DGAP-News: GERRY WEBER stays in fast lane in the first half year of 2010/2011
(firmenpresse) - DGAP-News: Gerry Weber International AG / Key word(s): Quarter Results
GERRY WEBER stays in fast lane in the first half year of 2010/2011
14.06.2011 / 09:00
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- GERRY WEBER stays in fast lane in the first half year of 2010/2011
- Strong sales growth for all three brands
- Sales and earnings forecast for current fiscal year confirmed
(Halle/Westphalia, 14 June 2011) Hitting new sales and earnings records,
the GERRY WEBER Group continued its successful performance in the first
half of 2010/2011. Group sales revenues were up by 11.4% on the previous
year. All earnings figures increased disproportionately. 'We continue to
expand our market lead. Besides our GERRY WEBER core brand, which has been
among the best known and most successful brands in the German clothing
retail sector, our two other labels are back in the fast lane, too. Sales
revenues of TAIFUN rose by 9.5%, while SAMOON by GERRY WEBER improved by
14.1%,' said CEO Gerhard Weber. 'Incoming orders for the seventh collection
for the autumn/winter 2011 season are even more impressive. Growth rates of
24.4% for GERRY WEBER, 31.8% for SAMOON and as much as 48.4% for TAIFUN
mean that we are poised to hit new records.'
The Group's sales revenues rose from EUR 305.5 million to EUR 340.4 million
in the first half of 2010/2011, which represents an increase by 11.4%. The
strong growth was again driven by the GERRY WEBER core brand and the
company's own Retail activities. Sales revenues in the Retail segment,
which comprises the concession shops as well as the 192 company-managed
HOUSES OF GERRY WEBER and the GERRY WEBER eShop, increased by 27.7% from
EUR 78.8 million to EUR 100.7 million.
The company once again increased its profits at a disproportionate rate. In
the first half of 2010/2011, earnings before interest, taxes, depreciation
and amortisation (EBITDA) climbed 19.5% from EUR 38.8 million in the prior
year period to EUR 46.4 million. Earnings before interest and taxes (EBIT)
increased by 22.9% from EUR 33.0 million to EUR 40.6 million. Earnings
before taxes (EBT) rose by 25.8% from EUR 31.2 million to EUR 39.2 million.
The respective margins increased accordingly. Net income for the period
climbed by 24.2% from EUR 20.5 million to EUR 25.5 million. DVFA earnings
per share amounted to EUR 1.11 (based on 22,952,980 shares outstanding), up
from EUR 0.99 in the previous year (based on 20,817,242 shares
outstanding).
The company employed an average of 2,861 people in the first half of
2010/2011. This represents an increase by 350 (previous year: 2,511). Most
of the new jobs were created in the Retail segment, i.e. at the
company-managed HOUSES OF GERRY WEBER.
The fast growth of the GERRY WEBER Group continued in the current fiscal
year. The company projects consolidated sales revenues of approx. EUR 700
million for the current fiscal year, which represents an increase by more
than 10% on the previous year. The EBIT margin will rise to over 14%. Sales
are expected to increase at double-digit rates also in each of the next two
to three years, while the EBIT margin should climb to 15%.
Opening between 65 and 75 company-managed HOUSES OF GERRY WEBER per year,
the Retail segment will grow even faster in future. The number of
concession stores at El Corte Inglés, the largest Spanish department store
chain, is to increase from 29 to about 40. 'The Retail segment remains our
main growth driver and will accelerate its pace of growth once more,'
Gerhard Weber concluded. 'Besides our own HOUSES OF GERRY WEBER, we will
increasingly rely on our online shop, which is reports double-digit growth
rates.'
In the Wholesale segment, the GERRY WEBER Group sees significant potential
for growth outside Germany. As a global player, the GERRY WEBER Group will
push ahead its internationalisation and continue to grow primarily in Asia,
the Middle East and North America. The activities in France, Switzerland
and Italy will also be expanded.
As a strong partner to the retail sector, the GERRY WEBER Group plans to
open some 200 new shop-in-shops in the current fiscal year while at the
same time stepping up cooperations with retailers under maximum order limit
arrangements.
The GERRY WEBER Group in the first half of 2010/2011:
in EUR m (to IFRS) H1 2009/2010 H1 2010/2011
Sales revenues 305.5 340.4
EBITDA 38.8 46.4
EBITDA margin 12.7% 13.6%
EBIT 33.0 40.6
EBIT margin 10.8% 11.9%
EBT 31.2 39.2
EBT margin 10.2% 11.5%
Net income for the period 20.5 25.5
DVFA earnings per share in EUR 0.99(1) 1.11(2)
Gross cash flow 37.0 45.0
Fixed asset investments 7.6 18.2
Headcount on 30 April 2,511 2,861
(1) based on 20,817,242 shares outstanding
(2) based on 22,952,980 shares outstanding
Investor Relations contact:
GERRY WEBER International AG
Jörg Stüber
Neulehenstraße 8
D-33790 Halle/Westphalia
Tel. 05201 - 185 0
Fax 05201 - 5857
Email: j.stueber(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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128225 14.06.2011
Datum: 14.06.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 34373
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