Adjustment of the forecast for the financial year 2023/2024 due to persistently weak demand in the retail sector

KPS AG: Adjustment of the forecast for the financial year 2023/2024 due to persistently weak demand in the retail sector

KPS AG achieved revenues of € 111.0 million and an EBITDA of € 3.6 million in the first nine months of the business year 2023/2024. Against the backdrop of persistently weak demand in the retail sector, the Executive Board of KPS AG is adjusting its forecast published on 7 March 2024. For the current business year 2023/2024, the Executive Board of KPS AG now assumes that Group revenue will be in a range between € 143 million and € 149 million compared to the original forecast. Group EBITDA is expected to amount to between € 5.4 million and € 5.7 million. Adjusted for extraordinary write-downs due to the insolvencies of KaDeWe and The Body Shop as well as restructuring expenses, the expected Group EBITDA would amount to between € 10.8 million and € 11.1 million.

In the current business year, KPS AG has so far been able to achieve an overall increase in new orders and acquire new customers. However, the resulting positive effects will only have a proportionate impact in the 2023/2024 financial year. The cost-cutting measures initiated to date are proceeding according to plan and, in the view of the Executive Board, will contribute to strengthening the earnings situation in the long term.

The full financial figures for the third quarter 2023/2024 will be published on 25 July 2024.

Leonardo Musso
Sole member of Executive Board

Unterföhring, 23 July 2024

Contact:

KPS AG
Beta Street 10H
85774 Unterföhring
Phone: +49 (0) 89 356 31-0
Fax: +49 (0) 89 356 31-3300
E-mail: ir@kps.com