Essanelle Hair Group reports best result in the company’s history
- Sales rise 4.7% to EUR 123.1 million
- Earnings per share up by 53% to EUR 1.01
- Continued growth expected in 2008 Fritz Kuhn to chair the Supervisory Board
Düsseldorf, 31 March 2008
The final figures for the fiscal year 2007 presented by Essanelle Hair Group AG show that the company’s sales and earnings continued to grow. Last year was the most successful fiscal year in the company’s history, with consolidated sales rising by 4.7% from the previous year’s EUR 117.5 million to EUR 123.1 million.
Says CEO Achim Mansen: “2007 was the best year in the history of our company in terms of both sales and earnings. This is all the more impressive as the previous year was characterised by non-recurrent effects, which needed to be matched by incremental operating profits in 2007. We are therefore very satisfied overall and want to continue this trend in the current fiscal year.”
The strongest sales growth was achieved by the TOP TEN brand, which boosted its revenues by 116.9% to EUR 4.1 million (2006: EUR 1.9 million). As in the previous fiscal year, the HairExpress concept reported a clear increase in sales, generating EUR 22.2 million, up 26.4% on the previous year’s EUR 17.6 million. The Beauty Hair Shops, which specialise in selling salon products increased their sales revenues by 17.1% to EUR 5.0 million (2006: EUR 4.3 million). Super Cut achieved a 3.2% increase in sales to EUR 19.6 million, while essanelle Ihr Friseur reported sales of EUR 67.6 million, compared to EUR 69.5 million in 2006.
Strong increase in earnings per share
On the earnings side, Essanelle Hair Group AG increased its net profit for the year by 54.9% from EUR 2.9 million in 2006 to EUR 4.6 million in fiscal 2007. Accordingly, earnings per share climbed 53% from EUR 0.66 to EUR 1.01. Apart from the good performance, this is also due to non-recurrent income tax effects. In 2007, the tax ratio amounted to only 18%. EBITDA (earnings before interest, tax, depreciation and amortisation) rose by 3.6% from EUR 10.6 million to EUR 11.0 million. Earnings before taxes (EBT) improved by 1.8% to EUR 5.4 million (2006: EUR 5.3 million).
New Chairman of the Supervisory Board
At today’s meeting, the Supervisory Board of Essanelle Hair Group elected Fritz Kuhn as its new Chairman. A management consultant resident in Seeheim, Fritz Kuhn joined the Supervisory Board in 2006. He succeeds Joachim Dübner who had retired effective March 17, 2008.
Takeover by competitor Klier
According to Achim Mansen, the February 2008 acquisition of 89.76% of the shares in Essanelle Group AG by Saxonia Holding Gesellschaft mbH & Co. KG, of which the company’s competitor Frisör Klier GmbH is also a member, will have no strategic implications.
Outlook on 2008
New CEO Achim Mansen is also very optimistic about the year 2008. “We are confident that we will grow at an even stronger rate than in 2007 and will achieve a disproportionate increase in earnings.”
For more details of the fiscal year 2007, please refer to the
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