Ahlers: Ahlers revenues decline by 56.3 percent in Q1

Ahlers Total group revenues in the first quarter of FY 2020/21 declined by 28.8 million euros or 56.3 percent at Ahlers Ag to 22.4 million euros. However, the company witnessed 20 percent growth rates in e-commerce revenues, mainly attributable to the company's own online shops, which doubled their revenues. The company said in a statement that the cost-cutting measures introduced in the course of 2020, the efficiency programmes of the previous year and the lower group revenues resulted in reduced operating expenses of negative 6.2 million euros or 25.1 percent. EBIT before one-time effects dropped to 7.9 million euros compared to 1.6 million euros in the previous year. Consolidated earnings declined from 1.2 million euros in the previous year to negative 8.3 million euros in the first quarter of 2020/21. The company added that in view of the current information on the development of the pandemic, the management board expects group sales revenues in the fiscal year 2020/21 to be slightly below the previous year's figure of 151.6 million euros. The company expects operating expenses to decline moderately in the fiscal year 2020/21, resulting in EBIT before one-time effects on par with the previous year's figure of negative 12.4 million euros. Ahlers further said that with the financial result slightly lower, the absence of one-time effects in particular should contribute to an improved but still negative result before and after taxes on income compared to negative 18.4 million euros last year. Image:Baldessarini website