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Wolford AG: Current developments May – August 2020

COVID-19 pandemic hits Wolford Restructuring program gains traction Operating results significantly higher than previous year Company confirms outlook on return to profitability by the end of the 2021 calendar year On the occasion of the annual general meeting, the management board reviewed the current business performance, confirming its outlook on return to profitability by the

2020-10-01T14:46:35+02:00October 1st, 2020|

Wolford debt-free after repayment of all loans

On May 28, 2020, the buyer of the company property in Bregenz, the neighboring Blum Group, transferred the agreed purchase price of approximately EUR 72 million to the Wolford AG. At the same time Wolford repaid all credit lines to its financing banks. Simultaneously, the company repaid the shareholder loan including interests granted by Wolford's

2020-09-24T16:18:07+02:00June 4th, 2020|

Wolford concludes contract with the Blum Group for the sale and lease of the company property in Bregenz

Wolford AG today signed the contract with the Blum Group, for the sale of the company's property in Bregenz, Wolfordstraße 1 and 2 (signing). At the same time, Wolford is renting the required areas of the operational property from the buyer on a long-term basis, as the headquarters, research & development and production will remain

2020-04-09T18:25:40+02:00April 9th, 2020|

Adjustment of outlook 2020/21

The management board of Wolford AG has analyzed the effects of the increasing spread of the coronavirus and expects this global epidemic to have a significant negative impact on the development of sales and earnings of the Wolford Group. In Italy, where the virus has hit particularly hard, Wolford's sales have fallen by about 50%

2020-03-11T17:45:33+01:00March 11th, 2020|

Change in the Wolford Management Board / Global Sales & Merchandising Director Silvia Azzali appointed as the New Chief Commercial Officer (CCO)

Wolford AG announced today that the Supervisory Board appointed Silvia Azzali (48), the present Global Sales & Merchandising Director of Wolford AG, to serve on the Management Board as the company’s Chief Commercial Officer (CCO). Starting on November 1, 2019, the Wolford manager will be responsible for the areas of Sales & Merchandising, Marketing and

2020-02-19T14:17:27+01:00October 29th, 2019|

Change in the Management Board

At its meeting today, the Supervisory Board of Wolford AG appointed Silvia Azzali (48), Global Sales & Merchandising Director of Wolford AG, to serve as a new Member of the Management Board. Chief Executive Officer (CEO) Axel Dreher resigned from his Management Board position today on the most amicable terms with the Supervisory Board and

2020-02-19T14:18:16+01:00October 29th, 2019|

Financing secured for a further two years

Wolford AG, ISIN AT0000834007, has reached an agreement with its Austrian banking partners to extend its lines of credit until June 30, 2021. Accordingly, the financing of ongoing business operations has been secured over the next two years. The agreement still requires contractual implementation and the formal board approval by the banks. For organizational reasons,

2020-02-19T14:21:29+01:00June 7th, 2019|

Wolford AG started further restructuring measures

In view of the continuing negative revenue developments in the financial year 2018/19 (May 2018 to February 2019: -9 %), the management board initiated comprehensive restructuring measures with sustainable cost saving potential to bring the company's cost structure in line with the revenues. The expected savings potential significantly exceeds ten million euros. In addition, sales

2020-02-19T14:23:58+01:00February 26th, 2019|
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