Steilmann SE Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
For the nine months, the company reported revenues of EUR 637 million compared to EUR 639.6 million a year ago. The EBITDA amounted to EUR 10.8 million compared to EUR 14.8 million a year ago. Adjusted by one-time expenses and de-consolidation effects, the generated EBITDA reached EUR 9.4 million compared to EUR 15 million a year ago. The reduction resulted mainly from the anticipated integration costs associated with the acquisition of the Kressner subsidiaries by Adler Modemarkte AG. Net loss amounted to EUR 30 million. Net financial debt (excluding non-interest bearing short-term liabilities) increased from EUR 83.1 million as at Dec. 31, 2014 to EUR 148.3 million as at September 30, 2015 due to seasonality.