with focus on structural improvements in the first quarter of 2017

  • EUR 51.9 million in revenues in first quarter of 2017
  • “International Shops” segment growth driver with a 35.6% increase in revenues compared to the same period of the previous year, Chinese revenues also higher
  • New shop system for German Shop and strong focus on earnings; customer service successfully transferred
  • Profitability on the basis of adjusted EBIT at the same level as in the first quarter of 2016, strong improvement in the International Shops Segment
  • Negative operating cash flow of EUR -7.1 million in the first quarter after EU

    International growth trend continues, focus on profit in Germany

    Revenues in the German Shop segment, which also includes sales to Chinese customers, amounted to EUR 35.3 million in the first three months (Q1 2016: EUR 34.8 million).

    The Chinese revenues included in this figure rose by 8.6% to EUR 23.6 million compared to the first quarter of 2016. As in previous years, revenues from the Chinese business were lower in the first quarter of 2017 compared to the fourth quarter of 2016 due to the strong year-end business. This was also the case in Europe. To improve the service for customers in China and to reduce costs, additionally works

    Adjusted EBIT margin at a level similar to the first quarter of 2016

    Adjusted EBIT for the first quarter of 2017 was EUR -7.2 million, the adjusted EBIT margin -14.0% compared to -13.8% in the same period of the previous year. The International Shops segment, in particular, has developed very positively in terms of income. The reduction in other sales and administrative expenses in the Group also represents a structural improvement despite the additional costs for temporarily running customer service in parallel. These expenses amounted to 15.8% of Group revenue after they had accounted for 16.5% in the first quarter of 2016. A higher share of low-margin con