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Ludwig Beck reports Q3 FY20 gross sales of €41 mn
23 Oct '20
1 min read
Pic: Shutterstock
The Munich Fashion Group Ludwig Beck has generated gross sales of €41.0 million in its third quarter (Q3) FY20 ended on September 30, compared to gross sales of €63.7 million in the first nine months of last fiscal. Group’s earnings before interest, taxes, depreciation (EBITDA) reported a loss of €0.4 million compared to earnings of €5.7 million in Q3 FY19.
Gross profit for the period dropped to €14.8 million (Q3 FY19: €25.4). However, group’s loss after tax improved to €4.4 million (€17.2 million).
During the nine months period, sales of textile segment decreased to €27.4 million (€46.3 million). While non-textile segment fell marginally to €13.6 million (€17.7 million).
According to Ludwig Beck’s expectations, the further recovery process in the second half of the year and beyond will probably be slow. One major challenge for both Munich and Ludwig Beck as traditional Bavarian costume specialist was the cancellation of the Oktoberfest, as reported in the release.
Fibre2Fashion News Desk (JL)
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