TOM TAILOR realizes dynamic growth in all sales channels

The operating result - measured using adjusted EBITDA - improved, despite additional expenses for both, the TV campaign and the launch of the new POLO line. It stood at EUR 11.8 million in the first half of 2012, equivalent to an increase of approximately 16% on last year. These figures clearly show that the corporate strategy is paying off and that Tom Tailor’s operations are very healthy. The reported EBITDA reached EUR 8.3 million. This was due to non-recurring expenses in conjunction with February's refinancing and the takeover of BONITA.

Following adjustments, the financial result was comparable to last year's (EUR -3.2 million) at EUR -3.3 million. The reported financial result of EUR -5.0 million (previous year: EUR -2.0 million) includes transaction-related expenses of EUR 1.7 million for the refinancing which was conducted in the first quarter. Last year's figure also contained fair value interest income of EUR 1.1 million from completed interest hedges for which there was no equivalent in the period under review.

The adjusted net result for the period came in at EUR -1.9 million (H1 2011: EUR -0.6 million). Recurring earnings per share amounted to EUR -0.12 (H1 2011: EUR -0.04). The reported net result for the period totalled EUR -7.2 million (H1 2011: EUR -2.7 million), while earnings per share stood at EUR -0.41 (H1 2011: EUR -0.16).

Despite higher marketing and refinancing expenses, as well as costs for the BONITA takeover and tax payments for prior years, the cash outflow from operating activities improved in the first half to EUR -8.8 million (H1 2011: EUR -9.5 million).

Tom Tailor Holding AG updated its outlook for the full year 2012 when it announced the takeover of BONITA in June. Assuming that BONITA is fully consolidated with effect as of 1 August, the Group now anticipates sales of between EUR 625 million and EUR 635 million and an adjusted EBITDA of between EUR 70 million to EUR 75 million. For seasonal reasons, Tom Tailor expects EBITDA to increase strongly in the third and fourth quarters, when sales are traditionally higher. In spite of the ongoing economic uncertainty, the Company is confident about its performance in the full year 2012.

Tom Tailor Holding AG