Adjustment of outlook

After being presented with the results of the Christmas business and in light of the ongoing market weakness in January 2019, the Management Board does not expect the company to achieve positive operating earnings (EBIT) in the current 2018/19 financial year (May 1, 2018 – April 30, 2019) in spite of the positive cost effects generated by the restructuring program to date. Accordingly, the Management Board revises its previous forecast and now anticipates a loss in the 2018/19 financial year.