KIRKEL – 13.05.2012. The Supervisory Board of Praktiker AG today approved a financing concept for the implementation of the restructuring programme. An investor is offering a senior loan in the amount of 85 million euro to the Company.

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KIRKEL – 26 April 2012. The positive effects of the stabilisation measures initiated in late 2011 on the German business activities of Praktiker AG continued to increase beyond the turn of the year. During the first quarter 2012, domestic sales rose by 3.7 percent year-on-year. On this basis, Group sales nearly reached the prior-year level despite a continued downward trend in international business. Also the negative earnings trend of many years was stopped.

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Kirkel – 18 April 2012. Praktiker AG postpones the ordinary Annual General Meeting 2012 originally scheduled for 31 May to the second half of June.

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Kirkel, 29 March 2012 – The Praktiker Group closed the year 2011 – sales went down 7.7 percent to 3.183 billion euro – with an operating loss (EBITA) in the amount of 375.1 million euro. Also after deduction of all extraordinary effects a minus of 61.6 million euro remained. This was owed to the fact that the measures initiated to reposition the Praktiker brand in Germany have not yet shown their effect to the desired extent and that international business continues to be sluggish as a consequence of macroeconomic problems in the key international markets. The extraordinary effects are attributable to a revaluation of inventories, extraordinary expenses and additions to provisions in the context of the restructuring programme as well as to valuation adjustments and additions to provisions resulting from a modified corporate planning.

Documents of the annual press conference are available here.

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Kirkel / Hamburg – 29 February 2012. To support the company’s ongoing restructuring process – as already envisaged with the publication of the restructuring programme end of November 2011 –, Praktiker AG is asking the holders of the corporate bond issued in February 2011 for a contribution to the restructuring process by way of an extensive reduction of the interest rate. To this effect, the Management Board publicly invites all holders of the partial bonds to participate in a so-called ‘vote without meeting’ that will be held under the direction of a notary public during the period from 22 to 25 March 2012. Subject of the proposed resolution is the reduction of the fixed interest rate of the bond to 1.0 per cent per annum with effect from 10 February 2012 to maturity in 2016. Currently, the agreed interest rate amounts to 5.875 per cent per annum.

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Kirkel – 2012/02/01. On Tuesday, the management of Praktiker AG and the Group Workers’ Council reached an agreement on the reconciliation of interests concerning the move of the corporate headquarters from Kirkel to Hamburg. At the same time a social compensation plan was developed. It covers all personnel measures associated with the restructuring program as decided by the management board.

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KIRKEL – 2012/01/28. Today, Praktiker AG reached an agreement in form of a term sheet with a bank consortium led by Commerzbank. Existing bilateral lines of credit will be transferred into a joint credit arrangement. The scope of funds made available to Praktiker, a sum in the mid double-digit million euro range, will remain unchanged.

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KIRKEL – 5 January 2012. Praktiker Germany succeeded in stabilising sales in the fourth quarter of the financial year just ended and in keeping them at the prior-year level. International business, by contrast, continued to remain weak. Overall and according to as yet preliminary figures, the Praktiker Group generated net sales of 716.4 million euro during the last quarter. This is 4.5 percent down from the year earlier. During the first nine months of the past financial year, sales had still been receding by 8.5 percent.

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