The Herford-based clothing group Ahlers AG was able to achieve strong sales growth and reduce its operating loss in the 2021/22 financial year. The parent company of brands such as Baldessarini, Pierre Cardin, Otto Kern and Pioneer said on Tuesday that the company had benefited from the abolition of protective measures against the Covid 19 pandemic. In the first half of 2020/21 in particular, business was still significantly affected by the corresponding restrictions.
In the past fiscal year, which ended at the end of November, group sales amounted to EUR 170.9 million, exceeding the previous year’s level by 19.9 percent. The company emphasized that it was also able to increase its revenues in the third and fourth quarters (+11 percent and +7 percent) despite the adverse general conditions. Annual sales grew by 21 percent in Germany, by 32 percent in Eastern Europe and by eight percent in Western Europe.
Despite higher freight costs and increased marketing and personnel expenses, the operating expenses increased “significantly less than sales” according to the group. The loss before interest and taxes (EBIT) adjusted for special effects, which was EUR 13.8 million in 2020/21, was reduced to EUR 7.6 million (-44.9 percent). However, the reported net loss of EUR 9.2 million was slightly higher than in the previous year (+3.4 percent).
In the current year, sales should again grow strongly and the loss should be reduced
Management now expects further progress for 2022/23: Growth in sales is expected to be “in the high single-digit to low double-digit percentage range”. In this context, the group also warned of continued imponderables: “This sales forecast is based on the assumption that the supply chains will function again, inflation will subside and no new measures to contain the pandemic will have to be taken,” explained Ahlers.
Due to the expected significant increase in sales, the company is also aiming for “a significant improvement in EBIT before special items”. The bottom line is that the numbers will probably be in the red again. “The consolidated result is likely to be negative again, but should improve significantly compared to the previous year and be in the low to mid-single-digit negative million range,” said the group.