EQS Group-Ad-hoc: Lalique Group SA / Key word(s): Preliminary Results
Lalique Group announces preliminary key figures for the financial year 2019
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.
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
Phone: +41 43 499 45 58
You can find further information at www.lalique-group.com.
End of ad hoc announcement
|Company:||Lalique Group SA|
|Phone:||043 499 45 00|
|Fax:||043 499 45 03|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1005999|
|End of Announcement||EQS Group News Service|
1005999 25-March-2020 CET/CEST