Adler posts H1 net loss of 49.4 million euros

Adler Modemärkte AG said in a statement that after the official order to close all 171 stores for several weeks in response to the Covid-19 pandemic had a massive impact on the KPIs in the first half of the year. Revenue amounted to 138.1 million euros, over 40 percent below the prior-year period. The company also reported a significant drop in EBITDA from 25 million euros to negative 19.7 million euros. Due to the impairment losses amounting to 5.8 million euros, the company’s consolidated net loss was 49.4 million euros compared to negative 4.9 million euros generated in the prior-year period.