DGAP-News: Ming Le Sports AG / Key word(s): Quarter Results Ming Le Sports AG: First quarter results show sustainable growth 30.05.2013 / 17:34 --------------------------------------------------------------------- Q1 Results 2013 Ming Le Sports AG: First quarter results show sustainable growth - Increased revenues of 30.6 per cent to 73.7 million Euros - Gross profit grew by 13.6 per cent to 21.8 million Euros - EBIT gains 6.4 per cent, adding up to 16.8 million Euros - Company confirms outlook with a year-on-year revenue growth of 25.0 per cent Frankfurt, 30 May 2013 - Ming Le Sports AG, a rapidly growing branded sportswear company in China, managed to exceed previous year's revenues by 30.6 per cent, amounting to 73.7 million Euros (Q1 2012: 56.4 million Euros). Furthermore, the company remains on its growth path with an increased EBIT of 6.4 per cent to 16.8 million Euros and an improved gross profit of 13.6 per cent to 21.8 million Euros. Though this resulted in a decrease of the gross profit margin from 34.0 per cent in Q1 2012 to 29.6 per cent in Q1 2013 due to higher costs from the outsourcing of manufacturing to other vendors. In the first three months of 2013, 56.6 per cent of Ming Le's total revenues were attributable to the sales of footwear. The revenue of footwear products grew by 21.8 per cent from 34.2 million Euros in the first three months of 2012 to 41.7 million Euros in the first three months of 2013, while the sales volume in this segment increased as well. The average unit-selling price amounted to 11.10 Euros in Q1 2013 compared to 10.50 Euros in Q1 2012. The sales of apparel, accessories and equipment accounted for 43.4 per cent (Q1 2012: 39.3 per cent) of total revenues and generated revenues of 32.0 million Euros. Outlook confirmed As of 31 March 2013, Ming Le's network of 3,927 retail outlets covered 26 provinces across China, while over 85.0 per cent of the retail network is located in Tier 3 and Tier 4 cities according to the company's strategy. Ming Le expects that its network will continue to thrive and will achieve the market leading position in the respective cities in the near future. Under the presumption that the currency rate between Euro and Renminbi remains stable, Ming Le anticipates to achieve a year-on-year revenue growth of 25.0 per cent in Euro terms in 2013, surpassing the 350.0 million Euro benchmark due to the increased sales orders for the Spring/Summer 2013 collection. Furthermore, the company reckons with a net profit margin between 17.0 and 18.0 per cent for the fiscal year 2013. The full Q1 Interim Report 2013 of Ming Le Sports AG is available on the company website under http://www.mingle-sportswear.com/investor-relations/publications.html. About Ming Le Sports AG Ming Le Sports AG is a rapidly growing branded sportswear company in China targeting 16 to 35-year-old men and women who lead an urban, vibrant and active lifestyle. Ming Le's products include footwear, apparel, accessories and equipment. The company strives to offer comfortable, fashionable and affordable lifestyle and leisure sportswear. Ming Le designs its own products and manufactures them at Ming Le's facilities or through contract manufacturers. Ming Le markets and sells its products through a network of 26 distributors to about 3,800 retail outlets in China. At present, Ming Le has 1,348 employees. For further information, please contact: Kirchhoff Consult AG Dr. Kay Baden Tel: +49(0) 40 609 186 39 Mail: [email protected] Or visit http://www.mingle-sportswear.com Disclaimer concerning prognoses This communication contains forward-looking statements Forward-looking statements are statements that are not historical facts instead they reflect the current views and expectations of Ming Le Sports and the assumptions underlying them about future events. Forward-looking statements are subject to many risks and uncertainties. If any of such risks and uncertainties materialize or if the assumptions underlying any of the forward-looking statements of Ming Le Sports are proving to be incorrect, the actual results of Ming Le Sports may be materially different from those expressed or implied by such forward-looking statements. Ming Le Sports does not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. End of Corporate News --------------------------------------------------------------------- 30.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Ming Le Sports AG Westhafenplatz 1 60327 Frankfurt am Main Germany Internet: www.mingle.cn ISIN: DE000A1MBEG8 WKN: A1MBEG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf End of News DGAP News-Service --------------------------------------------------------------------- 213954 30.05.2013