The Executive Board issued its original forecast in anticipation of higher demand and built up the corresponding personnel capacities in the KPS Group in the past. The current business climate in the retail sector, KPS's core segment, however, led to a general reluctance to take on new projects - especially in the digital sector. This resulted in a decline in sales in individual high-priced markets and business areas as well as a lack of staff utilisation and idle capacity costs. Furthermore, increased wage inflation has impacted the Group's profitability. KPS has already initiated measures to adjust staffing levels in the affected business units to reflect the changing market environment.
KPS AG will publish the key financial figures for the first half of 2022/2023 with the full half-year report on 8 May 2023.
Sole member of Management Board
Unterföhring, 26 April 2023