DGAP-News: GERRY WEBER defies economic fears and accelerates international expansion
(firmenpresse) - DGAP-News: Gerry Weber International AG / Key word(s): Quarter Results
GERRY WEBER defies economic fears and accelerates international
expansion
14.09.2011 / 08:00
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- GERRY WEBER defies economic fears and accelerates international expansion
- All three brands report strong increase in sales revenues
- Sales and earnings forecast for current fiscal year confirmed
(Halle/Westphalia, 14 September 11) The GERRY WEBER again reached new sales
and earnings records in the first nine months of 2010/2011. Group revenues
increased by 12.6% on the previous year. All earnings figures improved at
clearly disproportionate rates. 'We continue to expand our presence in the
international market. Our GERRY WEBER core brand, which has been among the
best known and most successful brands in the German clothing retail sector,
continues its success story, not least thanks to the sublabels, GERRY WEBER
EDITION and G.W. Sales revenues of GERY WEBER EDITION rose by 24.7% and
G.W. improved by 53.8%,' said CEO Gerhard Weber.
In the first nine months of 2010/2011, Group sales revenues rose from EUR
432.3 million to EUR 468.8 million, which represents an increase of 12.6%.
The strong growth was again driven by both the GERRY WEBER core brand and
the company's own Retail activities. Sales revenues in the Retail segment,
which comprises the concession stores as well as the 195 company-managed
HOUSES OF GERRY WEBER and the GERRY WEBER eShop, increased by 25.1% from
EUR 124.7 million to EUR 156.0 million.
The company once again increased its profits at a disproportionate rate. In
the first nine months of 2010/2011, earnings before interest, taxes,
depreciation and amortisation (EBITDA) climbed 20.1% from EUR 54.7 million
in the prior year period to EUR 65.7 million. Earnings before interest and
taxes (EBIT) increased by 23.7% from EUR 46.0 million to EUR 56.9 million.
Earnings before taxes (EBT) rose by 27.3% from EUR 43.6 million to EUR 55.5
million. The respective margins increased accordingly. Net income for the
period climbed by 25.9% from EUR 28.6 million to EUR 36.0 million. DVFA
earnings per share amounted to EUR 0.78 (based on 45,905,960 shares
outstanding), up from EUR 0.69 in the previous year (on the adjusted basis
of 41,634,484 shares outstanding).
The GERRY WEBER Group employed an average of 2,927 people worldwide in the
first nine months of 2010/2011. This represents an increase by 387
(previous year: 2,540). 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 continues 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 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 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.
The first step into the US market has been very positive. Besides
Bloomingdales, the Dillards department store chain will add GERRY WEBER to
its range in its 10 leading stores. 'This is yet another step in the
context of the ongoing international expansion of GERRY WEBER. But we will
act cautiously in the USA and initially have the sales spaces managed by
partners who have excellent knowledge of the local market,' the CEO
concluded.
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 nine months of 2010/2011:
in EUR m (to IFRS) 2009/2010 2010/2011
Sales revenues 432.3 486.8
EBITDA 54.7 65.7
EBITDA margin 12.7% 13.5%
EBIT 46.0 56.9
EBIT margin 10.6% 11.7%
EBT 43.6 55.5
EBT margin 10.1% 11.4%
Net income for the period 28.6 36.0
DVFA earnings per share in EUR 1.37(1) 0.78(2)
DVFA earnings per share in EUR
(adjusted) 0.69(3) 0.78(2)
Gross cash flow 52.4 64.3
Fixed asset investments 13.5 25.1
Headcount on 31 July 2,540 2,927
(1) on the basis of 20,817,242 shares outstanding
(2) on the basis of 45,905,960 shares outstanding
(3) on the adjusted basis of 41,634,484 shares outstanding
Investor Relations contact:
GERRY WEBER International AG
Jörg Stüber
Neulehenstraße 8
D-33790 Halle/Westfalen
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
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: j.stueber(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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139140 14.09.2011
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Datum: 14.09.2011 - 08:00 Uhr
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