DGAP-Ad hoc: Adler Modemärkte AG

Haibach (near Aschaffenburg), 30 January 2018: Although the general conditions for the German textile retail industry continued to deteriorate in the fourth quarter of the financial year, Adler Modemärkte AG's preliminary, unaudited figures show that its earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 7% to approximately EUR 25 million in 2017 (2016: EUR 23.3 million). Despite this growth, the Company missed its operating EBITDA target of EUR 27-30 million. Consolidated revenue amounted to EUR 525.8 million, roughly 3% below the prior-year figure of EUR 544.6 million.

As previously announced, ADLER successfully closed the second phase of the real estate sales in Austria shortly before the end of the year. Thanks to the non-recurring income generated from these transactions and adjusted for non-recurring expenses from restructuring measures, the positive effect on the Company's earnings totalled approximately EUR 6 million. The Group's reported EBITDA thus amounted to approximately EUR 31 million, up 33% against 2016. ADLER's free cash flow improved from EUR 11.3 million to more than EUR 35 million in the year under review. Accordingly, cash and cash equivalents increased significantly from EUR 42.8 million to more than EUR 63 million as at 31 December 2017.

ADLER can leverage this extremely sound financial foundation to return the Group to a profitable growth path as planned in the medium to long term. The Executive Board will announce the new corporate strategy and related measures by mid-March 2018 at the latest.

ADLER will publish its audited annual financial statements and annual report for 2017 on 15 March 2018.

Contact:
Adler Modemärkte AG
Investor Relations
Katrin Schreyer
Tel.: +49 6021 633 1828
Email: investorrelations@adler.de