KPS AG Adjusts 2023/2024 Forecast Due to Weak Retail Demand

KPS AG has revised its financial forecast for the year 2023/2024 in response to persistently weak demand in the retail sector. The company reported revenues of €111.0 million and an EBITDA of €3.6 million for the first nine months of the fiscal year.

The Executive Board now anticipates Group revenues between €143 million and €149 million for the full year, down from the original estimate. Group EBITDA is expected to range from €5.4 million to €5.7 million. Adjusted for extraordinary write-downs due to the insolvencies of KaDeWe and The Body Shop, as well as restructuring expenses, EBITDA is projected to be between €10.8 million and €11.1 million.

Despite these challenges, KPS AG has seen an increase in new orders and has acquired new customers, though the positive impacts will be partially realized this year. Cost-cutting measures are proceeding as planned and are expected to strengthen long-term earnings.

Full financial figures for Q3 2023/2024 will be published on July 25, 2024.