euro adhoc: ESCADA AG / Financial Figures/Balance Sheet / ESCADA Group closes 2006/2007 as expected with slightly declining sales and EBITDA

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Company Information

20.12.2007

Munich, December 20, 2007 - As already forecasted in September, the
ESCADA Group records slightly declining sales and operative earnings
in fiscal year 2006/2007 (reporting date: October 31, 2007).
According to preliminary figures, the manufacturer of women´s luxury
fashion generated consolidated sales of 686.8 million Euros, some 1.2
% less than last year´s figure of 695.2 million Euros, while
currency-adjusted sales were up by 1.0 %.

With a marginally higher gross profit margin but also a slightly
higher cost ratio, the Group´s operative earnings before interest,
taxes, depreciations and amortizations (EBITDA) came to 68.2 million
Euros after last year´s total of 74.1 million Euros (-7.9%). The
Group reports earnings after taxes and minority interests of -26.8
million Euros (2005/2006: 6.9 million Euros). In line with the
announcement made after the first half year, this negative result
includes one-time expenses of 39.9 million Euros for a number of
structural optimizations and a 14 million Euros write-down on the new
valuation of capitalized deferred taxes in the wake of the German
corporate tax reform. Due to the net loss incurred for the year, the
Board of Management will propose to the Supervisory Board to refrain
from a dividend payment for fiscal year 2006/2007.

The ESCADA business unit generated sales of 461.8 million Euros in
2006/2007, a minus of 5.6% (2005/2006: 489.2 million Euros, currency
adjusted: -2.4%). At 48.1 million Euros, EBITDA was 12.5% below the
corresponding figure for last year (55.0 million Euros). The business
unit PRIMERA (with the labels apriori, BiBA, cavita, Laurèl) reports
revenues of 247.7 million Euro, a plus of 8.9% (2005/2006: 227.4
million Euros). PRIMERA´s EBITDA of 20.1 million Euros remained on
the level of last year due to the extra costs for the expansion,
mainly incurred at BiBA.

The Group´s net debt continued to fall in the reporting year, down by
21.7 million Euros, or 11.5%, from 188.7 million Euros as of October
31, 2006 to 167.0 million Euros per October 31, 2007. Year-on-year
comparison per reporting dates shows that inventories were cut in
line with strategy and went down by 11.0% from last year´s 102.4
million Euros to 91.1 million Euros.

Due to the ongoing restructuring program the Board of Management
expects the new fiscal year 2007/2008 to be a year of transition,
which is characterized by the implementation of the strategy program
"ESCADA Excellence" that was launched in summer 2007. ESCADA´s target
is therefore to see increases in the lower single-digit percentage
range both for consolidated sales and Group EBITDA and to close out
with a positive result after taxes.

end of announcement euro adhoc
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ots Originaltext: Escada AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Viona Brandt

Tel.: +49 (0)89 9944 1336

E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / regulated dealing


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