Defraq Ventures AG
Feike AG continues its expansion path and records double-digit growth in the first quarter of 2015
Feike AG / Key word(s): Quarter Results Financial results 3M 2015 Feike AG continues its expansion path and records – Increase in revenue of 29.0% to EUR 29.5 million (3M 2014: EUR 22.8 million) – Rise in EBIT of 20.0% to EUR 7.2 million (3M 2014: EUR 6.0 million) – Increase of the cash position by 32.6% to EUR 98.0 million (31 December 2014: EUR 74.0 million) Berlin, 15 May 2015 – In the first three months of the financial year 2015 Feike AG, the German holding company of the second largest manufacturer of children’s footwear in China*, continued its business expansion. Feike AG records a revenue growth of 29.0% to EUR 29.5 million (3M 2014: EUR 22.8 million). This is mainly due to the further increase of the number of its authorised retail outlets from 2,393 as at 31 December 2014 to 2,437 as at 31 March 2015. Correspondingly, the number of units of footwear and apparel sold increased by 5.1% to 3.3 million units. Thereby, the revenue from apparel products increased by 40.0% and amounts to a total of 18.7% of the group’s entire revenue (3M 2014: 17.2 %). This is in line with the company’s strategy to increase the sales volume of apparel products and further penetrate the highly fragmented children’s apparel market. The group’s gross profit increased by 23.4% to EUR 8.8 million (3M 2014: EUR 7.1 million). The corresponding gross profit margin amounts to 29.7% (3M 2014: 31.0%). The group’s EBIT increased by 20.0% to EUR 7.2 million (3M 2014: EUR 6.0 million). This represents an EBIT margin of 24.3% (3M 2014: 26.2%). Ultimately, the net profit for the period increased by 20.6% to EUR 5.3 million (3M 2014: EUR 4.4 million). Feike AG was able to further increase its cash position amongst others due to higher cash generated from operations and the unrealized foreign currency exchange gain. In the first three months of 2015, cash and cash equivalents increased by 32.6% to EUR 98.0 million as at 31 March 2015 (31 December 2014: EUR 74.0 million). Furthermore, the group’s equity increased by 22.4% to EUR 91.1 million as at 31 March 2015 (31 December 2014: EUR 76.2 million). In general, there are no material changes regarding the company’s outlook for the financial year 2015 compared to the disclosures given in the annual report 2014. Therefore, Feike AG continues to plan a further expansion of its distribution and sales network by increasing the number of retail outlets to approximately 2,500 by the end of 2015. Regarding its financial figures, Feike AG is still expecting relatively stable gross and net profit margins and further double-digit growth in revenue. The growth of revenue is thereby forecasted based on the assumption of an RMB appreciation against the EUR. Measured in RMB, the growth of revenue in 2015 is expected to be in the range of 4% to 6%. *By retail sales volume in 2012 according to the “Report on Children’s Apparel and Footwear Markets in China” prepared by the Smart Cube. (the “Smart Cube Report”)
The report on the first three months of the financial year 2015 of Feike AG will be available on the corporate website under: http://www.feike-ag.com/investor-relations/publications.html For further Information, please contact: Kirchhoff Consult AG Andreas Friedemann Disclaimer concerning prognoses
2015-05-15 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. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Feike AG | |
Friedrichstraße 90 | ||
10117 Berlin | ||
Germany | ||
Phone: | +49 (0) 30 20253604 | |
Fax: | +49 (0)30 20253333 | |
E-mail: | feike@kirchhoff.de | |
Internet: | www.feike-ag.de | |
ISIN: | DE000A1YCNB3 | |
WKN: | A1YCNB | |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf | |
End of News | DGAP News-Service |
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