Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Praktiker 2012 Loss Narrows, But Sales Decline

Germany-based home improvement retailer Praktiker Bau Und Heimwerkermaerkte Holding AG (PKKRF.PK) posted a narrower loss for the year 2012, reflecting a reduction in extraordinary effects, despite lower revenues. For 2013, the group said it expects sales to be below the prior-year level and expects to achieve improved but not yet positive EBITA.

Praktiker AG's net loss for the year narrowed to 188.9 million euros from last year's net loss of 554.7 million euros.

Operating earnings, or EBITA, was a negative 128.8 million euros this year, compared with last year's negative 375.1 million euros. This improvement, the group said, is exclusively attributable to the reduction of extraordinary effects which had impaired earnings much more strongly a year ago.

In 2012, extraordinary effects amounted to 29.6 million euros, while it was 4.73 billion euros last year, mainly relating to expenses for the conversion of Praktiker stores to Max Bahr, provisions for planned store closures and higher consultancy expenses.

In 2012, the Group's sales slid 5.6 percent to about 3.003 billion euros from 3.183 billion euros for last year. In addition, sales volume was lower on account of the realignment of the business model. In Germany, the Praktiker Group's sales totalled about 2.191 billion euros in 2012, down 4.3 percent from last year.

Register
To receive FREE breaking news email alerts for Praktiker Bau Und Heimwerkermaerkte Holding AG and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections. Stocks are showing a lack of direction in early trading on Friday after ending the previous session sharply higher. The major averages have been bouncing back and forth across the unchanged line, unable to sustain any significant moves. While the Commerce Department released a report on Friday showing a modest increase in new home sales in the U.S. in the month of September, the uptick came from a significantly downwardly revised level in August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.