Adler Modemärkte AG Reports Earnings Results for Third Quarter and Nine Months Ended September 30, 2018; Revises Earnings Guidance for the Year 2018; Provides Earnings Guidance for the Fourth Quarter of 2018; Provides Earnings Guidance for the Year 2020
In the first nine months of the year, the company generated revenue of EUR 360.4 million, down 3.7% from EUR 374.2 million in the first nine months of 2017. EBITDA was negative at EUR 2.4 million against earnings of EUR 6.6 million a year ago. Loss before interest and tax was EUR 14.7 million against EUR 5.7 million a year ago. Net loss after tax was EUR 14.7 million against EUR 7.0 million a year ago. Loss per share was EUR 0.80 against EUR 0.38 a year ago. The company generated free cash flow used in was EUR 6.4 million.
The company revised downward its forecast for 2018. The management now expects revenue for the overall year to be down slightly year on year at EUR 525.8 million; previously, it had been expected that revenue would be roughly on par with the prior-year level. EBITDA is now expected to range between EUR 20 million and EUR 24 million, down from EUR 26 to 29 million.
For the fourth quarter 2018, the company anticipates clearly positive earnings as well as a clearly positive free cash flow.
The company still expects EBITDA to improve by more than 50% until the year 2020 compared to the operating EBITDA 2017 of EUR 25.4 million.