ESSANELLE HAIR GROUP AG / Final Results
31.03.2010 09:50
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Essanelle Hair Group presents Annual Report 2009
Sales revenue at EUR 128.0 million after EUR 129.2 million
Pre-tax earnings within forecast range at EUR 5.5 million
Recommended dividend at last year's level
Düsseldorf, 31 March 2010 - Essanelle Hair Group AG has reported a decline
in sales revenue and earnings in the completion of the financial year 2009.
After a Christmas trade below last year's results and because of the
closure of 50 salons, mostly as a result of the Hertie insolvency, sales
revenues were at EUR 128.0 million after EUR 129.2 million in the previous
year (-0.9%). With a total of 51 new openings, the salon portfolio of
Essanelle Hair Group AG remained close to last year's levels.
Achim Mansen, Chief Executive Officer (CEO): 'Given the weak economic
environment, the downward trend of retail sales and especially the negative
one-time factors regarding department stores, we have to be satisfied with
being above the value of 2007 regarding sales revenue as well as pre-tax
earnings - which at the time was a record year for our company.'
The salon concept HairExpress that targets price-sensitive customers
generated sales revenues of EUR 32.1 million in the financial year 2009,
implying a growth rate of 16.1%. The trendy concept Super Cut reported a
sales revenue of EUR 20.5 million on par with last year's level (EUR 20.6
million). The fresh concept TOP TEN generated declining sales revenues of
EUR 5.4 million after EUR 5.9 million, just as the concept 'essanelle Ihr
Friseur' did with EUR 63.3 million after EUR 69.0 million. Especially the
latter concept was affected severely by the closure of Hertie department
stores. The Beauty Hair Shops, which specialise in the sales of exclusive
hair salon products, were able to increase their sales revenues from EUR
6.0 million to EUR 6.7 million in the completion of the financial year
2009.
Earnings performance within range, dividends of EUR 0.50
The company's sales trend is also reflected in the earnings performance
indicators. The EBITDA (Earnings Before Interest, Tax, Depreciation and
Amortisation) declined by 6.9% from EUR 12.1 million to EUR 11.3 million.
Earnings Before Tax (EBT) decreased from EUR 6.4 million to EUR 5.5 million
and for this reason it lies within the expected range of EUR 5.5 million to
EUR 6.0 million. Consolidated net income also decreased accordingly from
EUR 3.6 million to EUR 3.3 million in the 2009 financial year. The result
per share amounted to EUR 0.71 in 2009 after EUR 0.80 in the previous year.
Management and Supervisory Board will suggest a dividend of EUR 0.50 on
last year's level during the Annual General Meeting.
Achim Mansen: 'Absent sales, drastic tariff increases and thus a rising
rate of staff costs have led to those earnings figures. Overall, we were
able to take countermeasures with savings in material cost and marketing.
Based on this, we are able to carry forward the announced dividend
continuity and at the same time continue to invest with sound judgement.
Should the general conditions slightly recover as expected and the
department store environment remain stable, we expect a growth potential
regarding sales revenues and earnings again.'
Further details regarding the 2009 financial year can be extracted from the
Annual Report on the company's Homepage in April.
www.essanelle-hair-group.com.
Contact: Michael Müller, Linh Chung, Haubrok Investor Relations,
0211-301260, m.mueller@haubrok.de
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Language: English
Company: ESSANELLE HAIR GROUP AG
Niederkasseler Lohweg 20
40547 Düsseldorf
Deutschland
Phone: +49 (0)211 3 01 26-0
Fax: +49 (0)211 3 01 26-172
E-mail: investor@essanelle-hair-group.com
Internet: www.essanelle.de
ISIN: DE0006610314
WKN: 661031
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-News: Essanelle Hair Group presents Annual Report 2009
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