DGAP-News: GERRY WEBER reports excellent start to the fiscal year 2010/2011
(firmenpresse) - DGAP-News: Gerry Weber International AG / Key word(s): Quarter Results
GERRY WEBER reports excellent start to the fiscal year 2010/2011
24.03.2011 / 09:00
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Halle/Westphalia, 24 March 2011
GERRY WEBER reports excellent start to the fiscal year 2010/2011
The GERRY WEBER Group again achieved strong growth in the first quarter of
2010/2011, when sales and earnings hit new records. At EUR 153.5 million,
Group sales were up by 9.8 percent on the previous year's EUR 139.8
million. Growth was again primarily driven by the Retail segment, whose
sales revenues improved by 26.8 percent from EUR 39.0 million to EUR 49.4
million. 'Our own stores are the drivers of our fast growth. We will
therefore continue our vertical integration with determination,' said CEO
Gerhard Weber.
With pre-orders for the fifth collection for the autumn/winter season
2011/2012 up by 8.5 percent to EUR 108.5 million across all three brands,
the Wholesale segment is also showing an excellent performance, which
suggests that sales will continue to increase in the current fiscal year.
In the coming years, the company sees considerable growth potential
primarily abroad. The GERRY WEBER Group is putting its operations on an
increasingly international basis and plans to expand its export share
considerably in the coming years.
The sharp rise in sales revenues in the first three months of 2010/2011
again led to a disproportionate increase in earnings. Earnings before
interest, taxes, depreciation and amortisation (EBITDA) increased by 15.3
percent from EUR 16.0 million in the previous year to EUR 18.5 million.
Earnings before interest and taxes (EBIT) rose by 18.5 percent from EUR
13.1 million in the previous year to EUR 15.5 million. Earnings before
taxes (EBT) climbed 20.9 percent from EUR 12.2 million to EUR 14.8 million.
The respective margins improved accordingly. Net income for the period was
up by 22.3 percent on the previous year's EUR 8.0 million to EUR 9.8
million. DVFA earnings per share climbed from EUR 0.39 (based on 20,687,948
shares outstanding) to EUR 0.44 (based on 22,383,309 shares outstanding).
On 31 January 2011, the company employed 2,794 people, 347 more than in the
previous year (2,447).
The GERRY WEBER Group believes that the excellent performance in the first
three months of 2010/2011 confirms its sales and earnings projections for
the full year. The company expects sales revenues to increase by over ten
percent to approximately EUR 700 million and projects an EBIT margin of
more than 14.0 percent for the current fiscal year. Sales are expected to
increase at double-digit rates also in each of the next two to three fiscal
years, while the EBIT margin should climb to 15 percent.
The company will further accelerate the expansion of the Retail segment and
plans to open about 65 to 75 own HOUSES OF GERRY WEBER per year, plus
another 60 to 70 franchised stores per year. 'We increasingly see ourselves
as a global player and will expand our international activities
significantly,' Gerhard Weber concluded. 'We are planning to open own
HOUSES OF GERRY WEBER primarily in Switzerland, Austria, Denmark, the UK
and Spain.' The number of concession shops at El Corte Inglés is to
increase from 26 to 40.
As a strong partner to the retail sector, the GERRY WEBER Group will open
some 200 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 GERRY WEBER Group in the first quarter:
in e million (to IFRS) 2010/2011 2009/2010
Sales revenues 153.5 139.8
EBITDA 18.5 16.0
EBITDA margin 12.0% 11.5%
EBIT 15.5 13.1
EBIT margin 10.1% 9.4%
EBT 14.8 12.2
EBT margin 9.6% 8.7%
Net income for the period 9.8 8.0
DVFA earnings per share in EUR 0.44 1) 0.39 2)
Gross cash flow 17.7 15.2
Fixed asset investments 4.6 1.9
Headcount on 31 Jan. 2,794 2,447
1) based on 22,383,309 shares outstanding
2) based on 20,687,948 shares outstanding
Investor relations contact:
GERRY WEBER INTERNATIONAL AG
Hans-Dieter Kley
Neulehenstraße 8
D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01 - 1850
Fax: +49 (0) 52 01 - 5857
E-mail: h.kley(at)gerryweber.de
End of Corporate News
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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
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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116643 24.03.2011
Datum: 24.03.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 33565
Anzahl Zeichen: 0
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Kategorie:
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