Defraq Ventures AG
Feike AG continues on its path of growth
Feike AG / Key word(s): Interim Report/Half Year Results Half-Year-Results 2014 Feike AG continues on its path of growth – Revenues increased by 9.1% to 48.9 million Euros in H1 2014 (H1 2013: 44.8 million Euros) – EBIT reached 12.6 million Euros corresponding to an EBIT margin of 25.8% – Number of retail outlets increased by 240 from 2,120 as at 30 June 2013 to 2,360 as at 30 June 2014
Under the “Feike”, “Atongmu” and “Lanmao” brands, the group offers footwear and apparel products for children in different price segments. During the reporting period the group was able to increase the number of units of footwear and apparel sold by 7.7% to 6.7 million (H1 2013: 6.2 million), while the average unit selling price increased by 1.3%. Relying on its design and development efforts, Feike launched several new product designs during the first six months of 2014. In sum, Feike has designed and developed more than 2,050 product design samples, among which 679 product design samples were finally translated into mass production. In the first six months of 2014, revenue for footwear products, including leather shoes, leisure shoes, beach shoes and cotton shoes, was 40.0 million Euros, accounting for 81.8% of the total revenues, representing an increase of 5.6% as compared to the reporting period in 2013. The revenue for apparel products, including jackets, pullover, shirts, shorts and trousers increased by 28.1% and contributed 8.9 million Euros to the total revenue. The gross profit of Feike amounted to 16.2 million Euros, representing an increase of 17.4% as compared to the first half of last year. Furthermore, Feike underlines its profitability with an operating profit (EBIT) of 12.6 million Euros and an EBIT margin of 25.8%. Excluding the IPO expenses, EBIT and EBIT margin amounted to 13.8 million Euros and 28.2%, respectively. The net cash flow generated from operating activities increased from 14.1 million Euros in H1 2013 by 34.2% to 19.0 million Euros in H1 2014. In addition, Feike enjoys comfortable equity resources. During the reporting period the total equity grew by approx. For the second half of 2014, the management board expects the relaxation of the one-child policy in China and rising disposable income to have a positive impact on the market of footwear and apparel for children as well as on Feike’s business development. About Feike AG *measured by the retail sales volume in 2012 according to the “Report on Children’s Apparel and Footwear Markets in China” prepared by the Smart Cube For further Information, please contact: Kirchhoff Consult AG Andreas Friedemann Disclaimer concerning prognoses
28.08.2014 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 | |
c/o Kirchhoff Consult AG, Herrengraben 1 | ||
20459 Hamburg | ||
Germany | ||
Phone: | +49 (0)40 6091860 | |
Fax: | +49 (0)40 60918660 | |
E-mail: | feike@kirchhoff.de | |
Internet: | www.feike-ag.de | |
ISIN: | DE000A1YCNB3 | |
WKN: | A1YCNB | |
Listed: | Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Düsseldorf | |
End of News | DGAP News-Service |
284314 28.08.2014 |