DGAP-News: Gerry Weber International AG confirms good figures for 2010/11 and increases dividend by 18.2% against prior year
(firmenpresse) - DGAP-News: Gerry Weber International AG / Key word(s): Final Results
Gerry Weber International AG confirms good figures for 2010/11 and
increases dividend by 18.2% against prior year
27.02.2012 / 08:10
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Corporate News
GERRY WEBER confirms good figures for 2010/11 and increases dividend by
18.2% against prior year
- Sales revenues in FY 2010/11 up by 13.0% to EUR 702.7 million
- Net income after taxes rises sharply from EUR 54.0 million to EUR 67.0
million
- Proposed dividend increase to EUR 0.65 per share
(Halle/Westphalia, 27 February 2012) At today's annual accounts press
conference, GERRY WEBER International AG confirms the good preliminary
figures for the past financial year 2010/11 and proposed to increase the
dividend by 18.2% to EUR 0.65 per share.
The success story of GERRY WEBER International AG continued in the
financial year 2010/11, when the company increased its sales revenues by
13.0% to EUR 702.7 million and expanded its EBIT margin from 13.4% to
14.2%. 59.9% of the revenues was generated in Germany and 40.1% abroad.
Earnings before interest and taxes increased at an even higher rate than
revenues, namely by 19.6% to EUR 99.6 million at the end of the financial
year, primarily due to the expansion of the company's own Retail operations
and strict cost management. After deduction of the financial result of EUR
-2.0 million (previous year: EUR -3.7 million) and income taxes of EUR 30.6
million, the GERRY WEBER's net income amounted to EUR 67.0 million. This
represents an impressive 24.2% increase on the previous year. Earnings per
share amounted to EUR 1.48 (previous year: EUR 1.29).
To give the shareholders an appropriate share in the company's excellent
performance, the Managing Board and the Supervisory Board will propose a
dividend of EUR 0.65 per share to the upcoming Annual General Meeting. The
dividend will thus be approx. 18.2% higher than in the previous year. In
July 2011, the company had issued free shares on a 1:1 basis and thus given
its shareholders an additional share in its performance
Against the background of the issue of free shares from company funds, the
share capital doubled to EUR 45.9 million. An equity ratio of 75.7%
(previous year: 64.5%) testifies to the company's exceptionally solid
balance sheet structure. Cash flow from operating activities increased by
10.6% to EUR 71.2 million in the past financial year. Accordingly, all
investments (EUR 44.4 million) made in the financial year 2010/11 were
covered by the company's own funds. Liquid funds rose from EUR 45.9 million
to EUR 90.6 million at the end of the financial year 2010/11.
In early February 2012, the GERRY WEBER Group announced the takeover of
roughly 200 stores of bankrupt WISSMACH Modefilialen GmbH. Most of the
former WISSMACH stores are to be converted primarily into mono-label stores
of GERRY WEBER's TAIFUN and SAMOON brands.
In this context, GERRY WEBER International AG has raised its revenues
projections for the financial year 2011/12 from EUR 775 million to EUR 795
million. 'In addition to the investments required for the conversion of the
Wissmach stores into TAIFUN and SAMOON stores, the start-up costs will have
a one-time effect on our bottom line. We therefore project an EBIT margin
of 14.5% to 14.6% for the current financial year,' said Gerhard Weber, CEO
of GERRY WEBER International AG. 'We expect the converted stores to make a
contribution of between EUR 45 and 50 million to sales revenues as well as
a positive contribution to earnings already in the next financial year
2012/13.' Accordingly, the Wissmach takeover will have paid off after only
one year.
The takeover of the WISSMACH stores is the next logical step in the GERRY
WEBER Group's Retail expansion strategy. In the past financial year
2010/11, the Retail segment contributed EUR 218.0 million or 31.0% to total
Group revenues, and this contribution is set to increase in the coming
years. With 64 new Houses of GERRY WEBER opened in 2010/11, the company
plans to open about 75 new stores in the current financial year - excluding
the new stores from the WISSMACH takeover.
Key figures of the GERRY WEBER Group:
2010/11 2009/10* adjusted following the issue of free shares on 1:1 basis in July 2011
Sales revenues (in EUR millions) 702.7 621.9
EBIT (in EUR millions) 99.6 83.3
EBIT margin in % 14.2 % 13.4 %
Net income for the year (in EUR millions) 67.0 54.0
Earnings per share (in EUR) 1.48 1.291
Dividend per share 0.65** 0.55*
Equity ratio (in %) 75.7 % 64.5 %
Headcount (at FYE) 3,260 2,699
** to be proposed to next AGM
Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
Standard)
ISIN: DE0003304101
WKN: 330410
Investor Relations ContactEnd of Corporate News
GERRY WEBER Press Contact
GERRY WEBER
International AG International AG
Claudia Kellert Nina Lauterbach
Neulehenstraße 8 Neulehenstraße 8
D - 33790 Halle/Westfalen D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01-185 8422 Tel.: +49 (0) 52 01-185 320
E-mail: c.kellert(at)gerryweber.de E-mail:
n.lauterbach(at)gerryweber.de
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27.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: c.kellert(at)gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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