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Tom Tailor Q1 recurring EBITDA ascends 12.1% to €11.1mn
09
May '14
TOM TAILOR GROUP looks back on a dynamic first quarter. Group sales increased by 6.0% to EUR 208.7 million in the first three months of the current fiscal year (2013: EUR 196.8 million). This rise is attributable to the positive development of the two TOM TAILOR segments, which saw an increase in sales of 13.3% to EUR 140.3 million (2013: EUR 123.8 million).
 
Highlights:
-Group sales up 6.0% to EUR 208.7 million in the first quarter 
-Recurring EBITDA grows 12.1% to EUR 11.1 million
-TOM TAILOR e-commerce increases sales significantly by 40.6%
-BONITA strengthens profitability and sees a decline in sales as expected
-Group’s gross profit margin rises by 320 basis points to 56.9%
 
In contrast, sales in the BONITA segment declined by 6.3% to EUR 68.4 million (2013: EUR 73.0 million) in favour of an increase in profitability. The Group’s recurring EBITDA went up 12.1 % to EUR 11.1 million, while the reported EBITDA even surged by 57.1% to EUR 9.9 million.
 
“We got off to a good start in 2014. Our TOM TAILOR brand continued on its course in all sales channels without interruption and outperformed the market. BONITA’s development has confirmed our strategy of working to boost long-term profitability by concentrating on qualitative sales. We will continue resolutely on this path in the coming quarters and we are confident to develop BONITA within the next 12 - 24 months to a market performer,” said Dieter Holzer, Chief Executive Officer of TOM TAILOR Holding AG.
 
Growth driver TOM TAILOR Retail 
Sales in the TOM TAILOR Retail segment again grew over proportionately by 22.3% to EUR 59.2 million (2013: EUR 48.4 million). The increase in like-for-like sales amounted to 9.6% (2013: 2.3%).TOM TAILOR Retail therefore once again performed better than the industry, which grew by 3% in the first quarter. TOM TAILOR’s e-commerce also contributed to the segment’s growth with an increase in sales by 40.6% to EUR 11.1 million (2013: EUR 7.9 million). The TOM TAILOR Retail segment accounted for 28.4% of Group sales (2013: 24.6%).
 
Sales in the TOM TAILOR Wholesale segment rose 7.6% to EUR 81.1 million in the first three months of the year (2013: EUR 75.4 million). Since the beginning of the year, TOM TAILOR Wholesale further increased the number of shop-in-shop sales areas by 60 to 2,329. The number of franchise stores grew by two stores to a current total of 199. The wholesale business accounted for 38.9% of Group sales (2013: 38.3%).


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