Adler Modemärkte AG Reports Preliminary Consolidated Earnings Results for the Second Quarter and First Half Ended June 30, 2018; Reaffirms Earnings Guidance for the Year 2018
For the first half, the company's revenue was EUR 243.1 million compared to EUR 254 million a year ago. Earnings before interest, taxes, depreciation and amortization was EUR 0.0 million compared to EUR 10.2 million a year ago. Loss before interest and taxes was EUR 8.3 million compared to earnings of EUR 1.9 million a year ago. Net loss was EUR 9 million compared to EUR 0.8 million a year ago. Loss per share was EUR 0.48 compared to EUR 0.04 a year ago. Free cash flow amounted to EUR 2.0 million compared to EUR 8.0 million a year ago.
The company provided earnings guidance for the year 2018. On 18 July, the management confirmed the outlook for the full year it issued in March 2018. According to that outlook, the company's executive board expects full-year revenue to remain roughly at the same level as in the previous year (EUR 525.8 million). EBITDA is expected to significantly exceed the adjusted 2017 figure (EUR 25.4 million) and amount to between EUR 26 million and EUR 29 million.