German fashion manufacturer Ahlers' H1 FY21 sales fall 16% to €59 mn

07 Jul '21
2 min read
Pic: Ahlers
Pic: Ahlers

Ahlers AG, a Germany-based manufacturer of men’s and women’s fashion products, has reported 16.1 per cent revenue decline to €59.3 million in its first half (H1) of FY21 ended on May 31, 2021, compared to the revenue of €70.7 million in corresponding period of prior fiscal. The company’s net loss for H1 FY21 reduced to €4.1 million (H1 FY20: €9.4 million).
“Large parts of the pre-ordered merchandise could be delivered at the beginning of the second quarter, providing positive catch-up effects after the Europe-wide lockdown in winter 2020/21. The current fiscal year 2020/21 will nevertheless be strongly influenced by Covid-19,” Dr Stella Ahlers, CEO at Ahlers, said in a press release.
Ahlers' gross profit for H1 FY21 was €26.3 million (€33.8 million), whereas EBITA was a loss making of €8.8 million (€3.9 million). However, the company’s e-commerce sales for the six-month period grew 56 per cent contributing 14.4 per cent to total sales.
The Baldessarini premium brand’s revenue slightly increased due to the aggressive sale of old merchandise, while Otto Kern achieved mid-double-digit percentage revenue growth. On the contrary, Pierre Cardin’s revenue dropped sharply in the first half of FY21 due to the Covid-19 pandemic. Total revenue of the three premium brands Baldessarini, Pierre Cardin and Otto Kern declined 14.2 per cent €42.2 million (€49.2 million).
Last year, the company's sales of mouth-nose masks had supported Pionier Workwear’s Q2 revenue, which did not recur in the reporting period. Hence sales of Jeans & Workwear segment fell 20.5 per cent to €17.1 million (€21.5 million).
Revenue in Germany dipped 23.1 per cent during H1 FY21 to €30.8 million (€40.1 million). In Western Europe, revenue declined 8.1 per cent to €17.6 million (€19.1 million). The company added that clothing stores in Russia remained open throughout subject to certain conditions. Also in Poland, which is an important market for Ahlers, brick-and-mortar stores were allowed to open for comparatively longer periods, leading to catch-up effects, especially in May 2021. As a result, sales revenue in Eastern Europe/Other declined by 4.9 per cent to €10.9 million (€11.5 million).
“The course of the Covid-19 pandemic (third wave) led to more extensive and longer-lasting Europe-wide containment measures than originally assumed. The lockdown-related revenue shortfall of the first six months of 2020/21 is unlikely to be largely offset in the second half of the fiscal year as previously projected,” Ahlers added in the release.

Fibre2Fashion News Desk (JL)

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