tHe FIrst sIx moNtHs 2011 – summary
The Praktiker Group saw a slight improvement in its sales
trend in the second quarter, but no turn around yet. Consolidated sales were still down on the same quarter of the
previous year.
The repositioning of the Praktiker brand in Germany
was initiated in April. It became clear that customers must
first get used to the changes in market presence and that a
modified marketing concept does not immediately result in
positive sales effects. However, the decline in sales in the
second quarter was significantly less than in the first three
months, in which the former marketing concept was discontinued but the new one had not yet been introduced. The
repositioning, including the new advertising campaign, has
already had a positive impact on the image of the Praktiker
brand in Germany, but has not yet stimulated sales to the
anticipated extent.
In the consistently positive consumer environment of the
German market, the Max Bahr brand kept sales stable in the
second quarter. However, the strong growth rates of the first
quarter were not repeated as advertising activities were not
used to the same extent as in the first quarter to strengthen
earnings.
In the second quarter, international business was again
marked by tough overall economic conditions, particularly
in countries that are especially important for the sales and
earnings of the Praktiker Group. Sales dropped – percentagewise – particularly strongly in Romania and Bulgaria.
The sales decline in Greece was noticeably less than in the
first quarter – in spite of the escalating financing problems
of the Greek state, the general consumer restraint and the
many protests and strikes that at times brought public life
to a standstill.
The Group’s gross profit margin improved further, but not
sufficiently to keep earnings stable as against the previous
year. The volume effect of the sales decline was too strong.
As sales and earnings failed to meet expectations in both
the second quarter and the first half of the year, management has adjusted the outlook for the current business year
and the years to come.
Management now expects a negative sales development
also in the second half of the year. Operating earnings in
the second half will likewise not reach the level of the corresponding prior year period.
Sembra che le prospettive non siano rosee, se pur in miglioramento i conti, sono sempre in perdita.
Discorso da approfondire, potrebbe rilevarsi una bella scommessa, ma a gennaio è stata pagata la cedola?
Praktiker - Start
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