55 and over. For more information: www.adlermode-unternehmen.com; www.adlermode.com

Press enquiries Adler Modemärkte AG:

Peter Dietz

Media and Investor Relations

Tel.: +49 6021 633 1828

e-mail: investorrelations@adler.de


18-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Adler Modemärkte AG

Industriestraße Ost 1-7

63808 Haibach

Phone: +49 (0) 6021 633 0
Fax: +49 (0) 6021 633 1299
E-mail: info@adler.de
Internet: www.adlermode.com
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1001209

End of Announcement DGAP News Service

1001209  18-March-2020 CET/CEST

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