WOLFORD AG (FRA:WOF) EQS-Adhoc: Wolford AG: Wolford Turnaround Continues in H1 2023

Transparency directive : regulatory news

29/08/2023 12:39

EQS-Ad-hoc: Wolford AG / Key word(s): Half Year Results
Wolford AG: Wolford Turnaround Continues in H1 2023

29-Aug-2023 / 12:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Reports strong Year-on-Year Improvement in Revenue and EBIT

The board of Wolford announces group results for the 6 months to 30 June, 2023

Key financial information:

We are pleased to report that group sales for the reporting period from January to June 2023 grew by 8% to 58,8 mEUR (2022: 54,3 mEUR). This growth has been driven by investment in effective marketing activities, on-trend designer collaborations as well as Wolford‘s new focused and elevated product proposition of iconic styles and smart seasonal assortments. These initiatives have been an important driver of growth against the broader background of ongoing geopolitical and macroeconomic challenges.
EBIT (operating result before financial and tax expenses) significantly improved by 5 mEUR, or 29% vs the previous year (-12 mEUR vs -17 mEUR in H1 2022). Notably, this improvement has been accelerating in the second quarter of 2023.
The company is confident that its restructuring measures, including the reallocation of business responsibilities on the management board with Silvia Azzali recently appointed as the CEO, the pooling of Wolford’s distribution activities in Milan, the continued cost reductions, as well as additional marketing investments, will drive sustainable profitability.

Main financial KPIs

SALES 58,8 mEUR
EBITDA € -5,3 mEUR
EBITDA margin -9,0 %
EBIT € -12,0 mEUR
EBIT margin -20,4 %

End of Inside Information

29-Aug-2023 CET/CEST News transmitted by EQS Group AG. www.eqs.com

Language:	English
Company:	Wolford AG
	Wolfordstrasse 1
	6900 Bregenz
	Austria
Phone:	+43/5574/6900
E-mail:	investor@wolford.com
Internet:	www.wolford.com
ISIN:	AT0000834007
WKN:	83400
Indices:	ATX
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart; Vienna Stock Exchange (Official Market)
EQS News ID:	1714091


End of Announcement	EQS News Service

1714091 29-Aug-2023 CET/CEST

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