Germany's Douglas says second-quarter earnings were hurt by IPO costs (updated)

Douglas AG

29/05/2024 07:43

(Recasts leading with net loss, adds IPO in para 2 and 3, adds
CEO quote in para 5)
       May 29 (Reuters) - 
    German perfume and cosmetics retailer Douglas  DOU1.DE 
reported a net loss in the second quarter, affected by expenses
linked to its IPO, the company said on Wednesday.
        The beauty retailer reported a net loss of 41.3 million
euros, up 2% year on year, but those were hurt by one-off costs
related to its IPO on the Frankfurt Stock Exchange.
  
        Douglas' listing in March was used to reduce its debt by
1.3 billion euros and to improve its financing conditions.
  
    However, adjusted operating profit came in at 145.9 million
euros ($158.3 million), up 16.2% compared to 127 million euros
in the same period last year.
    "Our omnichannel model continues to drive our growth while
we kept costs under control and thus further improved our
profitability," Sander van der Laan, the company's chief
executive, said in a statement, referring to the physical and
online presence of the company in a country.
    The company confirmed its full-year guidance for 2023/2024.

    ($1 = 0.9221 euros)

 (Reporting by Isabel Demetz and Chiara Holzhaeuser)
 ((Isabel.Demetz@thomsonreuters.com;))