Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG announces preliminary result for 2023 and adjusts earnings forecast

Ad-hoc notification pursuant to section 17 MAR (Market Abuse Regulation)

Ludwig Beck am Rathauseck - Textilhaus Feldmeier AG announces preliminary result for 2023 and adjusts earnings forecast

Munich, 8 February 2024: In the framework of preparing the annual and consolidated financial statements for 2023, the Executive Board and Supervisory Board have determined that the previously forecast result is unlikely to be achieved, in particular due to two special effects, and therefore needs to be adjusted. First, a book loss of EUR 1.2 million had to be recognised due to a real estate transaction which was reversed and, second, the massive onset of winter and the rail strikes which followed had a severe impact on the important Christmas business in the first two weeks of December.

Based on the preliminary figures, the Executive Board is now assuming that the result for the 2023 financial year will be as follows:

• Instead of the balanced operating result previously expected (EBIT) at the level of the individual financial statements of Ludwig Beck AG, the Executive Board is now expecting a slightly negative result of around EUR - 0.6 million (EBIT). Earnings before taxes (EBT) are expected to be positive at around EUR 1.0 million.
• Instead of the operating result (EBIT) of between EUR 4.0 million and EUR 5.0 million previously expected at group level, the Executive Board is now expecting an operating result (EBIT) of EUR 3.1 million for the 2023 financial year.

LUDWIG BECK will therefore be able to close the 2023 financial year with a positive result despite negative special effects.

The above earnings figures are preliminary and unaudited key financial figures. The company will announce the complete and final figures for the 2023 financial year on 21 March 2024.