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ESCADA AG

euro adhoc: ESCADA AG
Financial Figures/Balance Sheet
ESCADA Group closes 2006/2007 as expected with slightly declining sales and EBITDA

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
Company Information
20.12.2007
Munich, December 20, 2007 - As already forecasted in September, the 
ESCADA Group records slightly declining sales and operative earnings 
in fiscal year 2006/2007 (reporting date: October 31, 2007). 
According to preliminary figures, the manufacturer of women´s luxury 
fashion generated consolidated sales of 686.8 million Euros, some 1.2
% less than last year´s figure of 695.2 million Euros, while 
currency-adjusted sales were up by 1.0 %.
With a marginally higher gross profit margin but also a slightly 
higher cost ratio, the Group´s operative earnings before interest, 
taxes, depreciations and amortizations (EBITDA) came to 68.2 million 
Euros after last year´s total of 74.1 million Euros (-7.9%). The 
Group reports earnings after taxes and minority interests of -26.8 
million Euros (2005/2006: 6.9 million Euros). In line with the 
announcement made after the first half year, this negative result 
includes one-time expenses of 39.9 million Euros for a number of 
structural optimizations and a 14 million Euros write-down on the new
valuation of capitalized deferred taxes in the wake of the German 
corporate tax reform. Due to the net loss incurred for the year, the 
Board of Management will propose to the Supervisory Board to refrain 
from a dividend payment for fiscal year 2006/2007.
The ESCADA business unit generated sales of 461.8 million Euros in 
2006/2007, a minus of 5.6% (2005/2006: 489.2 million Euros, currency 
adjusted: -2.4%). At 48.1 million Euros, EBITDA was 12.5% below the 
corresponding figure for last year (55.0 million Euros). The business
unit PRIMERA (with the labels apriori, BiBA, cavita, Laurèl) reports 
revenues of 247.7 million Euro, a plus of 8.9% (2005/2006: 227.4 
million Euros). PRIMERA´s EBITDA of 20.1 million Euros remained on 
the level of last year due to the extra costs for the expansion, 
mainly incurred at BiBA.
The Group´s net debt continued to fall in the reporting year, down by
21.7 million Euros, or 11.5%, from 188.7 million Euros as of October 
31, 2006 to 167.0 million Euros per October 31, 2007. Year-on-year 
comparison per reporting dates shows that inventories were cut in 
line with strategy and went down by 11.0% from last year´s 102.4 
million Euros to 91.1 million Euros.
Due to the ongoing restructuring program the Board of Management 
expects the new fiscal year 2007/2008 to be a year of transition, 
which is characterized by the implementation of the strategy program 
"ESCADA Excellence" that was launched in summer 2007. ESCADA´s target
is therefore to see increases in the lower single-digit percentage 
range both for consolidated sales and Group EBITDA and to close out 
with a positive result after taxes.
end of announcement                               euro adhoc

Further inquiry note:

Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing

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