LALIQUE GROUP SA EQS-Adhoc: Lalique Group announces preliminary key figures for the financial year 2019

Directive transparence : information réglementée

25/03/2020 07:00

EQS Group-Ad-hoc: Lalique Group SA / Key word(s): Preliminary Results
Lalique Group announces preliminary key figures for the financial year 2019

25-March-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.


Lalique Group announces preliminary key figures for the financial year 2019

Zurich, 25 March 2020 - Lalique Group SA (SIX: LLQ), which is active in the creation, development, marketing and worldwide distribution of luxury goods, today announced preliminary, unaudited key figures for the financial year 2019. Operating revenue increased by around 5% to approximately EUR 143.5 million (up around 5% in local currencies) compared to the previous year. Earnings before interest and taxes (EBIT) totalled around EUR 1.4 million, as expected, and the EBIT margin was around 1.0%. Net Group profit is expected to reach around EUR 1.1 million. The coronavirus situation did not have a significant impact on Lalique Group's business until mid-March 2020, before the lockdowns imposed by the authorities in France and Switzerland; however, the company expects to be adversely affected over the remainder of the year.

In line with the guidance published in October 2019, Lalique Group generated further moderate growth in sales in the financial year 2019 in a challenging market environment. This was driven primarily by continued strong growth in the Ultrasun segment and positive developments of almost all brands in the perfume business as well as by the Lalique crystal business. The newly acquired stake in the Scottish whisky distillery The Glenturret also contributed to growth. As previously communicated, sales were negatively impacted in particular by a significant decline in higher-margin sales at Lalique Parfums in the Middle East. Overall, operating revenue increased by around 5% to approximately EUR 143.5 million compared to the previous year. In local currencies, this also corresponds to growth of around 5%.

Personnel costs increased by around 9% to approximately EUR 35.5 million in the reporting year, reflecting the planned expansion of the business. Other operating expenses decreased by around 7% to approximately EUR 30.0 million compared to the previous year. This includes a decrease of around EUR 7.5 million due to the first-time application of IFRS 16, with a corresponding increase in depreciation allowances of approximately EUR 6.9 million, totalling EUR 14.8 million. Operating expenses also reflect planned costs for the international expansion of the business as well as the restructuring in the US; they additionally include EUR 1.2 million of one-off costs related to the acquisition of the 50% interest in The Glenturret.

EBIT totalled around EUR 1.4 million in 2019 (previous year: EUR 6.1 million, including extraordinary income of EUR 2.4 million related to legal proceedings) and was thus at the upper end of the guidance given in October 2019. The EBIT margin was around 1.0%, compared to 4.5% in the previous year. Excluding one-off costs related to the acquisition of 50% of The Glenturret, EBIT totalled around EUR 2.6 million in the reporting year and the EBIT margin was around 1.8%.

Net Group profit is expected to be approximately EUR 1.1 million, compared to EUR 5.2 million in the previous year.

States, societies and companies around the world face immense challenges due to the measures that have become essential to combat the coronavirus in the current year. Protecting the health of its employees, clients and partners is Lalique Group's absolute priority, and the Group has implemented measures in accordance with official requirements.

Before the lockdown measures imposed by the authorities in Switzerland and France in mid-March 2020, Lalique Group's business was less affected than initially expected when the crisis began in China. However, the company expects its business operations to be adversely affected over the remainder of the year, in particular due to the closure of points of sale in connection with lockdowns around the world and interruptions in supply chains. Due to the unpredictable nature of the situation, it is not possible to provide more specific information on the course of business in 2020 at this point in time. As previously announced, a strong focus is being placed on tight cost management in the current year. At the same time, the Group will continue to concentrate on the delivery of its strategic initiatives and - taking account of current market developments - will place a focus on specific regions. Its priorities also include the further expansion of online distribution capabilities globally.

Lalique Group will publish its final audited results for the financial year 2019 on 8 April 2020.

Information regarding the Annual General Meeting on 8 May 2020
In view of the updated measures to combat COVID-19 that were announced by the Swiss Federal Council on 16 March 2020, the 2020 Annual General Meeting will be limited to what is legally required and it is expected to take place without shareholders attending in person. Shareholders are requested to authorize the independent proxy to exercise voting rights on their behalf.

Media contact
Lalique Group SA
Esther Fuchs
Senior Communication & PR Manager
Grubenstrasse 18
CH-8045 Zurich

Phone: +41 43 499 45 58
E-mail: esther.fuchs@lalique-group.com


Lalique Group
Lalique Group is a niche player in the creation, development, marketing and global distribution of luxury goods. Its business areas comprise perfumes, cosmetics, crystal, jewellery, high-end furniture and living accessories, along with art, gastronomy and hospitality as well as single malt whisky. Founded in 2000, the company employs approx. 720 staff and has its headquarters in Zurich. The Lalique brand, from which the Group derives its name, was created in Paris in 1888 by the master glassmaker and jewellery designer René Lalique. The registered shares of Lalique Group SA (LLQ) are listed on the SIX Swiss Exchange.

You can find further information at www.lalique-group.com.

End of ad hoc announcement
Language: English
Company: Lalique Group SA
Grubenstrasse 18
8045 Zürich
Phone: 043 499 45 00
Fax: 043 499 45 03
E-mail: info@lalique-group.com
Internet: www.lalique-group.com
ISIN: CH0033813293
Valor: A0M1KL
Listed: SIX Swiss Exchange
EQS News ID: 1005999

End of Announcement EQS Group News Service

1005999  25-March-2020 CET/CEST