LUDWIG BECK – Consolidated financial statements as of December 31, 2024

EQS-News: Ludwig Beck am Rathauseck-Textilhaus Feldmeier AG / Key word(s): Annual Results/Annual Report LUDWIG BECK – Consolidated financial statements as of December 31, 2024 27.03.2025 / 12:15 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

LUDWIG BECK – Consolidated financial statements as of December 31, 2024

Munich, March 27, 2025 – Munich-based fashion group LUDWIG BECK (ISIN DE 0005199905) once again faced numerous challenges in 2024. The financial year was characterised by extreme weather, strikes, and domestic and foreign political uncertainties, which had a strong impact on brick-and-mortar retail. The war in Ukraine and its economic impact on companies and consumers dampened consumer spending in all segments. Despite the lively atmosphere in the country, the European Football Championship did not provide the hoped-for economic impetus. The fourth quarter, which traditionally generates the highest sales, and Christmas business in particular, were also disappointing, not least due to the massive impact of Black Friday, which originated from the online sector.

Sales development

In the 2024 financial year, LUDWIG BECK generated gross sales of € 87.2m, up 0.8% on the previous year's figure of € 86.5m. However, the forecasted target range of € 90-93m was not fully achieved. Only, the flagship store at Munich's Marienplatz reported a 2.8% increase. However, this positive development was dampened by a decline in online sales, especially in the beauty segment. In addition to fierce price competition, one distribution channel had to be closed due to regulatory requirements imposed by some major suppliers.

Sales were distributed across the segments “Textile” with € 66.0m (previous year: € 63.7m) and “Non-textile” with € 21.2m (previous year: € 22.8m).

Earnings situation

As a result of the sales trend, the gross profit increased from € 35.3m to € 35.5m. At 48.5%, the gross profit margin remained at the previous year's level.

Other operating income, consisting of rental, sales, and personnel income as well as own work capitalised, rose by € 0.2m to € 5.0m (previous year: € 4.8m).