Wolford : Annual Report 2021

Looking

FORWARD

Annual Report 2021

Key Figures

5 YEARS

INCOME STATEMENT			2021		2020*	2019/20**	2018/19**	2017/18**
			108.95
Sales	in EUR million			68.04		118.54		137.22		149.07
EBIT	in EUR million		-5.26		19.94		-28.68		-8.98		-9.22
Earnings before tax	in EUR million		-9.42		17.33		-35.02		-10.11		-11.43
Earnings after tax	in EUR million		-12.33		12.77	-27.42		-11.10		-11.54
Free cash flow	in EUR million		-0.22		53.25		4.27	-10.88		1.83
Employees (average)	number		1,091		1,169		1,243		1,347	1,433
KEY BALANCE SHEET FIGURES			12/31/2021		12/31/2020		04/30/2020		04/30/2019		04/30/2018
Equity capital	in EUR million		15.24		28.54		15.02		42.72		33.90
Net debt	in EUR million		0.29		positive		33.16		19.62		30.09
Working Capital	in EUR million		32.13		31.37	38.05		31.07	34.59
Balance sheet total	in EUR million		134.65		138.90		161.69		117.99		114.33
Equity capital ratio	in %		11.3		20.5		9.3		36.2		29.7
Gearing	in %		10.17		-		>100		45.9		88.8
STOCK MARKET INDICATORS			2021		2020*	2019/20**	2018/19**	2017/18**
Earnings per share	in EUR		-1.86		1.93		-4.14		-1.76		-2.35
Dividend per share	in EUR		0.00		0.00		0.00		0.00		0.00
Equity per share	in EUR		0.00		4.30		2.26		6.44		6.90
Annual high	in EUR		10.30		8.80		11.40		17.70		19.75
Annual low	in EUR		6.55		4.82		3.20		10.60		11.36
Year-end price	in EUR		7.20		7.45		6.00		11.40		13.60
Number of shares	in thousand		6,631		6,631		6,631		6,320		4,912
(weighted average)
Number of shares traded	in EUR million	47.74	49.40		39.79		75.59		68.00
(daily average)

• May to December
• May to April

002

The

CONTENTS

Company
006
Letter From the Management Board	008
LOOKING FORWARD	012
The ­Wolford Share	028
Corporate Governance Report	030
Supervisory Board Report	038
Group Management Report
040
Group Information	042
Business Climate	046
Financial Review	048
Development of the Business Areas	054
Outlook and Targets	056
Events After the Balance Sheet Date	058
Opportunity and Risk Management	059
Research and Development (R&D)	065
Human Resources	067
Further Disclosures	069
Consolidated Accounts
070
Consolidated Statement of Comprehensive Income	072
Consolidated Cash Flow Statement	073
Consolidated Balance Sheet	074
Consolidated Statement of Changes in Equity	075
Segment Reporting	076
Consolidated Non-current Asset Schedule	078
Notes	082
Declaration by the Management Board of ­Wolford AG	126
Auditor's Report	127
Further Information
134
The Wolford Group at a Glance	136
Glossary	146
Financial Calendar	150
Contact & Imprint	151

WOLFORD

founded­ in 1950 in Bregenz,­

Austria, is the market­ leader­ in skinwear. In the decades­

of our existence, we have produced numerous product

innovations,­many of which are still ­bestsellers ­today. We are

represented­by 229 monobrand stores and more than 2,500 retail partners worldwide in around

45 countries. Our company has been listed on the Vienna Stock Exchange since 1995.