logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world. Outrage in the business world may be helping re-shape a new Indiana law that many are calling "anti-gay." Embarrassed and worried about the backlash from the national business community, the state's paper of record is loudly calling on legislators to re-word the law. The front page of the Indianapolis...
comments powered by Disqus
Follow RTT