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Praktiker registers slow progress in first half

Continued poor weather and a noticeable but only slowly progressing improvement of the international market environment characterised the course of business of the Praktiker Group during the first half of 2010.

The Praktiker Group generated sales totalling €1,786.8 million during the first half of 2010. This is 5.8% less than during the same period last year (€1,896.3 million). The main reason for this sales trend was the extreme weather: during the first quarter, large parts of Europe came under the impact of a prolonged cold and wet spell in April and May. In June, sales in local currency for the first time picked up again in Germany and abroad as compared to the same period one year earlier.

With regard to the full financial year 2010, Wolfgang Werner, chairman and CEO of Praktiker anticipates a decline in group sales in the lower single-digit percentage range. In terms of EBITA before special effects, however, he continues to expect a significant year-on-year increase.

 Under purely operational aspects – before special effects – the company  generated EBITA in the amount of €14.4 million during the first half of 2010. However, the EBITA reported for the first six months amounted to only €0.1 million and thus fell €18.8 million short of the prior-year value, this being mainly attributable to the fact that one-off expenses totalling €14.3 million had been incurred.

Praktiker has 20 units in Hungary, with one new opening during the past year. (BBJ)