| Interim Report H1 - 2009/2010 |
An overview of the DOUGLAS Group
Sales performance during the first seven months of the 2009/10 fiscal year
- Sales increased by 2.8 percent by the end of April (domestic: 3.4 percent; foreign: 1.6 percent)
- Like-for-like sales at previous year’s level (domestic: 1.2 percent; foreign: -2.4 percent)
Half year figures benefited from shift in Easter business
Group half year sales up by 3.2 percent over prior year:
- Sales performance positively impacted by full consolidation of buch.de internetstores AG
- Solid sales performance in Germany
- Decrease in like-for-like sales abroad due to difficult economic conditions
Earnings before taxes rise by 9 million EUR to 142 million EUR:
- Earnings benefited from earlier Easter business and the revaluation of the buch.de shares (6.1 million EUR )
- Prior year’s earnings affected by closing costs of 12 million EUR
- Earnings of all divisions at or above previous year’s level
Solid financing and capital structure:
- Free Cash Flow increased by 49 million EUR to 102 million EUR
- Net bank debt decreased from 200 million to 108 million EUR
Annual forecast specified:
- Sales growth at upper end of target range of 0 to 2 percent
- Earnings before taxes at upper end of target range of 120 to 130 million EUR
