Tom Tailor Holding SE Reports Group Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Revises Earnings Guidance for the Fiscal Year 2017
For the six months, the company reported sales of 446.3 million against 451.3 million a year ago. EBITDA was 30.7 million against 18.9 million a year ago. EBIT was 11.8 million against LBIT of 5.5 million a year ago. Net result was 0.1 million or 0.04 per share against net loss of 10.7 million or 0.47 per share a year ago. Cash flow from operating activities was 22.2 million against cash flow used in operating activities of 6.0 million a year ago. The positive trend reflected above all the decline in net working capital, primarily owing to the strong push to reduce inventory, which decreased by 67.0 million (first half of 2016: 203.3 million) and the 10.8 million increase in net income. Net debt as at 30 June 2017 was down significantly to 124.6 million against 239.0 million a year ago.
For the fiscal year 2017, the company is confirming its forecast, which was adjusted in the first quarter, for the current fiscal year, as the assumptions made at the beginning of the year are still valid, and the market trend and the RESET program are expected to continue as before. Consequently, the management expects a slight decline in Group sales. At the same time, the management board expects to achieve a sharp year-on-year increase in reported EBITDA.