DGAP-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Half Year Report 
In the first half of 2021, LUDWIG BECK suffered significant sales losses again due to the COVID-19 pandemic and 
officially imposed restrictions 
2021-07-22 / 08:15 
The issuer is solely responsible for the content of this announcement. 
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In the first half of 2021, LUDWIG BECK suffered significant sales losses again due to the COVID-19 pandemic and 
officially imposed restrictions 
Munich, July 22, 2021 - After the "pandemic-year" 2020 also the first half of 2021 was heavily impacted by the COVID-19 
pandemic again. Coupled with the nationwide lockdowns imposed, bricks-and-mortar fashion retailers had to contend with 
losses of more than half of their sales versus a "normal year". Losses of almost 60% were recorded compared to 2019. 
According to a survey by TW Testclub, brick-and-mortar fashion retailers ended the first half of 2021 down an average 
of 40% on the 2020 fiscal year. The coronavirus pandemic has represented an additional severe blow to the highly 
competitive textile retail sector, which has already been struggling in recent years with declining customer 
frequencies, unfavourable weather conditions, and a weakening shopping mood. 
Sales development 
The LUDWIG BECK Group generated gross sales of EUR20.2 million in the first half of the 2021 fiscal year (previous year: 
EUR24.8 million). The renewed severe restrictions in the first half of the year due to the COVID-19 pandemic had a 
significant impact on the sales development of the flagship store at Munich Marienplatz. In the first quarter, the 
department store was closed on 54 selling days due to official requirements. 
Earnings situation 
Due to the negative sales development, LUDWIG BECK generated a net gross profit of EUR7.6 million (previous year: EUR9.1 
million). 
Other operating income amounted to EUR5.4 million (previous year: EUR1.5 million). The significantly higher operating 
income is attributable to a first payment of the Bridging Assistance III of EUR4.2 million. 
Personnel expenses decreased from EUR6.7 million in the previous year to EUR5.9 million. Due to the hard lockdown and the 
subsequent massive restrictions for the retail industry, LUDWIG BECK applied for short-time work, which relieved the 
earnings situation. 
Earnings before interest and taxes (EBIT) improved from EUR-4.0 million to EUR-1.0 million due to the Bridging Assistance 
III. At EUR-1.2 million, the financial result was at the previous year's level. Earnings before taxes (EBT) thus amounted 
to EUR-2.3 million (previous year: EUR-5.2 million). 
Due to deferred tax income of EUR0.8 million (previous year: EUR1.8 million), earnings after taxes amounted to EUR-1.5 
million (previous year: EUR3.3 million) in the first half of 2021. 
Outlook 
Even though the COVID-19 pandemic has recently eased significantly and consumer spending is on the rise, we still have 
to be prepared for an uncertain infection situation and its negative consequences. As the epidemiological risks 
persist, especially from new virus mutants, and both peoples and the economy adjust their behaviour accordingly, it 
will still take some time before one can speak of a sustained economic recovery. The extent to which the economy could 
continue to be negatively affected cannot be determined at present. 
Additionally in 2021 one of the biggest challenges for Munich, but also for LUDWIG BECK as a traditional costumes 
retailer, will be the renewed cancellation of the Oktoberfest and the resulting loss of sales. 
The Executive Board assumes that the pandemic situation will only ease significantly after a nationwide vaccination. 
The Executive Board's top priority remains the safeguarding the company and the preservation of jobs. 
The detailed half-year report for fiscal 2021 is published on the Company's website at http://kaufhaus.ludwigbeck.de in 
the "Investor Relations" section, "Financial Publications" under the heading "Interim Reports". 
Contact Investor Relations: 
LUDWIG BECK AG 
A. Deubel 
t: +49 89 23691 - 745 
f: +49 89 23691 - 600 
ir@ludwigbeck.de 
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2021-07-22 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG 
              Marienplatz 11 
              80331 München 
              Germany 
Phone:        +49 (0)89 2 36 91-0 
Fax:          +49 (0)89 2 36 91-600 
E-mail:       info@ludwigbeck.de 
Internet:     www.ludwigbeck.de 
ISIN:         DE0005199905 
WKN:          519990 
Listed:       Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange 
EQS News ID:  1220671 
 
End of News   DGAP News Service 
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1220671 2021-07-22


 
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(END) Dow Jones Newswires

July 22, 2021 02:15 ET (06:15 GMT)