DGAP-News: GERRY WEBER presents convincing results for the first half of 2009/2010
(firmenpresse) - Gerry Weber International AG / Half Year Results
24.06.2010 09:00
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- GERRY WEBER presents convincing results for the first half of 2009/2010
- Rejuvenated design leads to double-digit increase in incoming orders
- Sales and earnings projections for full year 2009/2010 confirmed
(Halle/Westphalia, June 24, 2010) The GERRY WEBER Group again reported new
sales and earnings records for the first half of 2009/2010. Group sales
increased by 4.5 percent, with all profitability figures improving
disproportionately. 'In the past months, we have clearly rejuvenated our
collections and now present a clear and consistent signature across all
three brands. This has made us even more attractive to our consumers and
allowed us to grow significantly in spite of weak consumer spending,' said
CEO Gerhard Weber. 'The double-digit increase in incoming orders shows that
we are ideally positioned to reach our growth targets for the current
fiscal year.' Incoming orders for the seventh collection for the
autumn/winter 2010 season totalled EUR 40.8 million, up 34.2 percent on the
previous year. GERRY WEBER core brand reported a 33.9 percent increase from
EUR 23.9 million to EUR 32.0 million. Incoming orders for TAIFUN rose by an
impressive 29.4 percent from EUR 5.1 million to EUR 6.6 million, with
orders for SAMOON by GERRY WEBER rising by as much as 57.1 percent from EUR
1.4 million to EUR 2.2 million.
In the first six months of 2009/2010, Group sales amounted to EUR 305.5
million, compared to EUR 292.3 million in the previous year. Growth was
driven by both the GERRY WEBER core brand and the Retail segment, whose
revenues rose by 16.3 percent from EUR 67.8 million to EUR 78.8 million.
The own Retail activities comprise the company-managed HOUSES OF GERRY
WEBER, the mono-brand stores, the factory outlets and the GERRY WEBER
eShop.
The company's profitability again increased disproportionately. Earnings
before interest, taxes, depreciation and amortisation (EBITDA) increased by
9.6 percent from EUR 35.4 million to EUR 38.8 million in the first half of
2009/2010. Earnings before interest and taxes (EBIT) improved from EUR 29.5
million to EUR 33.0 million, which represents an increase by 11.8 percent.
Earnings before taxes (EBT) rose by 15.3 percent from EUR 27.0 million to
EUR 31.2 million. The respective margins increased accordingly. At EUR 20.5
million, net income for the period was up by 10.1 percent on the previous
year's EUR 18.6 million. DVFA earnings per share amounted to EUR 0.99 based
on 20,817,242 shares outstanding.
As of 30 April 2010, the company employed 2,511 people, 96 more than in the
previous year (2,415). Most of the new jobs were attributable to the
expansion of the Retail segment and were created at the new company-managed
HOUSES OF GERRY WEBER.
The GERRY WEBER Group intends to continue its fast pace of growth in the
current fiscal year. Provided that the consumer climate does not
deteriorate markedly in the further course of the year, the company expects
sales to increase to between EUR 615 million and EUR 620 million and its
EBIT margin to improve to 13 percent. 'We will focus even more strongly on
the high value of our fashion and our younger design to highlight our
intention to enter the premium segment,' Gerhard Weber added. 'Incoming
orders for TAIFUN and SAMOON show that the repositioning has helped both
brands to return to success.'
With about 47 new store openings planned in the full year 2009/2010, the
Retail segment will continue to expand. The company intends to open a total
of 70 to 80 new HOUSES OF GERRY WEBER in the current fiscal year. Outside
Germany, new HOUSES OF GERRY WEBER will be opened primarily in Scandinavia,
Austria, the UK and Eastern Europe. The company's own Retail activities are
complemented by 32 concession shops, which are staffed with specially
trained company employees. The number of these shops is to be increased as
well.
As a strong partner to the retail sector, the GERRY WEBER Group will also
push ahead its Wholesale business and open some 180 new shop-in-shops in
the current fiscal year. At the same time, cooperations with retailers
under maximum order limit arrangements will be expanded. The mark-up for
retailers signing up for such arrangements is two percentage points higher
on average than the mark-up for retailers that do not use maximum order
limit arrangements. The company therefore aims to work on the basis of
maximum order limit arrangements with two thirds of its customers within
the next few years.
In addition, the company's international expansion will be pushed ahead,
which means that the export share is likely to increase. The GERRY WEBER
Group assumes that Eastern Europe as well as the Middle and Far East, in
particular, will make growing contributions to sales going forward.
The GERRY WEBER Group in the first six months:
in EUR million (to IFRS) H1 2009/2010 H1 2008/2009
Sales revenues 305.5 292.3
EBITDA 38.8 35.4
EBITDA margin 12.7% 12.1%
EBIT 33.0 29.5
EBIT margin 10.8% 10.1%
EBT 31.2 27.0
EBT margin 10.2% 9.2%
Net income for the period 20.5 18.6
DVFA result per share in EUR 0.99(1) 0.86
Gross cash flow 37.0 32.9
Fixed asset investments 7.6 8.0
Headcount on 30 April 2,511 2,415
(1) based on 20,817,242 shares outstanding
Investor relations contact:
GERRY WEBER International AG
Sandra Steltenkamp
Neulehenstraße 8
D-33790 Halle/Westphalia
Tel. 05201 - 185 8422
Fax 05201 - 162 19
Email: s.steltenkamp(at)gerryweber.de
24.06.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Gerry Weber International AG
Neulehenstraße 8
33790 Halle/Westfalen
Deutschland
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: h.kley(at)gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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