Fashion house Escada swings to H1 loss on one-time charges
29 Jun '06
3 min read
Of the total sum of €16.3 million, a maximum of 10 percent could become cash-effective. Posted in the second quarter, these expenses will be reported with €11.5 million as a separate item after EBIDTA in the Group's Income Statement and with €4.8 million under the taxes on income.
The Group profit after taxes and minority interests for the first six months was negative €3.0 million after €7.2 million over the same period of last year. The Group's profit after taxes for the second quarter was negative €9.2 million (second quarter 2004/05: €0.9 million).
Allowing for one-time expenses, the Group generated earnings before taxes for the first six months of €6.5 million (first six months 2004/2005: €14.5 million). Without one-time expenses, earnings before taxes were up by nearly 28 percent to €18.5 million.
The Board of Management affirms its sales forecast for the full fiscal year 2005/2006 and concretizes expectations on earnings. It estimates sales to grow in the mid single-digit percentage region and reckons EBITDA to increase by around 10 percent. Group earnings after taxes are expected to record a positive figure.
Escada AG – The Group's principal activity is to manufacture and market women's fashion articles. It designs, manufactures and markets brand name clothing collections for women. It also manufactures fashion accessories, such as handbags, shoes, costume jewellery, belts, gloves, ties, shawls and miscellaneous leather items.
marketing@alchempro.com
