- Ahlers chairman Carl-Heinz Heuer resigns amid disappointing full year results
Ahlers chairman Carl-Heinz Heuer resigns amid disappointing full year results
by Prachi Singh
After serving on the supervisory board of Ahlers AG for almost 18 years, of which 16 years as its Chairman, Carl-Heinz Heuer has decided to step down from office after the 2019 annual shareholders’ meeting. The company said in a statement that after downsizing the company’s management board in December 2018, Heuer has also suggested to reduce the supervisory board from six to three members to implement leaner and effective structures in a challenging market environment.
The company also revealed its results for the fourth quarter and full year. For the fourth quarter, the board had projected a slightly better revenue trend in percentage terms than in the first nine months, when revenues dropped 6.5 percent. The company said, at negative 2 percent, Q4 revenues were at the upper end of the expectations, while EBIT before one-time effects exceeded the previous year by a moderate 0.4 million euros. However, Ahlers added that the figures for the full year remain disappointing due to adverse effect of strong decline in sales of suits and jackets and the difficult market situation in Eastern Europe. Total revenues declined by 12.8 million euros or 5.4 percent to 223.1 million euros.
Ahlers trims supervisory board, Alexander Gedat to step in as new chairman
After the proposal was tabled at the annual shareholders’ meeting on April 17, 2019, vice-chair Julia von Ah, Jörg-Viggo Müller and employee representative Hans-Joachim Knauf have decided to resign from the supervisory board with effect from the end of the upcoming annual shareholders’ meeting.
Additionally, the company said, vacant supervisory board positions will be filled with Alexander Gedat, CEO of Marc O´Polo AG until August 2017, who would also assume the role of supervisory board Chairman, and Armin Fichtel, CEO of s.Oliver Group until the end of 2017, who will serve on the supervisory board as employee representative.
Full year EBITDA declined by 5 million euros to 3.7 million euros from 8.7 million euros last year, while EBIT before one-time effects amounted to negative 1.4 million euros compared to 3.5 million euros in the previous year. Consolidated earnings after taxes dropped to 7 million euros compared to 1.9 million euros last year, because of the lower operating result and as a result of the much higher one-time expenses.