Not a good year for practitioners: profit warning, a disastrous half-yearly report, obvious strategic errors, the resignation of Chief Executive Wolfgang Werner, the share of the Saarland in a dive to all-time low - cut off at the end of the MDAX. Since March, the losses amount to more than 70 percent.
Is the worst behind it, finally, Germany's second largest home improvement chain? Probably not. My advice to investors: Stay away! The practitioner papers are also a bargain at current levels ...
Even Wimbledon hero Boris Becker as a promotional ambassador could not boost business at practitioners. The figures, published by the company were just abysmal, despite the best barbecue and garden weather, sales and earnings remained in the seasonally important second quarter, far below even the company itself again and again communicated expectations.
Is the worst behind it, finally, Germany's second largest home improvement chain? Probably not. My advice to investors: Stay away! The practitioner papers are also a bargain at current levels ...
Even Wimbledon hero Boris Becker as a promotional ambassador could not boost business at practitioners. The figures, published by the company were just abysmal, despite the best barbecue and garden weather, sales and earnings remained in the seasonally important second quarter, far below even the company itself again and again communicated expectations.
In fact, the turnover has fallen by almost eight percent to 956.6 million euros, due to weak demand in Germany and internationally. Operating profit before goodwill amortization decreased by 35 percent to 41.7 million euros, the company reported net loss of 307.1 million euros, after the year before, could generate an increase of 25.8 million euros. Analysts had expected only a loss of 139 million euros, an adjusted EBITA of 49 million euros and a turnover of 971 million euros.
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