zooplus AG adjusts earnings forecast following cost-intensive logistics migration

(PresseBox) ( Munich, )
The migration of the German logistics centre from Stauffenberg to the new national and international main logistics hub in Hörselgau/Eisenach has incurred higher costs than initially anticipated by zooplus AG. In view of these developments, the Management Board is expecting a one-off impact in the first two quarters of 2011 and is therefore adjusting its earnings forecast from breakeven to slightly positive to a net loss in the low single digit million region. This move follows expected one-off costs of EUR 4 million, which were initially budgeted to total EUR 1.5 mm only. The migration of logistics will likely be completed by the third quarter 2011 and will not have any further significant impacts on earnings in the third and fourth quarter 2011. While the migration process has resulted in direct and indirect costs, customer business continues to develop as planned, however. As a result, the Management Board has confirmed its total sales forecast of over EUR 250 mm for the full year 2011 and over EUR 320 mm for 2012. The new central logistics site in Hörselgau/Eisenach is a vital element in the further planned growth of the company and will boost the logistics capacity of zooplus from EUR 300 mm to over EUR 400 mm.

Most of the additional expenses stem from higher costs for the initial implementation of the new site, temporary storage and moving costs as well as the temporary use of buffer sites both domestically and abroad. The new larger site in Hörselgau replaced the now phased out German logistics facility in Stauffenberg in April 2011. The company is expecting the new site to be at full operating efficiency levels during the second half of the year.
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